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Let all the cuts happen. Face DEBT head on and deal with it now.
It won't go away.
States are already taxing the rich more and now you want the Fed to do it too ?
Those rich aren't going to save America for you and pay off your debts.
I agree.
STOP THE PRESSES
If the government does not come to an agreement before the end of the year,
$1.2 B of spending cuts over the course of 10 years will go into effect.
That equals 120 B a year. The government spent about $3,728 billion in 2012.
So we are talking about roughly 3.2% worth of spending cuts.
The results were not mixed. The message was clear.
Remember this infamous quote
"The people have spoken - they must be punished" Mayor Ed Koch (NYC) 1989
Folks want to keep spending money we don't have. Good luck with that.
The nation is going to be very disappointed by the end of 2015, IF it even takes that long.
I think it is clear from the election and polls that Americans favor increasing taxes on the very wealthy. All that needs to happen is push the rates for taxes...all taxes (capital gains, inheritance, and tax brackets) to what they were during the Clinton term.
Republicans should just concede this point and begin negotiations on where to cut expenditures. Certainly there needs to be cuts with Defense, but other things need to be on the table.
cut expenditures? sure thing, lets cut 50% of defense, 50% of the farm bill, cut congress pay by 50%, cut welfare by 50%, stop collecting taxes on social security, medicaid/medicare, cut all other budgets of the federal goverment by 50% including all of the enforcement arms of the federal goverment. plus stop giving loans out to every country.
Now is the time for spending cuts on the government dependent. Who better than Obama can explain to them why they must also tighten their belts?
Sure it's easy for Obama to tell the military and their families he's going to give them the shaft, and of course all taxpayers, but he needs to spread this around a little more than he would like.
When almost half the country pays no taxes but lives off the government, you cannot destroy only the other productive half that is working and paying taxes but keep on spending and increasing the non-productive half.
I found this article from just yesterday and thought it was appropriate for this thread.
The Fiscal Cliff Explainer: What It Is, Where It's From, Who Will Pay, and Why It Matters: From Derek Thompson, a senior editor at The Atlantic, where he oversees business coverage for the website.
Just let the Bush tax cuts expire, and let the people see just how the left lied to them about those evil "Boooosh tax cuts for the rich" because most everyone's taxes will go up.
I agree, let them expire. Allow the spending cuts to take place. This is what the President and Congress agreed to in 2011. As bad as it may be, the fallout will be nothing compared to what's on the horizon, but it will serve as a nice preview of what's coming our way.
Quote:
Originally Posted by malamute
When almost half the country pays no taxes but lives off the government, you cannot destroy only the other productive half that is working and paying taxes but keep on spending and increasing the non-productive half.
Make Wall Street pay for this depression since they are the ones who caused it and they are responsible for the massive increase in the national debt since 2008. Maybe a tobin tax or Wall Street tax on all trades with their high frequency trading computers and computer flash trading and quadrillions in derivatives. Either that or they go to jail for their crimes and blowing up the entire world's economy.
If the government does not come to an agreement before the end of the year,
$1.2 B of spending cuts over the course of 10 years will go into effect.
That equals 120 B a year. The government spent about $3,728 billion in 2012.
So we are talking about roughly 3.2% worth of spending cuts.
That is just not going to happen. Even if they did not come to an agreement and the default cuts come into play, they still are congress. They can simply change their mind and enact new laws. In other words, the cuts could last for a month...two months or a year. Congress has the power to change the law and they will. The corporate overlords will put pressure on congress, and they will fix it.
You guys have screamed that tax cuts don't stimulate the economy. Why should a tax increase make a difference?
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