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My hope is that the two parties can't come to any compromise and we jump off fiscal cliff. There are many attractive if not downright exciting things about it. First, I would love to see the middle class tax increase. What's wrong with the middle class paying the same tax rates they did under Clinton?
My favorite thing about middle class tax increases is that it would put a large segment of the 47% who don't pay income tax back into the tax paying category. They would get some well needed skin in the game. Even the most Socialist European countries don't have close to half the population not paying income tax. This must stop. On a related note I love the idea of cutting the child tax credit in half..Yes it's about time.
Next I would LOVE the spending cuts. This country is spending itself into oblivion. Too many of the automatic cuts would go towards defense but I believe there would be some cuts to social programs as well. After endless expansion to the welfare state any kind of cuts would be a dream come true.
Finally the combination of tax increases and spending cuts would cut our nations deficit. This is extremely important and this is a rare opportunity to get it done.
So I am cheering for the two sides to come to no agreement whatsoever and taking a great leap off the fiscal cliff. There will be short term pain but we will be much better off in the long run.
What I least want to see (and is most likely to happen, so predictable) is that the two sides work together and come to a compromise. There will be no middle class tax increase, minimal upper income tax increases. Any spending cuts will be set to take place in the future. They will never actually happen. Meanwhile we will just be kicking the can further down the road and our debt crisis will only get worse.
I think Bowles who was Clinton's adviser is right on it not going to happen by Jan1 as he said no cuts have been discussed really yet. I perosnally kind of want it to go to presure with cuts and raises that they endup with Simpson?Bowles that some demcrats and republicans say is the only conpromise they see possible. That would put us on a path with revenue increases and cuts to sustainablity.Wokr the waitig for as nothig else is anyhtig but a down payment.
My hope is that the two parties can't come to any compromise and we jump off fiscal cliff. There are many attractive if not downright exciting things about it. First, I would love to see the middle class tax increase. What's wrong with the middle class paying the same tax rates they did under Clinton?
My favorite thing about middle class tax increases is that it would put a large segment of the 47% who don't pay income tax back into the tax paying category. They would get some well needed skin in the game. Even the most Socialist European countries don't have close to have the population not paying income tax. This must stop. On a related note I love the idea of cutting the child tax credit in half..Yes it's about time.
Next I would LOVE the spending cuts. This country is spending itself into oblivion. Too many of the automatic cuts would go towards defense but I believe there would be some cuts to social programs as well. After endless expansion to the welfare state any kind of cuts would be a dream come true.
Finally the combination of tax increases and spending cuts would cut our nations deficit. This is extremely important and this is a rare opportunity to get it done.
So I am cheering for the two sides to come to no agreement whatsoever and taking a great leap off the fiscal cliff. There will be short term pain but we will be much better off in the long run.
What I least want to see (and is most likely to happen, so predictable) is that the two sides work together and come to a compromise. There will be no middle class tax increase, minimal upper income tax increases. Any spending cuts will be set to take place in the future. They will never actually happen. Meanwhile we will just be kicking the can further down the road and our debt crisis will only get worse.
The 'fiscal cliff" is not enough to set the budget right but it's a nice start. I'll be severely pissed if a deal is cut. Of course the coming recession will 'Be Bush's fault" even though Dems controlled the House & Senate when this started and Bush was Prez, controlled either all 3 branches are at least 2 of the 3 branches since. when you control the media, you can assign the blame and unfortunately, most Americans are idiots these days.
The 'fiscal cliff" is not enough to set the budget right but it's a nice start. I'll be severely pissed if a deal is cut. Of course the coming recession will 'Be Bush's fault" even though Dems controlled the House & Senate when this started and Bush was Prez, controlled either all 3 branches are at least 2 of the 3 branches since. when you control the media, you can assign the blame and unfortunately, most Americans are idiots these days.
The Republicans are going to be blamed no matter what and Bush will be blamed for the rest of our lifetimes. Only years of 100% Democrat rule will finally convince the public that Dems aren't so great. I am coming to terms with this because I don't think much can be done.
So at this point I'm not looking to see what political party benefits or get's hurt by this. I sincerely believe going over the cliff will be in the best interests of all Americans in the long run.
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