The Coming Fiscal Cliff

There is a nervousness out here among employers in Hampton Roads, Virginia about massive job layoffs due to the increase in taxation, fiscal social and defense cuts in which many businesses here depend on. The ripple effect will be a great concern that many businesses that depend on government social/defense spending will have to reduce their workforces or probably go out of business themselves. A friend of mine who works for the federal government also see layoffs coming for workers in government. What are you hearing? Some politicians want to go over the fiscal cliff due 1 Jan 2013, others want to kick the can down the road and not solve the problem, but to delay the inevitable. A few want to solve the problem now, but do not have the courage of others to do the hard decisions. The argument is that we are $16 trillion dollars in debt and growing.

 

Oh, you mean the one we are heading for because the GOP brained ads that still hold seats won't negotionate to help everyday American people until tax cuts for the rich are still included in the overall financial deal struck be tween the two parties?

You mean that one?

Yeah...I've never seen more disrespectful, lying, out for them and theirs politicians in my life.
The American people just spoke really loud and really clear that've don't give a fuck about whatever extra privilliages these asshats are still trying to procure through the government for the already privilliaged.

Hopefully enough of those constituents and just the American people in general will write papers and sign petitions to get these fuckwads out of office so the country can actually move forward.

 

Clear stating of the challenges here..

http://factcheck.org/2012/11/facts-falling-off-the-fiscal-cliff/

 

There appears to be some cracks in the opposition to the President to allow some taxes on the more wealthy citizens. I however, agree with the Republicans that a reform of the tax code is what we need in this 21st century due to the changing nature of work, the changed economic reality of global competition and fairness that must be implemented into the system to give confidence to all in this dynamic ever changing society. I will be back to go over your web post later, I have to get to work.

 

Once you open pandora's box, You can't close it.

The problem is that they have changed to benefit the rich.
If you look at how high taxes were you realize we were prepared until it was changed to suit the rich.

 

Obama's policy will help shrink the debt by $560 billion. But the GDP will drop by four percentage points which would send us back into a recession. We would also see a 1 percent drop in unemployment, or 2 million jobs.

Here's some of the tax implications:

- The 10 percent bracket would disappear. The 15 percent bracket would become the lowest tax rate. And the 25, 28, 33 and 35 percent rate brackets would rise to 28, 31, 36 and 39.6 percent.

- The capital gains rate on assets held longer than a year would increase to 20 percent from 15 percent for middle- and upper-income taxpayers and rise to 10 percent from zero for those with lower incomes.

- Dividends would be taxed as ordinary income rather than at the same rate as capital gains.

- The per-child tax credit would revert to $500 from its current level of $1,000 and would cease to be refundable.

- Expansions of the earned income tax credit, the dependent care credit and the adoption credit would expire.


http://www.nfib.com/advocacy/item/cmsid/60477

 

None of these state anything about obama's policies being for or against this. These are decision that are going to be made by congress as the article states. The article doesn't even mention the word Obama.

 

Always found it interesting that Obama carries the vast majority of the blame for the economy yet people seem to forget simple hs civics. CONGRESS CONTROLS THE MONEY. So if people want to whine about the dems fine but blaming the president just shows a lack of intelligence.

 

Bingo, exactly right! Would rep if I could

[YOUTUBE]Ugpg8XruhVk[/YOUTUBE]

 

I still can't rep you dahling...

Here's a hug instead :freehug:

 

There's this too...

Won't it be funny in 2016 when we can watch the Republicans blame all of the nation's problems on Obama like they said we do with Bush?
Stephen Kolhbert

And keep in mind that a congress can either work with or against a president.
With the former president is was the former, with President Obama it is the latter.

Just think about all the money we would have saved from 2001 and onward if that admin hadn't dreamed up big scary monsters and got everything they wanted through fear mongering.
If any democratically held seats would have been as obstructionist based for that as this one has been in helping to not clean up that mess...

Just saying

 

Obama has repeatedly said he will let the Bush tax cuts expire. This article is showing what will happen in one month if a new deal is not reached.

 

That's true to an extent. Obama has extended the Bush tax cuts before and he could do that again. So I don't buy the whole "I have no control" argument. You can't be a leader who doesn't want to lead. He's comfortable taking a back seat to almost every discussion and saying "you guys figure it out".

 

That's the thing for all their talk about fiscal conservatism the right loves to spend money in the "interest" of the country but apparently to them dems are just giving out "freebies" to keep the 47% happy and voting.
I would respect them more if they were the Republicans who actually believed in business and didn't just talk about it while then spend a shitload of money during boom times and then watch everyone else like a hawk if they dare spend a penny to help dig honest people out of a ditch created by their short sighted obstructionist policies.
Dems are no better in the way they don't speak up about this shit. It really makes one wonder if they are in collusion.

 

The nation's problems do rest on Obama. He got a four year pass blaming his term on Bush. If he goes the next four years and we're in the same situation, there's nobody else to blame.

 

Really?
So you shadow him and are with him 24/7 to actually document with sound proof every time he doesn't make a decision on something?

I think your definition of back seat is very lacking.

 

You will be succeeding with the rest of the looney tunes?

 

Why does he have to extend the cuts? You people constantly whine about spending. So how about we increase the tax base and cut at the same time. Just giving wealthy people money does nothing for domestic investment. Do you need numbers to SEE that it doesn't. They sit on record profits and refuse to invest in America. So how about they can keep making record profits here while they help the country get back on its feet and at the same time the populus will do their part by paying a little extra as well as cutting some redundant services. That way everyone gets what they want or is this gonna be classic Republican divisive tactics where its their way or no way?

 

A fiscal conservative supports growing the economy to bring in more revenues by lowering the tax base and then cutting spending.

Obama is trying to do what Clinton did, but he doesn't have the luxury of a good economy. You can't raise taxes in a poor economy. It's like a landlord asking for more money when you already haven't paid rent in 2 months.

 

Tax cuts and spending are two different arguments. The reason the tax cuts can't expire is because it will send us back into a recession. The CBO already projected that GDP would drop 4 point and we could lose up to 2 million jobs.

Obama is the one who doesn't want to cut spending. But raising taxes on the wealthy does not cover your spending problem and it does nothing to grow the economy.