Fiscal cliff: GOP ready to discuss terms of surrender

Discussion in 'Economy' started by longknife, Nov 15, 2012.

  1. longknife
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    longknife Platinum Member

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    by David Harsanyi

    You’ll remember that President Barack Obama was the only candidate with a detailed plan to deal with the impending fiscal unpleasantness. And, as the president explained this week during his first press conference since winning re-election, “more voters agreed” with him, so naturally, it’s time to give the people what they want.

    So what do we win? Well, turns out there’s only one detail worth remembering when dealing with the slew of tax hikes that kick in next year: We must reverse Bush-era tax rates on the rich. According to rosy projections of the Congressional Budget Office, this would amount to around $824 billion in revenue over the next decade, or less than one year of deficit spending by the administration. Democrats also support a millionaire “Buffett” tax, which could raise — maybe — $47 billion over the next decade, or less than $5 billion a year, or around half a workday of the federal government’s budget.

    In other words, we get the genuinely unserious government we deserve.

    More of what you voted for @ Harsanyi: Fiscal cliff: GOP ready to discuss terms of surrender

    And even more @ Obama's tax hike flim-flam | Conservative News, Views & Books

    :mad:
     

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