Economists point to the expiring Bush tax cuts and mandatory spending cuts and say that we're likely to suffer a second recession. Well, duh. If you take $500B out of the $15T economy (GDP), it's a 3.33% hit to GDP and GDP is growing less than 2%. So you are going to get 2% - 3.33% GDP growth or -1.33%. Two consecutive quarters of negative GDP growth (-1.33%) and it's a recession by definition. For you government lovers, $500B given to a govt. that borrows $.42 of every $1 it spends means govt. spending will likely go up near $1T per year and deficits will skyrocket. The deficit is already absurdly high. Govt. isn't going to sock that $500B away, it's going to spend it. The debt will not decrease by $.01, get it? This raises the obvious question: If taking $500B out of the economy is such a bad thing, why take ANY out of the economy? Taxing the rich is what Reid and Obama say they intend to do to avoid the cliff. Seems to me Obama's taken that car Bush drove into the ditch and got it running on 1 cylinder, disabled the brakes, and is now driving it towards the cliff.
I'm beginning to think the American people need to feel the impact of their electoral decisions. Let it burn, I say. You want big government? Pay for it.
man, as you know Maxiep,in the past there have always been other factors that in spite of poor policy, we could continue to prosper eventualy, after the war between the states, there was a large production capacity available, after the crash of the 30s, there were still idle plants that would begin to produce war material on the lend lease and even some agreements before.. we are on new ground for this country..there is nothing to stop its demise, and "we" are ignoring the examples that have been set by spain and greece..
I stand for the Constitution and limited government. This ain't it. Good luck. Time to pay your bills, Zag.
If this is a popular sentiment among you Republican's than it just goes to show how patriotic you really are. The majority of your people have voted and they agree in the progressive approach to government. Get used to it, or GTFO! Sweden wants you back.
Oh, I've accepted it. I'm not paying what I did anymore as I won't be generating the same kind of income or capital gains. It's REIT-land for me! You're a single guy making $80-100K with no writeoffs? LOL. Enjoy your new tax rates. I'll be fine; you'll be paying out your ass.
the shit is giong to hit the fan at the rate "the majority" keep up their "progressive" approach oh and nice "liberal" attitude there pffft "gtfo" really?
Why are you quoting "the majority"? Do you not understand what context quotations are used in? When your country has voted to the left the past two elections, I'd say thats the majority.
It will first have to be approved by the Independent Payment Advisory Board. And then they'll be at least a six-month wait.
Everyone is going to be butthurt from how much lighter their wallets are going to be. Laugh it up. The chickens will come home to roost. When they do, you're going to be really sorry.
Serious question for you, Mick... I know I asked something similar before, but you've been pretty open with your job/benefits/etc....do you not consider yourself upper-middle class? I mean, someone with whose job+benefits+pension contributions is close to (if not well over) 100K? Who do you think is going to have to start footing major portions of the bill in the next 10 years?
Taxes don't bother me. If everyone in my same wage scale is getting tarnished the same then whatever.
