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More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!

 
Luisport

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12/29/2012 03:18 PM

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More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
zerohedge‏@zerohedge

Ron Paul On The Fiscal Cliff: "We Have Passed The Point Of No Return" [link to www.zerohedge.com] …

Last Edited by Luisport on 01/03/2013 12:50 PM
Anonymous Coward
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12/29/2012 03:21 PM
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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
It wasn´t fixable anyway.
Luisport (OP)

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12/29/2012 03:21 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
In a little under three minutes, Ron Paul explains to a somewhat nonplussed CNBC anchor just how ridiculous the charade that is occurring in D.C. actually is. This succinct spin-free clip should be required viewing for each and every asset-manager, talking-head, propagandist, and mom-and-pop who are viewing the last-minute idiocy of the 'fiscal cliff' debacle with some hope that things will be different this time. "We have passed the point of no return where we can actually get our house back in order," Paul begins, adding that "they pretend they are fighting up there, but they really aren't. They are arguing over power, spin, who looks good, who looks bad; all trying to preserve the system where they can spend what they want, take care of their friends and print money when they need it." With social safety nets available to rich and poor, there is no impetus for change and "the country loses," but Paul concludes, the markets are starting to say "there is a limit to this." [link to www.zerohedge.com]
Luisport (OP)

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12/29/2012 03:26 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
Business Insider‏@businessinsider

According To Two Reporters, The Fiscal Cliff Negotiations Are Going Very Badly [link to read.bi]
Luisport (OP)

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12/29/2012 03:29 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
Today is the day that Harry Reid and Mitch McConnell are supposed to be negotiating a deal on the Fiscal Cliff.

Two of the top reporters covering the Fiscal Cliff, John Harwood of CNBC and Ben White Of Politico, have ominous tweets on this weekend's negotiations so far.

John Harwood ✔
@JohnJHarwood

Uh-oh...asked how deal negotiations are coming along today, Senate Dem aide says: "Not"

Ben White ✔
@morningmoneyben

McConnell-Reid staff talks going great if by great you mean really terrible/non-existent


Read more: [link to www.businessinsider.com]
Luisport (OP)

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12/29/2012 03:38 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
bump
Luisport (OP)

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12/29/2012 03:43 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
zerohedge‏@zerohedge

EXECUTIVE ORDER: ADJUSTMENTS OF CERTAIN RATES OF PAY, Signed Barack Obama, December 27, 2012 [link to www.opm.gov] …
Anonymous Coward
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12/29/2012 03:46 PM
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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
The "fiscal cliff" was never meant to be avoided.

The day after Obama was re-elected he had a message to the people talking about how he was going to be working hard on a resolution.

I tried telling people then that absolutely no deal would be reached, and it was never meant to happen.

Hard times are coming and we are just along for the ride.
jazz
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12/29/2012 03:47 PM
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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
we should not have done all the bail-outs when the recession started. the economy isnt messed because of the housing mrkt. thats the gov lies.it started b4 that with the banks selling credit card debt overseas. thats when gas started to climb.
we should go over the cliff or CUT GOVERNMENT SPENDING by trillions. next we will hit the wall, DEBT CEILING. congress should tell obama to take a hike. no deals and no debt increase. yes this will implode the entire economy.however we r in over our heads anyhow. lets crash it n then we can rebuild it the right way. kick out the unions from government employees ,teachers,cops,fire dept,etc. or else we r just "kicking the can down the road",delaying the inevitable.
at this rate,we keeping sending the cost of goods higher,there by taking $$ away from the working ppl. if we crash it,prices will come down n the working man comes out ahead.
after all this is done,create an election acct on a % basis. each election, rather it b a congressman or a president,governor,etc, we split the fund between the candidates evenly. no more super packs,no more unions/corporations buying elections. this will put the POWER BACK TO THE PPL.
Luisport (OP)

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12/29/2012 03:49 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
The "fiscal cliff" was never meant to be avoided.

The day after Obama was re-elected he had a message to the people talking about how he was going to be working hard on a resolution.

I tried telling people then that absolutely no deal would be reached, and it was never meant to happen.

Hard times are coming and we are just along for the ride.
 Quoting: JeepersCreepers


hf
Torchbearer

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12/29/2012 03:54 PM
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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
All of this "drama" was designed to create a conflict to confuse the people...

And the ruse has succeeded.

Now the fiscal crisis, will be blamed for the ensuing economic and US dollar

crisis , which will lead to " restless natives " in the cities, which will precipitate

martial law.

SO ...the fools who chose this leadershit , ( no it's not a typo ), deserve exactly

what's coming.
Luisport (OP)

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12/29/2012 04:15 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
bump
Luisport (OP)

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12/29/2012 04:16 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
Business Insider‏@businessinsider

FORMER ROMNEY ECONOMIC ADVISOR: Yes, Middle Class Tax Rates Might Have To Be Hiked Too [link to read.bi]
Luisport (OP)

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12/29/2012 04:35 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
Former Mitt Romney economic advisor Greg Mankiw admits something that he probably would never have said during the campaign: Middle class tax rates can't be set in stone. They might have to rise, too.

In a column at the NYT, Mankiw argues that if we're going to get real about connecting spending to revenue, and if we want to keep (for the most part) the level of entitlements we've come to expect, some kind of tax increase on the middle class will be necessary.

Ultimately, unless we scale back entitlement programs far more than anyone in Washington is now seriously considering, we will have no choice but to increase taxes on a vast majority of Americans. This could involve higher tax rates or an elimination of popular deductions. Or it could mean an entirely new tax, such as a value-added tax or a carbon tax.


Read more: [link to www.businessinsider.com]
Torchbearer

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12/29/2012 04:51 PM
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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
bump
Ralph--a house dog

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12/30/2012 05:57 AM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
Former Mitt Romney economic advisor Greg Mankiw admits something that he probably would never have said during the campaign: Middle class tax rates can't be set in stone. They might have to rise, too.

In a column at the NYT, Mankiw argues that if we're going to get real about connecting spending to revenue, and if we want to keep (for the most part) the level of entitlements we've come to expect, some kind of tax increase on the middle class will be necessary.

Ultimately, unless we scale back entitlement programs far more than anyone in Washington is now seriously considering, we will have no choice but to increase taxes on a vast majority of Americans. This could involve higher tax rates or an elimination of popular deductions. Or it could mean an entirely new tax, such as a value-added tax or a carbon tax.


Read more: [link to www.businessinsider.com]
 Quoting: Luisport


And now Obama is talking about sending troops to a number of African countries---more money down the drain. This whole crisis could be avoided by cutting the Pentagon's budget by one half or more and not on the backs of military personnel, either. Just getting out of where we don't need to be would do it.
"Who decides?"
---Robert A. Heinlein

[link to www.westcoasttruth.com]

"Do Not Go Gentle into that Good Night.....Rage, rage against the dying of the light"
----Dylan Thomas
SteamrolledGobias

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12/30/2012 06:53 AM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
we all know this is barry's fault....

odanceodanceodance
Limpan

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12/30/2012 06:55 AM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
zerohedge‏@zerohedge

Ron Paul On The Fiscal Cliff: "We Have Passed The Point Of No Return" [link to www.zerohedge.com] …
 Quoting: Luisport


Hi man

Maybe this is it!! But I doubt it.
We will se...


dynamite
Luisport (OP)

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12/30/2012 10:35 AM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
zerohedge‏@zerohedge

Schumer Says ‘Real Possibility’ of Deal on Fiscal Cliff. Will the Chairman get to work then?

53 mzerohedge‏@zerohedge

Cliff Rumors Start Early As Lindsey Graham Says "Obama Has Won" [link to www.zerohedge.com] …
Luisport (OP)

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12/30/2012 10:40 AM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
zerohedge‏@zerohedge

Obama's Meet The Press Interview [link to www.zerohedge.com] …
Luisport (OP)

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12/30/2012 11:01 AM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
Business Insider‏@businessinsider

This One Chart Shows That The Fiscal Cliff Fiasco Is The Republicans' Fault by @hblodget [link to read.bi]
Luisport (OP)

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12/30/2012 11:01 AM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
Business Insider‏@businessinsider

OBAMA: 'We Don't See A Deal' [link to read.bi]
Luisport (OP)

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12/30/2012 11:54 AM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
zerohedge‏@zerohedge

McConnell Spokesman Calls Obama Comments ‘Discordant.
Luisport (OP)

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12/30/2012 11:55 AM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
Business Insider‏@businessinsider

PIMCO's Bill Gross Just Tweeted His Dismal 2013 Outlook by @bySamRo [link to read.bi]

29 minBusiness Insider‏@businessinsider

If You Missed Obama's Meet The Press Interview, Watch The Whole Thing Here [link to read.bi]
Luisport (OP)

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12/30/2012 12:16 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
Business Insider‏@businessinsider

LINDSEY GRAHAM: 'Obama Is Going To Get Tax Rate Increases — The President Won' [link to read.bi]
Luisport (OP)

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12/30/2012 12:19 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
South Carolina Republican Sen. Lindsey Graham admitted defeat over the fiscal cliff Sunday, saying that there is an "exceedingly good" chance the Senate will pass a narrow bill that will raise taxes on wealthy Americans.

"Hats off to the president. He won," Graham said in an interview on Fox News Sunday. "He stood his ground. He's going to get tax rate increases. Maybe not at [$]250[000], but on upper-income Americans."

He repeated his remarks in a tweet following the interview:

Twitter/@GrahamBlog
But Graham also tweeted hints that Republicans are ready to go another round with Obama, and will put up a tougher fight over gun control and the debt ceiling, which is expected to hit on Monday.

Twitter/@GrahamBlog
Obama has said repeatedly that he will not negotiate with Congress over raising the debt ceiling.


Read more: [link to www.businessinsider.com]
Luisport (OP)

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12/30/2012 12:54 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
zerohedge‏@zerohedge

Boehner Responds To Obama: "Stop Blaming And Lead" [link to www.zerohedge.com] …
Luisport (OP)

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12/30/2012 01:51 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
Business Insider‏@businessinsider

Senate Democrats Report Setback In Fiscal Cliff Talks [link to read.bi]

16 minBusiness Insider‏@businessinsider

LIVE: Fiscal Cliff Countdown Begins... [link to read.bi]
Luisport (OP)

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12/30/2012 01:56 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
With just over 24 hours to go until the fiscal cliff deadline, Senate negotiators are still scrambling to come up with a last-minute deal to prevent the huge tax hikes and budget cuts scheduled to go into effect on January 1.

Lawmakers have spent the weekend trying to come up with a deal that can pass both the Senate and the House, but negotiators are reportedly still deadlocked over key provisions, including the estate tax, the extension of unemployment benefits, and cuts in Medicare payments to doctors.

The main issue, however, continues to be disagreement over what the threshold should be for letting the Bush tax rates expire. Democrats are still insisting that tax rates go up for those households earning more than $250,000 a year. Republicans want the threshold to be higher, perhaps around $400,000.

According to the Washington Post, Senate Majority Leader Harry Reid and his Republican counterpart, Minority Leader Mitch McConnell, have set the deadline for negotiations at 3 p.m. Sunday.

If all goes well, the leaders will introduce the legislation Sunday evening and hold a vote by tomorrow afternoon. The House would then have about 12 hours to take action.

If the Senate can't reach a deal, Reid has promised to hold an up-down vote on a scaled-down bill, which would extend unemployment benefits and tax breaks only for those earning under $250,000.

Whatever happens, the next 24 hours will definitely be packed with fiscal cliff action. We'll be updating below as things develop.


Read more: [link to www.businessinsider.com]
Luisport (OP)

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12/30/2012 02:44 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
Business Insider‏@businessinsider

Reid Says Democrats Have No Counter Offer, McConnell Calls On Biden For Help [link to read.bi]
Luisport (OP)

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12/30/2012 02:44 PM

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Re: More taxes coming: Reid wants any spending cuts offset by new revenue. Fiscal Cliff is baaaaaack!!!
Business Insider‏@businessinsider

REID: 'We're Not Going To Have Any Social Security Cuts' In Fiscal Cliff Deal [link to read.bi]

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