...and off the cliff we go

"Obamacare contains twenty new or higher taxes. Five of the taxes hit for the first time on January 1. In total, Americans face a net $1 trillion tax hike for the years 2013-2022"

[link to www.atr.org]

this fiscal cliff debacle reminds me of this clip in austin powers, just substitute tractor beam with avoiding fiscal cliff

Not so fast! The dummies in office pulled a last minute deal...As always.

On the brightside, we will only spend 9 times the amount on military expenditures as the rest of the world combined. (instead of 10 times)

On the downside, we will only have 100,000 pages of tax code before they work out all the kinks. 535+POTUS should be able to push 150k pages.

The only deal reached is what day these cocksuckers are gonna flush our asses down the frickin toilet!

From what I understand, the terms have been agreed to by Reid and McConnell, who are the Majority and Minority in the Senate. So I assume they think they can get 60 votes in the Senate.

I have not heard much from the House, except Pelosi, and she is the Dem leader over there.

They might can get some kind of bipartisan vote in the House that will get them to 218.

That will probably be how it goes down - the moderate Pubs and the left get the 218 votes needed. The Tea Party group will probably vote no, but enough moderate Pubs will likely vote yes.

This country needs a wake up call.

Locally Invacare is laying off 145. They make medical devices....

i wouldnt hold my breath

Let it go ! Dont give a rat ass

i refreshed the page to see this thread has 69 replies with 2,222 views at 1:00 am, where are the numbertards when ya need them lol

most of you morons are more worried about your guns than the economy.
what a joke.

Too bad, looks like they passed the deal.

It doesnt matter .......? Regardless. yobummer comes in at the last second to "pretend" he is some kind of savior.BS all these clown in DC need to be sent orders to pack up and go the hell back to the ranch. They ALL dont care care about you or me. Its an illusion.Who the fuck cares

At this point might as well throw this in.

Piss off Aussie !

Uh, dude. The communists have hyjacked our government. wake up....

Here's my view of the cliff:

Pretty ridiculous that the cliff is 5:1 tax increases to spending cuts. (and you know you'll never even see those cuts, but honestly, you'll never see the revenue increases either since you are only giving them more incentive to do some financial planning)

If you really want to tax the rich, realize the rich don't have income. The really rich have carried interest and long term capital gains. Can't raise those taxes or it will be TEOTWAWKI, but we sure can tax income at twice that rate!? I say we call all income - income, and then drop the tax rate down to the rate Mitt Romney and Warren Buffet pay - 15% (for starters). For 3 years I had a white collar salary overseas, so I did not have to pay any income tax. That is the wealthiest I have ever felt in life. You have to believe me when I say income tax is almost slavery. Income tax always ends up like this - the workers pay it, and the rich and powerful exempt themselves from it. One more thing to think about - serfs typically paid their lord one day a week labor. That means serfs had at worst, a 20% income tax. You aren't even a serf, you're almost a slave. What is the justification for a tax on income? Income is bad? No, income is a necessity just as food, water, clothing and shelter are. The government regulates income and therefore needs a fee to pay for that service? No, not a function of government even though I do see the government trying to manipulate wages through immigration on the down side, and unions on the up side. Let government collect money where it provides a service. They need to earn their money just like we do.

Now the spending side. When we create money, we call it debt. So take whatever figure you want - federal debt, M2, credit and currency deriviatives - that number must grow at the same rate as GDP. Less is deflation, more is inflation - two sides of the same coin. So, the federal budget has to be whatever they collect in taxes, plus whatever GNP increase there is. The reason for that is simple - money is a proxy for goods and services. As an economy produces more goods and services, money must be produced or you will have more goods and services denominated by the same amount of money - deflation. Stable prices requires money production at the exact same rate as production of goods and services in the economy. I think this is what confuses people, it's a derivative - rate of change.

This is why we may never have a "balanced" budget. Power corrupts, and while we limited the scope of power through a consitution, we did not limit the duration. Congress limited duration on the President, but we need to go much further. No one should be allowed to run for public office while in public office.

you mean the republicunts have hijacked the govt.

It's not so bad... We pay half of our income to taxes, which pays for half of the population to be on welfare. We get brand new laws and restrictions! And the excitement of economic collapse! Who needs social security anyway?

Your right. With that being said , not a one of these worthless bastards deserve payroll until they get there shit together! Tired of this madness. WE employ them, not the other way around. Its time to stand up to these idiots !

Rumour of a vote ...

[link to twitter.com (secure)]

You'll never see S.S anywhy at this rate unless ur 65 !

This administration is spending S.S. on obamma phones and 47% perks

bout time...

I'll hold you to your original post

let's get it on man

dude, you have no clue what is going on over here

but you have no problem with defence spending but you piss and moan about helping out your own bretheren.

riigggghhhhhhttt.

You might get to know something soon ...

[link to twitter.com (secure)]

the whole fucking world knows whats going on over there.

CNN is the Obama fan club.

The world knows nothing about him.