The Fiscal cliff

[rwh11385]

Even if the Dems get there way and raise taxes on those that make above 250k it will effect the economy in a negative way.

Although I personally prefer lower taxes, I think the onus is on you to prove your claim. Everyone says X will have Y effect but don't necessarily have the numbers and analysis to back it up. I registered Republican after a HS teacher wanted me to do a report on how Reaganomics failed and could only summarize why it was successful, although looking back down the support wasn't exactly definitive by my standards today. More private activity in lieu of government is preferred, and we're ahead of many countries in that regard... but the last time Dems got their way and raised taxes (after a Republican president did the same) didn't exactly meet your claim here.





Fortunately, personal consumption has generally been becoming a greater factor in GDP.



And I said, I'm all for lower taxes, a more efficient government, less crowding-out... but your claim doesn't match necessarily history.

[joshh]

They're pretty much forced to pass the tax cuts again. Even if the Dems get there way and raise taxes on those that make above 250k it will effect the economy in a negative way. And if the Dems get the defense cuts they want, it will further effect jobs. That and Obamacare being slowly implemented will be a real test for employers.

Obama commented that raising taxes on those making $250k+ was being done out of fairness. Not for economic reasons. And there's part of the problem. Liberals argue there aren't that many people who make $250k or more a year, proving his point. Raising their taxes alone doesn't even begin to fix the debt problem.

My argument is stop trying to tax people (burden them) during hard economic times to cover the costs of an extremely wasteful government (no matter who it is). The American people have been set up by this wasteful government. We've been put in a corner. Now Obama and Democrats are telling us they have to raise taxes/cut loopholes, yet those taxes won't cover the spending of government for more than a few days, a week, two weeks depending on the loop holes? The rich that will be hit hardest will take their money somewhere else (liberals will whine and cry about it and claim evil capitalists). The $250k earners will just be fucked.

[smooth]

I will leave this right here....

http://money.msn.com/business-news/article.aspx?feed=AP&date=20121113&id=15786146

Nice to see I will be working till the end of may for free just to cover my taxes next year. I am not a richer I dont make 250k a year, why are my taxes going up, I thought the 0 promised my taxes would not go up???

that stuff isn't what anyone is currently proposing. it came about because back in 2011 when the parties couldn't come to an agreement on the budget before raising the debt ceiling they came away with this "bargain" that kicked the can down the road for two more years (jan 2013).

there's something in that bill against everyone. it's meant to damage both parties enough that they'll do "something" about the impending budget concerns.

[MazterDizazter]

Children, play nice ;)

Well, I for one know I have better things to do with $2,000 than giving it to Uncle Sam to questionably fix the bullshit. I hope they find a resolution, and quickly.

[Vedubin01]

Quit trolling fucktard

You are such the bad ass behind your key board. I bet you make your mommy proud!

[tjts1]

Do you know what rhetorical means oh great R3v irony god?

Quit trolling fucktard

[joshh]

Then what was the point of asking, oh great R3v Troll?

Do you know what rhetorical means oh great R3v irony god?

[CorvallisBMW]

Then what was the point of asking, oh great R3v Troll?

[joshh]

Do you live under a rock? That's been the friction point over the last 2 years. Both sides have stated thousands of times why they're for or against it. Do some research

It was rhetorical. Of course that would be obvious to someone with more logic than you have available.
The third line makes it so rhetorical it's silly. Need some coffee?

[CorvallisBMW]

Why is Obama asking those making 250k+ to pay more in taxes? Has no one asked that of themselves?

Do you live under a rock? That's been the friction point over the last 2 years. Both sides have stated thousands of times why they're for or against it. Do some research

[Morrison]

Sleeve, last I heard, and I could be wrong, but the O wants to keep the Bush tax cuts in place for those under 250k, but expire for those over. So he does want to keep his promise to you, pending cooperation of those in Congress to actually make that happen.

[joshh]

Why is Obama asking those making 250k+ to pay more in taxes? Has no one asked that of themselves?

A deal between Republicans where Obama only makes the economy somewhat worse.

[mrsleeve]

I will leave this right here....

http://money.msn.com/business-news/article.aspx?feed=AP&date=20121113&id=15786146

AP) - American consumers and businesses will pay much higher taxes next year if a package of tax increases and spending cuts known as the "fiscal cliff" takes effect as scheduled Jan. 1.

The nonpartisan Congressional Budget Office says the measures would push the economy into recession and drive the unemployment rate to 9.1 percent next year. The rate is now 7.9 percent.

Below are the main elements. The estimated dollar figures are for calendar year 2013:
Amount, in billions
Higher taxes on income below $250,000, higher estate taxes, alternative minimum tax. $279
Higher taxes on income above $250,000. 52
Expiration of Social Security tax cut. 115
Expiration of temporary tax breaks for businesses and individuals. 110
Expiration of extended unemployment benefits. 30
Defense spending cuts. 32
Across-the-board cuts to education, health, law enforcement, other programs. 53
Total 671
Source: CBO, Tax Policy Center

The tax increases wouldn't affect everyone equally, though all taxpayers would pay more. Here are the average increases for people at different income levels:
Income level Tax increase
Lowest 20% ($20,113 or less) $412
Low-middle 20% ($20,114 - $39,790) 1,231
Middle 20% ($39,791 - $64,484) 1,984
Upper-middle 20% ($64,485 - $108,266) 3,540
Highest 20% ($108,267 and above) 14,173
Top 1% ($506,210 and above) 120,537
Source: Tax Policy Center

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Nice to see I will be working till the end of may for free just to cover my taxes next year. I am not a richer I dont make 250k a year, why are my taxes going up, I thought the 0 promised my taxes would not go up???

[rwh11385]

Seems the majority of people think that if we go off the cliff it'd be Republicans in Congress to blame and most think it's a major negative impact on the economy and their personal financial situation.

http://www.people-press.org/2012/11/13/broad-concern-about-fiscal-cliff-consequences/

[herbivor]

I also heard today that even if we did all the proposed tax hikes and spending cuts, we would only cut the current annual budget deficit by around half, so we're still spending more than we should be.
I blame Obama.:)