When you come to a fiscal cliff, jump
Read Time:3 Minute, 12 Second
Market watchers and economists and all sorts of others are in a tizzy over the “fiscal cliff.” For those who don’t know what it is it’s simply the time when the Bush tax cuts and Social Security payroll tax expire at the first of the year. Without action by Congress to stave this off, not only will taxes for everyone go up, but automatic spending cuts go in to effect as well.
This scenario scares rich people because a poor guy who nets a million dollars a year would see his/her taxes go up 30 grand. The price of a nice Rolex. God forbid our Nation be able to keep the promises we made to our Veterans and Seniors because a rich guy needs the latest Rolex. His after tax income of 640 grand instead of 670 grand would surely put the poor guy in the poor house. Between all the Canadians crowding our clinics cause they hate their socialist medical system and guys bringing home 640 grand after taxes lining up at the Salvation Army soup kitchen, the poor’s suffering will be multiplied by having to wait in line even longer.
For most of us 30 grand is a lot of money. But when put in the context of how much more those in that tax bracket benefit from the largess of America, it’s not that bad a deal for them. With their tax cut they buy a new Rolex. I get a meal at Taco Bell once a week. As much as I enjoy a good Mexican Pizza, it ain’t no Rolex that was paid for by pushing our Nation deeper in debt. The government can have my tax cut back. I’ll find a way to get my Mexican Pizza from Taco Bell just as I’m sure a guy bringing home 640 grand rather than 670 grand will find a way to get this year’s new Rolex model.
Those who call for Congress to work to avoid the fiscal cliff are either idiots or greedy bastards who care more about their government goodies than our Nation’s fiscal health. A weak government doesn’t have the resources to fight unfair labor practices. So greedy billionaires donate millions to Mitt Romney that they ironically could have just used to compensate employees and deduct that expense and pay less taxes. With the added benefit of bringing more cash to a middle class that would have more spending power to buy stuff from billionaires. But instead it’s drive down wages as much as possible and demand government cut spending as long as it builds 15 ships the military says we don’t need every year and demanding government not raise taxes to pay for them while shouting the deficit is out of control. I guess logic isn’t part of the requirements to be a billionaire.
Many said back in the early days of the stimulus we should just let everything go bankrupt and start over. They figured, I as well I admit, that misery was coming and we should face the music now and fix it. Here’s our second chance. The fiscal cliff is just around the corner. Taxes will go up for everyone. The rich that benefit so much from our system will pay what they were paying during the Clinton presidency. A bloated defense budget will finally have some limits put on it. Decisions our Congress is incapable of making due to cronyism or obstruction will be made for them. On the whole, going over the fiscal cliff doesn’t sound so bad. I say “jump.”
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Outstanding Joe, glad to know I’m not alone in my thoughts on this! The discourse right now seems akin to a household in severe debt, that’s all in a tizzy because if they don’t take action soon, their income will go up and their expenditures will go down. I say, go for it.
This idea has been pushed for months by Lawrence O’Donnell on MSNBC as a way of neutralizing Grover Norquist. Once we are over the cliff and all taxes are up, tax cuts for those making less than $250,000 can be offered with out any congressman violating their pledge to Norquist’s group.
However, consideration must be given that under the tax structure of Bill Clinton, which will be where we are if we go over the cliff, we had an extremely robust economy and actually had a budget surplus.
This has to be a Luntz focus group tested sound bite, because damn near every GoOper is talking about this. Far as jumping, if they get scared about it, I will gladly stand behind them and push them off the damn cliff. I’ll be taking one for the team, when I get popped and defend myself using the “bastards drove me to insanity with this bullshit” mode of lawyering 🙂
I was thinking ore of the old martial arts lesson that you must empty your cup to accept something new. 😉
You have learned well Grasshopper. As to the “fiscal cliff” I suspect the Right will fall in line. There will be a lot of weeping, wailing and gnashing of teeth but eventually they will see the president means business and this time he doesn’t have to play games.
Well said James. You gotta tear it down before you build it back up.
When you practice fiscal irresponsibility, as the banks did prior to their “Bail out” (nee robbery) you will have to bite the bullet sooner or later. Delaying it will not make the bullet softer or taste better.