Posted on 11/21/2012 10:50:23 AM PST by Ernest_at_the_Beach
Remember that this supposed fiscal cliff is the direct result of two contradictory impulses in American life: Greed and guilt. Greed for low taxes, a strong military, a strong safety net and lots of government spending for everyone. And guilt that we weren’t paying our way. Read “Stop calling it a ‘fiscal cliff’”
All of us (or almost all) had a role in this melodrama, either benefiting from the spending or from the lower tax rates. Despite our culpability, it took strong national leaders to foster the heady mix of greed and guilt that brought us to this spot.
Here are the 10 people most responsible for bringing us to the edge of the fiscal cliff:
(Excerpt) Read more at marketwatch.com ...
Whatever happened to the old and much better descriptor “cliff-hanger” that alla us ol timers rememmer? Wasssup wid dat???
It, the Laffer Curve, has worked every single time it has been tried and that's why the libs hate it!!!
This completely liberal author is a hold-over from when MarketWatch.com was known as CBSMarketWatch.com. This entire piece is a gigantic steaming pantload to put it mildly IMO!!!
The sails had "SPENDING" writ large upon each one of them.
But sometimes it is useful to see what some of the leftist on market watch are posting....
I think there is one on MW that is further left than this guy....I have forgotten his name I'll remember it when I click on one his creations though.
How about just fix the system doing triplets....
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You mean the Leftists won't dispute it ?
ROFL!
I saw it and without thinking of you in particular, wished I'd had the time to post it as a pinyada, yada, yada!!! (smirk)
The guy is as stupid as the people who are trying to put Americans on a guilt-trip over our totally and purely American Holiday of Thanksgiving to God for surviving another year.
I just watched the Ken Burns series on PBS about the phenominal dust storms during the depression and even those people gave thanks to God for still one more chance in case the drought broke.
The liberals show themselves as simply maddening godless maniacs on a constant, continuing basis. Their mental illness knows no bounds as they perpetually blast the standards that made America the envy of Earth!!!
Now we have Bernacke and tiny Tim "crying wolf" like Paulson did about the so-called "fiscal cliff" in '08 that stampeded "W" into prematurely pulling the ripcord fearing that if he didn't, he and the Repellicans would forever be branded as the worst since 1929!!!
Happy Thanksgiving, my FRiend and don't forget to count your blessings as liberals don't believe in it. They've already collected all the piddly little blessings the "makers" can provide the "takers!!!"
God bless you and your CONSTITUTIONAL belief system!!!
The core economy wreckers are Dodd, Frank, the deceased killer of Mary Jo, Pelozi, and any other tax and spend Socialist who has spent DECADES as an elected member of the Legislature.
If the US income tax rate was reduced to a flat 1%, would it result in an increase in tax revenues?
Of course not. It would probably result in a huge economic boom, but government revenues would drop by 95%+.
The Laffer Curve is always accurate, IMO. But whether a reduction in rates causes an increase in revenues depends on where you start on the curve.
Real 10 people.
1. LBJ- Combined social security revenues with the general fund and ensured social security would be unsustainable. Created social programs with no thought of how spending would increase and how to pay for it.
2. Democrat congress of 1970’s- created budget process that prevented president from controlling spending. Made budget process ensure budget would not be balanced.
3. Jimmy Carter- Began first deficits during periods of prosperity. Deficits started in mid 1970’s as president lost control. Carter created huge deficits and brought social security close to insolvency. Promoted loans to Communist and 3rd world countries that were not repaid and caused other problems. Created a legal and regulatory climate that crippled American industry and brought about an uncompetitive situation in the late 1970’s when U.S. industries could no longer compete.
4. Speaker Wright, Tip O'Neil and others- fought attempts to control Federal spending and get entitlement spending under control.They also promoted S and L fraud which required billions of taxpayer money to bail out.
5. Bill Clinton - Began interpreting and enforcing the Community Investment Act to require banks to make bad loans. The so called Clinton Surpluses never existed in real life. They were a result of the short-term Dot.com stock bubble that created huge capital gains tax revenue.
By 2007 the budget deficit was a small percentage of GNP the economy could have produced a balanced budget.
6. Barney Frank and the others - encouraged bad mortgage loans and prevented the regulatory oversight of Fannie Mae and Freddie Mac which created billions in sub prime and fraudulent mortgage loans which went bad.
7. Nancy Pelosi - Became speaker in 2007 and immediately began destroying the economy increasing spending. In less than 2 years the economy was dying.
8. Harry Reid- Prevented fiscal responsibility since he became Senate leader in 2007. Did not complete a single budget since 2008.
9. Barack Obama - Created the first multi-trillion dollar deficits in history. Increased Federal spending dramatically. Created an anti-business environment that made economic growth impossible.
10. George Soros - Backed the Democrat Party and pushed for irresponsible spending. Undermined the American Economy.
The so-called fiscal cliff is just the Democrat Party and the government “running out of other peoples money” to paraphrase Mrs. Thatcher. The fiscal cliff is just the irresponsible spending of the last several years becoming unsustainable.
I have no idea why that posted THREE times! I only clicked on the post once. That is really weird! When I have double posted before, it’s because I thought it did not post and clicked on the post more than once, but this time I know that I definitely did not do so!
Have you been to the Site and signed in for free and looked at the wildast comments to this article. Makes FR look kinda tame!!!
Agreed!
Mark Twain is the source of my new tagline. I think it’s fitting.
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