The 2 rich people I have known and worked for were in industrial machinery manufacturing and contract services to governments.
There is no fiscal cliff. It is more like a gentle slope. Nothing much happens on Jan 1st. The tax rates going up on Jan 1, 2013 will not be paid until April 15, 2014.
I actually like the so called Fiscal Cliff (FC). It is the only way we will get some real cuts in spending. There is no other way the politicians will vote for serious spending cuts.
I hate the military cuts, but we are bankrupt country by any measure. It is foolish to maintain 800 military bases in foreign lands on money borrowed from China. It is more stupid to protect oil lanes to China in the middle-east with money borrowed from China. Lose-Lose for us, win-win for China. We need to wake up otherwise we will be Greece in 3-5 years and China will own our companies, buildings, golf courses, and many other business assets.
I would rather take the long tough road of austerity and a long term recovery for younger generations. Going bankrupt will be far worse. Borrowing 41 cents out of every dollar spent is the real fiscal cliff.
On subject of rich people, they got rich by creating products and services people need and buy. When Bill Gates invented Windows operating system and became world’s richest person, he did not steal money from my pocket or yours. His products increased productivity and created million times more wealth that his personal wealth.
This is the point leftists and socialists do not get, and our politicians do a poor job of explaining to the unwashed masses. Wealth is not a fixed pot to be distributed. Wealth must be created year after year so more can share. It is as dynamic as anything gets.
I have no problem at all with people creating wealth. That is what America is about.
I do have a serious problem with wealthy people going to Washington and using the power we gave them to close the door on the rest of us, which is exactly what they are doing.
They are attempting to create two classes of people in this country. The ruling class and its subjects, and that is all there is to it.
With regard to the fiscal cliff, whatever it is or is not, it is a lodestone that is going to be hung around the necks of the GOP in such a manner that they will never be able to remove it. What makes it more ironic is that they negotiated into existence their own lodestone, and now they are putting it around their own neck.
What the fiscal cliff actually is is a perfect illustration of just how stupid the stupid party actually is.