Posted on 12/20/2012 5:16:50 PM PST by kristinn
Capitol Hill reporters on Twitter writing Speaker Boehner has dropped Plan B fiscal cliff vote tongiht after revolt from House Republican caucus. House will recess until after Christmas.
After raucus closed dooor House GOP meeting, Boehner says House has already passed bills to cut spending and taxes to avert fiscal cliff and the ball is the court of the Senate and President Obama.
This is what happens to you when you give up your
Constitutional duties and responsibilites and pass the hard decisions on to a super committee.
Both Houses should have dealt with the issues. After their failure with the super committee and decision to raise the debt limit, the Congress set all of this into motion. Nothing happens in a vacuum and no one that voted for all this garbage is innocent...dems or repubs.
Obama supported the sequestration:
And vowed to veto any bill that tried to circumvent it.
http://en.wikipedia.org/wiki/Super_Committee
Votes have consequences...expiring Bush tax cuts and sequestration.....
Just think what will happen to the stock market if we keep spending at record high levels and incurring trillion dollar deficits each year. This isn’t about the stock market, it is about the survival of this country. It will take a crisis to focus the attention of both parties who would rather continue kicking the can down the road.
“It will take a crisis to focus the attention of both parties who would rather continue kicking the can down the road.”
Yes, and with a President that never “let’s a good crisis go to waste” this will end in ways that we never anticipated.
There is one person, and only one person, that is responsible for this “crisis”. Barrack Hussein Obama...
And starting next year Obamacare's taxes start kicking in.
If the majority of the public wants a European style welfare state with all the benefits, they must be ready to pay European taxes. Mark Steyn wrote,
A few months ago, I dined with a (pardon my English) French intellectual who, apropos Mitt Romney's stump-speech warnings that we were on a one-way ticket to Continental-sized dependency, chortled to me, "Americans love Big Government as much as Europeans. The only difference is that Americans refuse to admit it."
My Gallic charmer is on to something. According to the most recent (2009) OECD statistics: Government expenditures per person in France, $18,866.00; in the United States, $19,266.00. That's adjusted for purchasing-power parity, and, yes, no comparison is perfect, but did you ever think the difference between America and the cheese-eating surrender monkeys would come down to quibbling over the fine print? In that sense, the federal debt might be better understood as an American Self-Delusion Index, measuring the ever-widening gap between the national mythology (a republic of limited government and self-reliant citizens) and the reality (a 21st century cradle-to-grave nanny state in which, as the Democrats' Convention boasted, "government is the only thing we do together.").
Generally speaking, functioning societies make good-faith efforts to raise what they spend, subject to fluctuations in economic fortune: Government spending in Australia is 33.1 percent of GDP, and tax revenues are 27.1 percent. Likewise, government spending in Norway is 46.4 percent, and revenues are 41 percent – a shortfall but in the ballpark. Government spending in the United States is 42.2 percent, but revenues are 24 percent – the widest spending/taxing gulf in any major economy.
So all the agonizing over our annual trillion-plus deficits overlooks the obvious solution: Given that we're spending like Norwegians, why don't we just pay Norwegian tax rates?
Since you are trying to make a NATIONAL policy case based on your personal problems I will ask again.
What is your education and your work experience?
If you want my resume, you aren't going to get it on a public forum. I've worked military, active and reserve (enlisted, thank you), DOD, I've run an ISP and can do network addresses in my head and I'm a hell of a good cook.
Nervous about January?
My taxes are paid for 2013 on the property. All I have to do is keep the water going and feed me and the catz.
No cash money required.
/johnny
Exactly how will Obama keep this nation going if all that you mention materializes? Even socialists and communists are not immune to economic conditions that will take down the country. If you think that we can tax and spend our way out of this mess, then you are sadly mistaken.
With $60 trillion in unfunded entitlement liabilities, a growing debt driving up annual debt servicing costs, continuing to run trillion dollar annual deficits, a huge new entitlement program (Obamacare), an aging population that will double in the next 20 years, and just two workers for every retiree by 2030, you can't tax your way out of the problem. It will kill the private sector, which generates the money to fund the welfare state.
In many ways, we are worse off than Greece. Why should we act as enablers for Obamanomics? It is time the public realizes that there is pain associated with dealing with our fiscal reality. 80% of the population pays only 3% of the taxes.
Look, I fully understand your idea in the abstract but in the REAL world Republicans being tax collectors for the Obama/Pelosi welfare state is a complete disaster,
O and liberalism gets all the credit for being the loving Santa handing out presents and you get to be the Grinch grabbing money out of our wallets that we wanted to spend on our kids.
This is a plan for disaster.
Lay that at the feet of the RNC. They are the ones that changed the rules, trashtalked, and cheated to get their boy nominated.
You can bet I'm done with them.
/johnny
Joining the Dems for payback?
No wonder you are happy with Dems big victory tonight raising our taxes..
O does a real good compassion act, I can see why you are lured in with your problems.
I'm not asking for help with my 'problem' of having a free and clear house and property, local taxes paid for the next year, plenty of food set by going into winter, and only me and the catz to have to feed.
You, on the other hand, seem really worried about a tax hit on your weekly paycheck.
Not too long until January.
/johnny
No income means NO income. Not food stamps, not SS, not SSI, not medicare, nothing. Nada.
I'm not a taker. I'm a maker.
/johnny
Let’s just go over the cliff and deal with the consequences. The 80% who pay only 3% of the income taxes must get some more skin in the game. You can’t expect fewer and fewer people to pick up the tab. Let’s have this national conversation now.
Expect to see that, if Obama can get his way. Once it's clear taxing the "rich" doesn't work as it regards solving the revenue problem, they'll have to tax us all. It's called a VAT. The Eurotwits invented it. Easier to pass than a tax on the "middle class", whoever they are.
Asia and Europe down about 1%.
Not really a big deal - yet.
The Boehner Plan B logic passing higher tax rates on millionaires would increase the tax a few individuals have to pay, it would not increase tax revenues to the treasury.
The GOP needs to end. We need at least two parties.
Yup, I'm surprised everyone says this is the end of our fiscal sanity as in "fiscal cliff". It has been so with every TRILLION budget (continuing resolutions) since Obambi first took the WH and the US credit rating got downgraded. Am I the only one the remembers Bush's last deficit budget was ONLY 600 billion? I got to dislike the man, but come on, now a TRILLION plus every year under Obama? And the GOP never mentions it and the wheels go 'round and round.
We're heading towards Portugal, that is now THE failing Euro nation, worse than Greece. Liquidate and hide your assets is my motto. I'd buy gold/silver if weren't for the market manipulations by the big guys. I don't even trust that. I'm all cash and hiding it under my mattress, so to speak.
It's money that the takers can commandeer and leave you with an IOU for worthless fed treasuries/bonds. They are already talking about it. Trillions of dollars just sitting in all those retirement accounts. Think how tempting that is for politicians. Again, liquidate and move your money off shore.
I'm thinking Cayman Islands or Belize, and I believe Costa Rico. Switzerland is not as safe as it used to be with their recent agreements with the USA and others to allow investigation into so-called tax evasion. Do your own homework. There are some safe havens left...
I'm not hard-core Prepper, but I do believe in protecting the assets I have.
BTW. Weren't we suppose to all die as I write this according to the Mayans? Of courses, BS, but our greedy Fedgov wants more and more and more...
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