Keep fiscal cliff law intact

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President Obama, Senate Majority Leader Harry Reid and other politicians, along with the national media, are frantic to change the so-called fiscal cliff law. They have now decided it is a disaster.

Yet, the law did not descend on us from the skies. Reid, with the Senate and House, all voted for this law two years ago, publicly congratulating one another for their shrewd insights. Obama praised the bill and signed it into law. The national media lauded its passage and those responsible for avoiding economic problems “in our time.”

Now that the law may become reality, nearly all concerned disavow their part in creating it, and hope the public forgets their roles.

It is time to stop voting ourselves benefits and passing payment for them down the road to our grandchildren and beyond. Keep the law intact. After about six months of turmoil and some hardship, the stability from lower deficits and debt finally could revive American enterprise. The resulting economic renaissance might surpass anything in our history.

Everett Schultz Jr.

Augusta

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omnomnom
3964
Points
omnomnom 12/29/12 - 04:07 am
4
1

Applause! Applause!

Both sides created this "manufactured crisis" and... you know... you should never let one of those go to waste.

The fiscal cliff amounts to a .3% cut in overall spending.

soapy_725
43306
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soapy_725 12/29/12 - 09:24 am
0
0

Propoganda to instill collective fear

Unpublished

and gain power. Just another "state power play". Another national crisis. "Who will save us?" The federal government is going to control and or own everything in the USA. The clock is ticking. We have already gone over the cliff. As with dreams, hitting bottom is the unknown. Lets look at Iceland? But it is a poor control for the real world.

Bizkit
21866
Points
Bizkit 12/29/12 - 11:08 am
3
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I think the Congressional

I think the Congressional Budget Office said that it would cause an immediate recession but in the long haul we would come out better off. Sounds better than either Dem or Rep solutions which is just kickin' the can down the road.

nofanofobama
6163
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nofanofobama 12/29/12 - 12:45 pm
2
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Best plan on table yet. Now

Best plan on table yet. Now everyone is going to pay. Hopefully the 47 percent drops to 20 percent. Then maybe they will see its not for free.

Little Lamb
40104
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Little Lamb 12/29/12 - 12:46 pm
3
0

Excellent Letter

I could not have said it better, myself. Thank you, Mr. Schultz.

If we go over the fiscal cliff on Tuesday, then on our next paycheck our withholding will have gone up a tiny bit. If we are self-employed, then our first quarter tax payment will be a smidgeon higher than our last quarter payment. The would will not have ended.

On the other hand, federal bureaucrats will have to begin figuring out how to spend less money. Do they have any personnel they can RIF? Can they do with fewer supplies? Can they hold onto their vehicles longer? Can they print fewer books and brochures? Can they rescind some rules and regulations that cost them a lot of time to collect data that is not meaningful in the long run?

Yes, the soul-searching within the federal bureaucracy will be well worth our going over the cliff. It's time to cut spending.

Little Lamb
40104
Points
Little Lamb 12/29/12 - 12:51 pm
3
0

Sequestration

The whole idea of the law that would allow income tax rates to rise to the Clinton-era rates, coupled with sequestration in spending was to begin putting a dent in deficit spending.

Obama's offer to Boehner is to allow some rates to rise (it actually amounts to but a token – only a symbol – imposed on the evil rich) immediatey, and then to begin slow, deliberate negotiations in 2013 to address the spending cuts.

That reminds me of Popeye’s friend, Wimpy. Do you remember how he said, “I’ll gladly pay you on Tuesday for a hamburger today.” ?

Is John Boehner going to become the nation’s Wimpy?

RMSHEFF
10990
Points
RMSHEFF 12/29/12 - 03:27 pm
2
0

Lower Deficits.... Ha Ha Ha

The letter writer says "After about six months of turmoil and some hardship, the stability from lower deficits and debt finally could revive American enterprise. I know his intentions are good however does not know much about economics. He is laboring under the illusion the democrats are trying to put forth. This whole "dog and pony show" has nothing to do with reducing spending or applying any increased revenue toward deficit reduction. It is: a) About punishing the so called wealthy for being successful ie: "fairness or fair share" b) Increasing revenue to Washington so they can increase spending ie: buy more votes to secure their reelection. Just look at what happened to Reagan when he allowed the democrats to increase tax rates in exchange for spending cuts....the spending cuts never came about , spending increase along with the deficit. History also shows if you want to increase revenue to Washington you cut taxes and if you raise taxes revenue decreases.

dichotomy
26594
Points
dichotomy 12/29/12 - 09:42 pm
2
0

Everyone keeps talking about

Everyone keeps talking about the debt we are passing on to our kids and grandkids. I frankly do not think we are going to last that long. Four years ago we HAD a debt that we would be passing down to our kids and grandkids. Things are changing fast. We have had two credit downgrades already. We may well have to eat this debt, or more correctly , the results of this debt, in our own lifetime. You know how long you can continue to borrow 40% of everything you are spending? Not very.....that's how long. Especially when the whole world sees that not only are you not trying to decrease your spending...but you have an insane party in charge that wants to INCREASE spending.

Little Lamb
40104
Points
Little Lamb 12/29/12 - 11:47 pm
2
0

Best Deal

The current law allowing tax rates to rise and forcing across-the-board cuts in spending is better than any deal so far offered by Obama, Boehner, Pelosi, or Reid (not that Reid has offered anything, but the cliff is better than nothing).

itsanotherday1
34585
Points
itsanotherday1 12/30/12 - 12:52 am
2
0

Dittos LL; let her drop over

Dittos LL; let her drop over the cliff. That is better than any alternative Obama will sign.

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