Dec. 27, 2012 - PPM - Fiscal Cliff

This week's PET PEEVE MONDAY has been moved to Friday because of the Holidays. The " Fiscal Cliff" fallacy is this week's PET PEEVE MONDAY (PPM).

The term "Fiscal Cliff" is a politically generated term. The "crisis" is manufactured by our politicians and by their incompetence. And now we have been a party to the very public negotiations. None of these "leaders" could hold a mid-level management position based upon their poor negotiation tactics.

Amid all the political and media hoopla about the "fiscal cliff" crisis, a few facts are worth noting.

First, the Democrats want to raise the taxes on the rich or 2%. If that is done, it will scarcely make a dent in the government's financial problems. It will cover government spending for 9 days.

Next, the President wants to delay Sequestration, the planned budget cuts of the military and some entitlements. He stated in the 3rd Presidential debate that it wouldn't happen, yet HE is the one that signed it into law. Without spending cuts, we will NEVER get our fiscal house in order.

Finally, the White House's initial negotiating offer would give Obama the authority to raise the debt ceiling essentially to infinity without congressional approval. This not only goes against the Constitution, but it is insane. Since when does the Credit Card holder establish their Credit Card LIMIT?

My take , is that we ALL should go over the fiscal cliff like Thelma and Louis.

Tax hikes affect everyone, especially when they're used as an excuse to ignore our phenomenally large and fast-growing debt. If the Clinton rates were so desirable, EVERYONE should go back to paying the Clinton rates.

This class warfare is shameless. Do the wealthy or rich drive on better roads? Do they have receive better national defense?

I have advocated for years that we should have a consumption tax. Exclude necessities or healthy food. Tax all the sins: cigarettes, liquor, sweets

In 2009, Obama said it was time to stop kicking the can down the road on entitlements. It's almost 2013 and he's kicking harder than ever before.

No previous administration in the entire history of the nation ever finished the year with a trillion-dollar deficit. The Obama administration has done so every single year. Yet political and media discussions of the financial crisis have been focused overwhelmingly on how to get more tax revenue to pay for past and future spending.

We don't need new taxes, we need new taxpayers. It's a simple model, taught in Econ 101 classes: Lower taxes, Create jobs, Tax revenues will rise.

A rising tide, lifts ALL boats.



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