Flying over the fiscal cliff here in just a few hours and I must say I am proud that President Obama and the Democrats have finally found their backbone. The only way to deal with bullies is to stare them right in the face and show them that you are not afraid. You have the people behind you Dems! Don’t let us down.
Please share widely!
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according to the huffington post they’ve reached a deal. I am willing to support a compromise at $400,000 tax rate threshold, so I hope that isn’t too much of a sticking point. I would like to know what the tax rate for dividends will be. I think dividends should be taxed as earned income or at least at 28% with exemptions for lower earners. I haven’t heard anything about that lately. I hope it’s still a part of the deal.
apparently it still is. Since that is the one of the things that keeps Dems shaking in their boots. As if we all don’t know that the stock market is WAAYYYY over valued, and could use a little bit of a reality check. I mean really, 12+% growth in one year. It always goes back to Wall Street, doesn’t it.
cnbc.com
…I am largely pleased with the deal. Only problem is there is no guarantee the House will go along with what Biden and McConnell have come up with.
and let everyone know the details.
The Republicans were out of leverage and can now hold the President and all of us hostage with another manufactured debt ceiling crisis in two weeks, GOP can take some BS credit for bipartisanship ad raising revenue and demand more cuts from the working class later. The issue shifts from tax inequality to deficit reduction which we don’t need now. But had we gone over I am sure Obama would’ve been blamed and the markets would stick it to him. It’s a patch not the lasting victory we needed and might’ve had if we killed the Bush tax cuts and started from scratch.
with a confused look wondering who the heck they are representing, because it has become very clear they do not represent the majority of Americans. Let them demand cuts from the middle working class, the poor and modestly incomed seniors. Then let the Democrats say no. Because those of us sitting here on Main St. are applauding the strength the Democrats are showing, and do not want too much compromise with Republicans.
It cracks me up that they still speak of the debt and deficit, which is always followed by the problem of “entitlements”. People get it now. They can stop talking about entitlements. People know there is plenty of waste in government that can be addressed. Cutting entitlements helps the top 2 %, it does not help the economy, and everyone knows it.
Let the market tank a little. It’s a parasite to business and a sucking straw draining the prosperity of others. Yes, my entire modest retirement is in there, but for every 100 dollars the “free market” drains from my household budget, I get about 5 dollars back in my retirement account. On the other hand, the million and billion dollar holders are raking it in, and CEO’s make more money than the finest doctors. The nonsense has to stop. It will stop. One way or the other, it will stop.
I agree that in order to get the lasting victory we need, we need to start from scratch. That is the only way to get real change.
until they are hammered out between the crazies in Congress and the Senate. Let’s hope thinks work out for the best. It looks like the next Speaker of the House, Eric Cantor, will scuttle the Senate deal.
n/t
I was wrong.
A toddler throwing a tantrum. It is hard not to follow my instincts and just ignore them. More like a toddler throwing a tantrum surrounded by crystal and fine china, unfortunately they can do serious damage even if the reason for the tantrum is as silly as a two-year-old’s.
I’ve been thinking this (a “tantrum”) for awhile, and your elaboration of “surrounded by crystal and fine china” is the aspect that captures the gravity of the situation for me.
These right wingers really ARE acting like three year olds.
it’s a tantrum by badly-behaved toddlers for about two years now, if not a bit more. I’m sort of OK with this deal. At least the income tax rates go back up on taxable income over $400/450K. Should have been $250K since even that affects a tiny sliver of households. And even that wouldn’t be enough revenue to get things in order. At least capital gains tax and dividend tax go up a bit, if not enough. At least unemployment was extended a year. At least no chained CPI.
But this time the Dems held the leverage. All Bush tax cuts were expiring if nothing happened. The GOP, if not too dumb to take the deal, got much better than nothing. The true test will be when the debt ceiling comes up and Obama has, as in 2011, little leverage unless he’s willing to see default and let the lunatics in the House take the blame. What hostage will GOP try to take then? I keep hearing Obama won’t give up anything for the debt ceiling this time. We’ll see. I’ve heard that before so I’m cautiously optimistic at best.
I’d be writing my televised address to the nation on the debt ceiling right now.