US Fiscal Cliff-

taxslave

taxslave

Hall of Fame Member
Nov 25, 2008
36,362
4,340
113
Vancouver Island
captain morgan said:
The gap will only continue to increase as long as the gvt motivates companies to look to make up the difference in the tax bill with cheaper solutions to the cost of doing business (read: foreign sources of goods/services and lowering wages domestically)... That and the potential that the wealthy companies/individuals seek to go offshore in terms of relocating their corporate HQ and/or physically moving themselves (individuals) to more tax friendly places.

That said, don't expect too much of a fight... Capital reacts very quickly and it takes nothing to wire it to another country
Click to expand...

Which may very well lead to punitive tariffs on imports. Which may not be all that bad an idea if it makes American based manufacturers competitive. Putting prospective customers out of work and therefore out of purchasing power will not help companies that choose to relocate offshore in the long run. It also will drive up the government's cost for social programs for the unemployed.
 
captain morgan

captain morgan

Hall of Fame Member
Mar 28, 2009
28,429
148
63
A Mouse Once Bit My Sister
taxslave said:
Which may very well lead to punitive tariffs on imports. Which may not be all that bad an idea if it makes American based manufacturers competitive. Putting prospective customers out of work and therefore out of purchasing power will not help companies that choose to relocate offshore in the long run. It also will drive up the government's cost for social programs for the unemployed.
Click to expand...

Fair enough - but all you have accomplished by the tariffs is to create a Mexican standoff, and (potentially) driving up unemployment, lowering GDP, increasing the # of people on gvt assistance and lowering tax revenues... This also says nothing (yet) about rampant inflation in that economy.

In the end, it isn't gvt that is investing risk capital, but it will be the gvt that is holding the bag in supporting more and more people that are destitute... Meanwhile those with the money will be easily capable of living be it in the US or elsewhere if they choose.
 
Locutus

Locutus

Adorable Deplorable
Jun 18, 2007
32,230
47
48
66
Obama Meets With MSNBC Bootlickers Rachel Maddow, Ed Schultz, Lawrence O’Donnell, Al Sharpton To Help Him Push Fiscal Cliff Plans…



What, no Tingles?

Via Politico:
President Obama met with a litany of liberal media personalities on Tuesday to push his tax cut message.

Spotted filing into the West Wing on Tuesday were Arianna Huffington of the Huffington Post and MSNBC’s Rachel Maddow, Lawrence O’Donnell, Ed Schultz and Al Sharpton.

The meeting was not on the president’s public schedule and White House officials initially declined to comment on the meeting. They later issued a statement to POLITICO:

“This afternoon at the White House, the President met with influential progressives to talk about the importance of preventing a tax increase on middle class families, strengthening our economy and adopting a balanced approach to deficit reduction,” spokesman Josh Earnest said.


Obama Meets With MSNBC Bootlickers Rachel Maddow, Ed Schultz, Lawrence O’Donnell, Al Sharpton To Help Him Push Fiscal Cliff Plans… | Weasel Zippers

​
 
T

tay

Hall of Fame Member
May 20, 2012
11,548
1
36
Obama’s $600 Billion In Spending Cuts Called “Unserious” By Republicans — Who Proposed Only $300 Billion In Cuts



Speaker of the House John Boehner (R-OH), who held a press conference to announce that President Obama’s proposal “wasn’t a serious one” because it didn’t contain enough spending cuts. In fact, Obama’s budget proposal was allegedly so unserious that Senate Minority Leader Mitch McConnell (R-KY) “burst into laughter” when he first saw the measly little spending cuts Obama offered in exchange for a tax increase on the wealthiest 2% of earners.

So what did Obama’s budget contain that was so hilarious as to elicit actual LULZ from the Senate Minority Leader? According to Bloomberg News, Obama’s budget proposal calls for roughly $600 billion in spending cuts:


It calls for $1.6 trillion in tax increases, $350 billion in cuts in health programs, $250 billion in cuts in other programs and $800 billion in assumed savings from the wind-down of the wars in Iraq and Afghanistan, according to the officials, who asked for anonymity.
​
Oh. That’s not really that funny. There’s not a even single Boehner joke in there, which would have been legitimately hilarious.
Okay, well maybe McConnell meant that Obama’s budget was funny in comparison to what the Republicans came up with? What did the Republicans come up with again? You with the beard, in the back, yes you, Mr. Krugman? What say you?

In his interview with the Wall Street Journal, Mitch McConnell finally mentioned a few sort-of specifics about what spending cuts the GOP wants: raising the Medicare age, charging higher premiums to affluent Medicare recipients, and changing the price indexing of Social Security. But how much does all this amount to?
…f we take all of McConnell’s ideas together, we get a bit more than $300 billion.


​
In other words, McConnell’s super-duper serious budget proposal calls for half the spending cuts that the Obama budget calls for. Oh now we get it!! Hahahahha, that’s hilarious, actually. Well played, Republicans.



Obama's Fiscal Cliff Budget Calls For $600 Billion In Cuts, Called "Unserious" | The Daily Dolt
 
T

tay

Hall of Fame Member
May 20, 2012
11,548
1
36
This video of Obama in 2011 is making the rounds online. In it he argues that up to $1.2 trillion in revenues could be raised by closing loopholes and limiting deductions in the tax code. More importantly, he signals that it can all be done without raising tax rates

That’s a far cry from the proposals he is putting out after his re-election........Charlie Spiering commentary, Wash Examiner




You see it's like this Charlie. President Obama has made numerous proposals over the last 2 years which the GOP have said NO, so now he has said alright then,you don't want to cut the perks such as deductions etc then I'm going to have tax you instead...........



He’s abruptly resigned to take over the right-wing Heritage Foundation think tank. But on his way out the door, the presiding prelate of the Tea Party in the Senate, South Carolina’s Jim DeMint, anathematized House Speaker John Boehner for the secular sin of offering a Republican proposal to raise revenue by closing loopholes and limiting deductions. As heresies go, it’s not much. Boehner has brewed a warmed-over Mitt Romney plan while omitting the noxious idea of voucherizing Medicare. Never fear, through: the speaker seeks big cuts in Medicare and Social Security benefits, proving again that something at the heart of the Republican Party yearns to shred the social safety net.

The deception of hiding blessings for the rich behind a tax break for the middle class, the drivel about “job creators,” the doctrinal fulminations of Grover Norquist with his pledge never, ever to vote for a tax increase—which has turned Republicans into Stepford senators and representatives—all this is a bankrupt strategy both in terms of policy and politics.


But whatever the way, we will end with tax rates at the top back up to the Clinton-era “job killing” level—when the economy created 22 million new jobs. Simultaneously or soon after, the tax cuts for the middle class will be restored.


Robert Shrum: Obama Won Election & Will Win Again on Fiscal Cliff - The Daily Beast





Tax the Rich: An animated fairy tale - YouTube
 
Locutus

Locutus

Adorable Deplorable
Jun 18, 2007
32,230
47
48
66
 
Liberalman

Liberalman

Senate Member
Mar 18, 2007
5,623
36
48
Toronto
Going off the fiscal cliff will trigger a depression and put the economy back on a normal course of growth and prosperity.
 
Locutus

Locutus

Adorable Deplorable
Jun 18, 2007
32,230
47
48
66
TAX FEARS: WASH POST rushes to pay 2013 dividends -- NOW...

WASHINGTON (AP) -- The Washington Post Co. will pay its 2013 dividends before the end of this year to try to spare investors from anticipated tax increases.

tax-on, tax-off

News from The Associated Press



Endorsed Obama...

Feds Borrowing $4.8 Billion Per Day...

Lagarde: 'Fiscal cliff' threatens USA supremacy...

Boehner: President wants to 'slow-walk' talks, wastes another week...

'Deliberate strategy'... Govt. borrowing 46 cents of every dollar it spends...
 
Locutus

Locutus

Adorable Deplorable
Jun 18, 2007
32,230
47
48
66
Newt Gingrich Schools Lawrence O'Donnell On Clinton Tax Hikes


Former Speaker of the House Newt Gingrich on Sunday gave Lawrence O'Donnell a much-needed education on the economic impact of the Bill Clinton tax hikes in the '90s.


As O'Donnell precipitated the exchange, he perfectly demonstrated why MSNBC commentators are far too liberally biased to be invited on NBC's Meet the Press (video follows with transcript and commentary):


Mr. Newt usually knows more about what you think you're talking about eh. :lol:

​
 
You must log in or register to reply here.
Top Bottom