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JPMorgan Chase & Co. Message Board

  • texas_sharlok texas_sharlok Dec 27, 2012 1:34 PM Flag

    Cliff punge

    Much anticipated panic plunge at the cliff has started....where will stocks find a bottom?

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    • Falling off the fiscal cliff is the best thing that could happen to this country. Currently, 47% of the people in this country pay no income taxes, the burden is shouldered by the other 53% of the population. That's not right nor fair, it creates a class of moochers, demanding higher taxes on others so that they can get more government services. If we fall off the fiscal cliff, the average tax burden on every household will be raised to support all the programs that this country demands.

      Currently, this country is fiscally insolvent, with a deficit of $16 trillion or a debt of $53,000 per every man, woman, and child in this country. And government entitlements/spending continue to grow the deficits at $1 trillion, or $3400 for each person, per year. These debts are just being passed down to our children/grandchildren, and they will surely pay the price at some future date. If the country falls off the cliff, government spending will drastically decrease, by law.

      If the country wants/demands a panacea of programs for everyone, then everyone needs to be taxed and the government needs to exercise responsible 'within their means' spending.
      Falling off the cliff will cause a short term drop in stocks, but it will also raise revenue and at the same time cut government spending, thereby reducing deficit spending with money the country doesn't have.

    • Who created the name "Cliff" to scare people?
      Only a small ditch, not cliff.

      Sentiment: Hold

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