Since Obama will not agree to cut any spending, it is increasingly clear that the cliff is the only answer. We'll all pay more but we will anyway.
Boehner must tell Obama to blow it out his BA.
Treasury Secretary Timothy Geither told CNBC Wednesday that Republicans are "making a little bit of progress" in "Fiscal Cliff" talks but said the Obama administration was "absolutely" ready to go over the cliff if the GOP doesn't agree to raise tax rates on the wealthy.
The problem with Boehner telling the enept incompetent Obama to shove it is the simple truth that the dems have already won the argument with the gullible public. The foolishness of the Republicans to adhere to not raising the taxes on the top 2% I believe cost them the election. Personally, I don't think taxes should be raised on anyone but polls show that most Americans agree 2-1 with Comrade Obama on this and it is likely to make our Campaigner-in-Chief the good guy in the government's failure to go over the cliff. Worse, if the repubs give in now, it looks like Obama wins and he will ride that better he rides Michelle! Republicans better start thinking long term. The top 2% will always finsd a way to get rich and stay rich. Meanwhile rich libs in NY and CA can plan to get hammererd by Obama as their taxes go up and their deductions go down. Someone needs to tell Bonehead to agree to higher taxes on the 2% and then turn it back to Obama to show exactly what kind of a class warfare, hate-mongering president we actually re-elected.
Obama now wants $1.6T in higher taxes instead of $800 billion and that implies that those earning under $250,000 will also get hit by the wealthy tax.
I did tax selling today and got rid of GDX and XLE to harvest losses. Do not hate either stock but want to make sure I pay least possible tax in 2012.
Obviously all he cares about is wealth redistribution.
He can't make everyone wealthy.
He can take wealth from the rich.
You saw the DOW hit 6,600 after he was elected.
You saw housing values get decimated.
That's how he can take from the wealthy.
Our President would like to STOP the redistribution of wealth.
You see, the richest Americans now are far, far richer than they were a decade ago, whereas the rest of us are mostly poorer. There are multiple reasons for this, but a major one is the drastic lowering of income taxes, which affect primarily the rich, whereas the rest of us, for which income taxes are a small portion of our tax burden, have been subject to the great Bush recession, lowered wages, cancelled pensions, and increased costs for everything from health care to bread.
The laizzez-faire capitalist system is currently an enormous failure,- as it was in 1873, 1893, and 1929. From 1932 through 1980, the government kept the crony capitalist crooks in check, and the country as a whole benefitted enormously. Since then, the typical boom and bust cycles are back with a vengeance. Only a government OF the people can put a stop to the lunacy of our corporatocracy. Unfortunately, we have mostly a government of the ignorant Teabaggers for the corporate criminals.
It's time for a NEW " New Deal". Actually, it's way past time.