The Cliff. What Will It Mean?

[peanutbutter]

The folks in DC seem to be set on letting everything crash.

 

The price of milk is supposed to hit $7 per gallon.

 

Unemployment extended checks are supposed to stop.

 

Just one day left to avoid ending the war on drugs.

[free country 420]

o dont say that bro it will prolly wake em up lol

[free country 420]

personally the way i see it im a part of what you call the "working poor" under poverty all the time and living pay check to pay check so that being said i figure ill lose around 500 dollars a year i can deal with that cliff......now you guys lucky enough to be in the higher tax brackets(middle class/upper class assss) i see a lot larger loss...

Edited December 31, 2012 by free country 420

[shishka]

Lets drive this bus off the f ing cliff! We need to pay more taxes if we really want to achieve the "good life".

 

Who do you want to pay for it?

[peanutbutter]

Yeah .. that is the headline. More taxes.

 

Hardly anyone putting out the story about what is going to be cut.

 

So we're on target for higher taxes and less benefits at the same time.

[peanutbutter]

We avoided a reduction in credit rating by setting this cliff up.

 

The idea was that we would be forced to take drastic action against run away spending.

 

If they kick the can down the road, it is likely that our nations credit rating will be cut again.

 

Congress set up automatic 30% across the board spending cuts. To take effect Tuesday.

[peanutbutter]

So we have an almost deal.

 

Taxes go up.

Spending goes up.

 

That means our interest rates go up.

 

Normal any time that your ability to pay your debts becomes questionable.

Edited December 31, 2012 by peanutbutter

[Celliach]

Yeah .. that is the headline. More taxes.

 

Hardly anyone putting out the story about what is going to be cut.

 

So we're on target for higher taxes and less benefits at the same time.

 

Who here is making more than $250,000 a year? I know I'm not. That's who they want to tax, but the Republicans are saying that everyone's taxes should go up instead of just raising it on the top 2.5%. Taxes will go up automatically for everybody unless they change it. Obama and the Democrats want taxes to stay the same for everyone but those making $250,000 or more but the right wing of the Republican party is saying we can't raise any taxes on anyone. Because they won't agree to more taxes on the wealthy, taxes will automatically go up for everyone. I think they're banking on the American public to not fully understand what's happening so they can deflect the blame.

[Celliach]

http://news.yahoo.com/house-wont-vote-midnight-cliff-deal-211949556--politics.html

 

House won't vote before midnight on 'cliff' deal

 

WASHINGTON (AP) — The House will miss the midnight Monday deadline lawmakers set for voting to avoid the "fiscal cliff."

House Republicans notified lawmakers that the chamber will vote Monday evening on other bills. They say that will be their only votes of the day.

President Barack Obama and Senate Republican leader Mitch McConnell said Monday they are near a deal to avoid wide-ranging tax increases and spending cuts — the fiscal cliff — that take effect with the new year.

Both men said they were still bargaining over whether — and how — to avoid $109 billion in cuts to defense and domestic programs that take effect on Wednesday.

It remained unclear whether the Senate would vote Monday.

Congress could pass later legislation retroactively blocking the tax hikes and spending cuts.

[Celliach]

I guess it was more important to protect the rich people's tax breaks than it was to avoid everyone else's taxes from going up too.

[pic book]

The price of milk is supposed to hit $7 per gallon.

Yeah, so why taxpayers subsidize milk $4 per gallon?

It took this to stop that lunacy?

Hallelujah.

[Restorium2]

What the cliff means;

The cliff is the line between saying they are raising taxes and saying they are lowering taxes. They will wait until we go over, then quickly pass legislation that is tax relief. The same legislation would be called 'raising taxes' the day before. It's all about timing. This way they can all say they voted to lower taxes.

[peanutbutter]

Yep .. everyone is thinking it's all about taxes.

 

The media wants everyone looking at taxes and ignore the rest.

 

250 or 400? If interest rates jump to over 20%, what difference does it make?

 

Then they talk about "entitlements." OH!! I understand!! If you are going to cut spending, the only place cuts are going to be made are in things like social security payments.

 

Fair is fair ..

 

BTW .. Government workers got a pay raise today. Even though it has to be put on our credit card bill.

[peanutbutter]

We have arrived at this point because of a deal made with a credit company.

 

They lowered our rating and said they would stop there IF we did something about the debt.

 

Standard and Poors. (That company that the S&P500 is named after)

 

Remember folks .. follow the money.

 

So .. we broke our promise with S&P ..

[peanutbutter]

Ahh!! we didn't!!

 

We went off the cliff!! Corrective measures will now automatically take place.

[peanutbutter]

The bankers win.

[peanutbutter]

So where do the cuts take place ..

 

I have a suggestion. End the war on drugs.

 

It's a waste of money that we can no longer afford.

[GregS]

What will the fiscal cliff mean??

 

Now with the anger toward the GOP among their own caucus members for party intransigence in its refusal to afford disaster relief to Sandy victims, it is the end of the world as they know it. The Mayans may have been right, if only for the wicked.

Edited January 2, 2013 by GregS

[GregS]

Boehner is toast.

Edited January 2, 2013 by GregS

[GregS]

I dunno if Boehner not being reelected as Speaker is a good thing. Cantor will be in the running, and he is a sonofabitch.

[maxmax]

and if you make $50,000 a year you will pay a extra grand a year in tax's

[peanutbutter]

and if you make $50,000 a year you will pay a extra grand a year in tax's

 

This isn't about taxes. The media wants us thinking that that's entirely what it's about.

[Restorium2]

This isn't about taxes. The media wants us thinking that that's entirely what it's about.

This is about the GOP running us into the ditch for years, with war spending, and a Bush plan to put as many Americans in homes, even if they can't afford it( think back to the Bush housing speech), so they can demand change.

[peanutbutter]

This is about the GOP running us into the ditch for years, with war spending, and a Bush plan to put as many Americans in homes, even if they can't afford it( think back to the Bush housing speech), so they can demand change.

 

And it's not about who is the best finger pointer.

 

It's about the size of government.

 

So who is going to get laid off?

[Celliach]

PB what parts of the government do you want to trim?