10 who led us to the fiscal cliff

They fed our greed and guilt and told us we could have all the spending and tax cuts, too. While practically all of us had a role in this mess, these 10 stand out.

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VIDEO ON MSN MONEY

403Comments
Dec 6, 2012 10:45AM
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"Low Taxes, Lot's of Spending" .... Really???  This statement is very subjected and opinionated!!!  I say, SIMPLY -  LOTS OF SPENDING!!!  and little representation!!!
Dec 6, 2012 10:42AM
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Brutus Said

Letting private citizens keep their own wealth is NOT socialism.

 

I would say tax loopholes, unfair deductions, taxx havens, lobbyists, lower rates, laws that help outsourcing are not socialism, your are correct.

THEY ARE F'ING CRIMINAL!!!!!!!!!!!!!!!!!!

Also I would say allowing companies to pay crappy low wages so that they qualify for government assistance is socialism, it is taking from the middle class and giving it to the top 2%, and the Chinese who get all the manufactoring jobs that used to pay better. 

 

You can say get a better job but what job?  There aren't any, they were sent over seas or visa's were issued so Mexicans could come and do jobs in the USA.  Jobs an american won't do, ha, not for the poverty wages they pay!!!!!!  Hell now illegals are building houses, they will work for less then half of what they would pay an American, how many jobs were lost there?  Has the problem been fixed, not by either side!!!!!

Dec 6, 2012 10:38AM
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What tax increase did we have to fight the war in Vietnam?  Johnson implimented the Kennedy tax reduction. 

Dec 6, 2012 10:26AM
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ISN'T IT FUNNY - it's called Socialism when it benefits the middle class and poor.
It's called Capitalism when it benefits the wealthy and big business.

What are the Bush tax cuts for the wealthy, which combined with their tax havens, give the very wealthy one of the lowest effective tax rates in history -so low that many of the very wealthy pay a lower effective rate than many middle class workers pay?> It's Socialism for the rich.


Dec 6, 2012 10:19AM
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with more articles like this, msn will soon need a government bailout.
Dec 6, 2012 10:16AM
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We the people need to execute the lot of them for TREASON: I'm thinking public hangings
Dec 6, 2012 10:16AM
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Among other bags of trash issued as "news" by MSN Money employees, this diatribe ranks as one of the stupidist pieces ever.  While Nutting himself is a goof, he has a supervisor who allowed more trash to circulate as credible journalism.

It is understandable Nutting wouldn't understand arithmetic, Econ 101, legislated sociaism, or legislative manipulation wrought by the tax code and compliance burden; so resorting to character assasination and character embelishment based on political emotion instead of historical reality becomes the basis of your work product.   

 

Dec 6, 2012 10:14AM
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Bill Gates net worth................. $53 Billion

If you took the top 300 wealthiest people in the country, and took EVERY CENT they had, it would not cover the debt!

And they act like raising their tax rate 4 or 5% is going to make the difference!

They need to stop talking about nickels and dimes, 
SHRINK GOVERNMENT, and CUT SPENDING FIRST!
Dec 6, 2012 10:11AM
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Doc333 said:
"What created this mess is the philosophy that took down Rome.  There is no greater danger to a nation than to allow the voters to vote themselves money."

Doc, the one greater danger being a Nation allowing Government to grow itself at will, and vote themselves money!
Dec 6, 2012 10:05AM
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All of our POLITICIAN"S are to blame for this mess. We cannot blame the voters, what choices did we have? Money controlled all of the elections, a person that could help this country was run over by the money machine to keep the BUM'S that are now in office keep there jobs. We don't hear anything about the POLITICIAN'S cutting there pay or benefits to help reduce the deficit, they want to raise taxes and cut MEDICARE and Social Security, something that the working stiffs have paid into all of there working lives. This country has gotten to be disgraceful, Politician's are only concerned about themselves and keep there life style the same. How do we get change when most of the POLITICIAN'S are MILLIONAIRES.

Why do we continue to support other countries when we can't afford to support our own?

Dec 6, 2012 10:04AM
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The problem with this list is that it needs to be longer, Barney  Frank, Chris Dodd & Ronald Reagon need to be on here.

Yes Reagon talked about cutting spending but he increased it dramatically.  If you look at a chart of the debt it spikes again during his 2 terms. 

Dodd and Frank had their hands all over the housing mess.

How about Nancy Pelosi & Harry Ried??????

Mitch M????????

All the top leaders of the last 3 decades should be on here, useless the whole bunch is, useless I say!!!!!

Dec 6, 2012 9:47AM
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You are very incorrect about you Arthur Laffer article.  It has been proven time and again that when you lower tax rates you increase revenue, and vise versa. 
Dec 6, 2012 9:45AM
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The is NO WAY that by increasing taxes on the rich, Obama can reign in the debt without serious spending cuts. Entitlement mentality: They always want what YOU have to solve THEIR problems.

Dec 6, 2012 9:35AM
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cutting rates did increase revenue. It is easy to look at with cap gains. In the last 30+ years we have had 4 changes to cap gains, 3 down and one up. All 3 times the rates were cut in 1981, 1997 and 2001(2003) revenue went UP. The one time rates were increased in 1987, from 20 to 28%, rates were lower for the next decade than 1986 revenue. Whoever did this article has NO CLUE.

 

Deficits have very little to do with taxes and mostly everything to do with spending. Look up revenue as a percentage of GDP since 1950 and its going to average around 18% no matter what the rate. The reason we had surplus in the late 90's was that was the lowest spending/GDP we have had since the 70's. Today we are spending 24% of GDP and no tax change up or down can cover that.

Dec 6, 2012 9:25AM
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who ever did this article does not know what they are talking about this is why the american people dont know anything people listen to these stupid people who dont know what they are talking about

Dec 6, 2012 9:24AM
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Unfortunately Washington doesn’t get it either, but most of Washington is run by political dynasties exacerbated by both political parties buying votes and taking care of family dynasties, and family businesses, rather than providing the leadership and stewardship needed to ensure the survival and growth of our nation. Tax the rich, great propaganda line. If the President gets his tax hike on those making over 250,000 a year it will run the country for 8 days at the current rate of spending. What are we suppose to do for the 357 day that remain. We need to figure out how to get the big business to bring back our jobs. They already have the tax code rigged they are laughing at us and both parties work for them.   

Dec 6, 2012 9:03AM
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We have an arrogant president who wants a blank check to get us into more debt.  He bought votes from the moochers of this country and is mortgaging all our kid's future. 
Dec 6, 2012 8:47AM
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Wanting low taxes is greedy?  What a stupid statement!  Wanting to keep what you earn is NOT  being greedy! On the other hand, confiscating wealth you didn't earn is the epitome of greed.
Dec 6, 2012 8:43AM
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Wasted 5 min on this article. What a joke.
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