Fiscal cliff: Worst-case scenarios
If Congress and the Obama administration can't come up with a deal to mitigate the effects of spending cuts and tax increases, the pain could be considerable.
VIDEO ON MSN MONEY
MORE ON MSN MONEY
......TAX THE RICH..... TO FEED THE POOR...... TILL THEY ARE....... RICH NO MORE.....
by -- TEN YEARS AFTER.
This line is more relevant than you could imagine. Then when the 'rich' are gone, who will fund your socialist ways ?
If our Congress and Senate consisted of grade school kids for the last 20 years could they have done a worse job?
Income.........paper route, lemonade stand, allowance, mowing the grass........(taxes)
Spending........pop, chips, new shoes, etc.
I actually think they could have done a better job.
Even they know they can't get the new shoes or pop unless they mow more lawns or sell more lemonade. And don't give any money to the bullies(afganistan, syria, egypt).
Final consumption sales tax only - no item or person exempt – When a family goes into a grocery store and buys $100 in groceries and the clerk adds $5 for local tax, $7 for county, $15 for state tax, $35 for federal tax and $45 to pay off the federal debt, the crap will come out of the American peoples head about the cost of government.
Then give the American people the right to directly decide what they are willing to buy through government, (by pass congress). Socialism, liberalism, high government spending will end. In 4 years the American people will reduce government spending by 35% and increase the productivity of our tax dollars by 400%
Our Obama, who art in power, hallowed be thy name. Thy kingdom come, thy will be done, in the USA, as it is in Cuba and the USSR. Give us this day our daily food stamps, and redistribute our wealth as we redistributed the wealth that came before us. Lead us not into prosperity, and deliver us from capitalism, free markets, entrepreneurship, hard work and personal responsibility. For thine is the kingdom of debts and entitlements and deficits and unfunded liabilities, forever and ever. Amen.
It's starting to not pay to be responsible. The American dream is gone. Wages will continue to drop and unemployment increase, along with poverty. Private sector is getting screwed.
I find it ironic that this "fiscal cliff" was and is caused by .....................
1. Senators and Congressmen/women who get paid $170,000 plus
2. These same idiots receive better medical AND pensions than us and WE pay for it.
3. These same idiots work 4 months a year and campaign and vacation the rest.
4. They have FAILED us miserably and are still held in high regard as "leaders"
And with all that they still have a job and will realize NOTHING compared to the people that employ them.
We have employed worthless failures and its our fault, now we have to live with OUR and THEIR bad decisions.
still waiting on the zombie apokolypse
If we do go off the cliff doesn't that solve some problems?
We raise taxes on everyone and not just the people Obama hates.
We get some real spending cuts.
We destroy capital investment and reveal what Obama's policies will do quicker.
Unemployment will soar and so the democrats will have to face that consequence in 2014.
We nullify Obama's power to threaten us with more taxes and take away his byline "paying your fair share".
Obama would not dare to move forward with an immigration amnesty plan with so many unemployed.
I say go over the cliff, the amount my taxes will increase is worth it to see this fool of a president fail.
They are looking at Medicare. Long-term, it is our biggest problem. GOP is talking about age increases; Obama is talking about efficiency. We need them both. The GOP is talking about limiting the (COL) increases for S.S. (hopefully that is about the minimum). With these changes and our current environment, increase the debt ceiling and kick the rest down the road.
it's all been set up by Obama and his cronies so that the so called 'fiscal cliff' won't happen until well after the election. If americans didn't see that then they are dumb. The first dumb thing we did was elect Obama. The 2nd dumb thing we did was to re- elect Obama after we saw how slimely and crooked he really was. And no I didn't vote for him either time. In 2008 I voted republican and then in 2012 after I saw just how slimey the whole political process was I didn't vote.
But held responsible I think not, all of his constituents meaning the wealthy received their bail outs.
And the wealthy still are crying foul YOUR NOT RAISING MY TAXES! So! Who really are the entitled?
It surely is not the working men and women of this country who are just trying to make a living.
And still the wealthy are trying to take away what ever we have left can you say greed!
Look there should be term limits for those law makers in Washington basically for the longest time we have had taxation with out representation .
Can you say Government for sale if you have enough money you to can buy a law maker.
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.