MG:  There's a question of degrees at this point.  With the degree of excess savings out there the growth triggered by tax reductions is likely very small.  So if you want to fix the deficit right now, that's the low hanging fruit.  There's much less collateral damage from taxes than cutting spending at this point.  Both are really optional to handle at this very moment anyway.  All the rating agencies have wanted was a credible long term plan that doesn't intentionally put us back into a recession.

When you address this from a the perspective of building small business, the thing they need more than anything else to grow is cheap interest rates.  Most small business owners don't make a large enough sum of money to be impacted by the tax rate increases because they would need to have over about 300K in profits from their company per principal. Those that are are professional small businesses like accountants, lawyers, financial advisors, or doctors.  Let's be clear, we're not talking about someone running a 5-6 man machine shop, plumber, electrician, small retail store, or just about anything else that comes to mind when we say "small busines."  Those places, the ones that actually provide the most jobs, aren't impacted by this.

All that being said, it doesn't matter how much is done on the revenue or descetionary spending side, if we don't reform Medicare and add a rationing system to require some degree of efficacy and quality of life improvement to the treatments for the government to pay for it, we'll drown in medical debt.

I have thought right along..There would be an "Eleventh Hour" deal, and have been banking on it. 

Also believe there will be "stipulations" or "scapegoat clauses" that will enable both parties to return after the Holiday break and "tweek and fine tune" the so-called agreement.

There's going to be a deal, and it's going to come at the last possible second.  I was really annoyed by that until I heard why.  If negotiations end early and a deal is reached, whoever didn't get everything they wanted looks like they just gave up.  In the environment, if the GOP allows the tax rates to increase without taking it to the edge, their constituency interprets that as them not fighting hard enough.  If there are spending cuts impacting a broad number of people are agreed to before the bitter end, it's interpretted as Obama selling them out.

We're not talking about reasonable people that are willing to accept "This is the consensus we came to, and we jointly feel that this is a fair way to go."  Both sides have rabid elements that will once accept giving up anything if it's right up against the edge of disaster.

I thought there would be a deal this year and am still optimistic.  But, if no deal is struck by 12-31-12, there is another plan in the works that has worked to change politicians minds...the old style demonstration.  I do not mean the kind that everyone does today via email, tweet, twack, etc., the real live in-person demonstration in front of Congress and the White House with thousands of us Middle Class folk, like me, that cannot stand it any longer.

Here's the date:  August 28, 2013

Here's the place:  Washington D.C.

The march:  Middle Class Rights march on Washington

***MARK YOUR CALENDAR***

Not really sure I/we understand "all" ramifications of the "fiscal cliff", but I understand enough..

The term CLIFF bothers me; I have fallen over small hills or ravines...But all I have in my mind, is "Thelma and Louise" and that didn't end well or pretty...

We have several humungous(sp) figures,rates and amounts thrown around...

As an investor and a retiree....I feel something pressing against my back.

I hope the people (all) that make the decisions, feel the same thing...

My biggest concern is that we could default as a Nation again,be downgrade by all..And the WORST,

Go back into a deeper Recession......Losin​g everyhing for another 3-6 years.