The Motley Fool Discussion Boards
Investment Analysis Clubs / Macro Economic Trends and Risks
|Subject: Re: The Fiscal Cliff-Solving the wrong problem||Date: 11/14/2012 10:24 AM|
|Author: rubberthinking||Number: 408445 of 475845|
If you are going to debate solving the fiscal cliff, wouldn’t you want to worry about the top two items which account for 79% of the cliff? Or would you rather ignore the top two and focus on the rich people tax which accounts for 8% of the cliff?
I am NOT advocating any position about any of the fiscal cliff issues. Keep them, kill them, ignore them and hope the problem goes away are all possible solutions.
In the meantime, Washington might want to spend time solving the biggest problems first. . .
Yoda is NOT holding his breath.
Yoda makes a good point in pointing out that addressing the tax cuts of item 3 (the wealthy) satisfies the majority of the population's fascination with punishing someone else (and especially one who is better off).
Firstly Jeff, this is not a matter of punishing anyone. This is a matter of what is best for the country. The idea of punishment is very subjective. And it is not what the masses are about.
We tax the middle classes elsewhere.....payroll taxes, property taxes, sales taxes.........and yet with this down turn we are seeing fewer and fewer middle class working folks......we have to support work done with further tax cuts......somewhere somehow......
As for the millionaires and billionaires....when will we support them less? Years ago I had a boss with eight pizza places......very good pizza New York style.....very expensive pizza.....he went bankrupt expanding too fast......he was in his early 60s......he could not work off his multimillion dollar debt.......because hard work by one man does not make millions of dollars in a couple of years......only mass marketing makes that sort of money....NOT WORK.......
It is like the basketball player who makes twenty million dollars per year.....marketing is most of the 'effort'.....not the 82 games.....
Then there is the deficit.....WE need economic growth....that is the only way out of this mess......that by definition during this part of the cycle means demand side econ.....
Listen RR was a Keynesian fellow with his deficits....so relax out there.......
We do need to slow the deficit spending....lets do that by growing the economy through further middle class tax cuts.......and leave the poor alone......
This bad economy wont be over for another five years.....Yoda is right not to hold his breath.....
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|