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Candidates didn't debate, or even mention, 'fiscal cliff'

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It’s hard to believe that in Wednesday’s presidential debate, most of which focused on the domestic economy, neither candidate even mentioned the “fiscal cliff” the Congressional Budget Office has predicted the country will fall off if the debt ceiling isn’t raised and a slew of tax cuts aren’t renewed before the end of the year. Sure, there was plenty of high-minded talk about deficit spending and tax cuts, but no one addressed this especially timely ...


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comments

wmarincic
October 8, 2012
6:59 a.m.

[ Flag Post ]

If your house is filling up with sewage do you raise the ceiling or pump out the waste?

Fritzdawg
October 8, 2012
4:45 p.m.

[ Flag Post ]

Well you certainly don't increase the flow of the sewage by adding $2.1 TRILLION to the deficit by giving the Pentagon money they didn't even request.

Tax cuts don't reduce the flow either.

wmarincic
October 8, 2012
9:50 p.m.

[ Flag Post ]

Actually tax cuts do because it increases money that taxpayers spend thereby having to hire more people to work retail and that increases the people making the products (hopegfully in the U.S.)and that increases the supply of raw material again (hopefully in the U.S.) and all of that increases the tax base which creates more taxes paid into the system thereby reducing the deficit.

Fritzdawg
October 8, 2012
10:50 p.m.

[ Flag Post ]

The middle class are not the ones who will see any meaningful kind of tax cut, although yes, they are the ones who are more likely to spend, rather than invest it.

For that matter, increase welfare, and unemployment payments.
Those are people who you know are going to spend it as soon as it comes.
Large corporations, and the uber rich? Not so much.

wmarincic
October 9, 2012
7:13 a.m.

[ Flag Post ]

Lets have a meaningful debate for once Fritzdawg. We all know that the rich mostly got that way by saving and reinvesting. They have a lifestyle I will probably never know and they need X ammount of dollars to support that lifestyle and keep the money rolling in. When you raise their taxes you are taking money that they would reinvest and it starts crimping their style because they are going to continue to live that fairy tale life. What do they do? They start cutting jobs to make up for that money, I have seen it first hand many times.

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