Sunday, August 5, 2012

The Fiscal Cliff Of Eternal Peril!

Go Ahead And Jump Congress!
Thank God they're on vacation, it's pretty much a permanent one for the do-nothing 113th congress. Lets see if their inaction will send us over the fiscal cliff. It stands to reason they will do nothing. They have before, why not again?
Before they left they passed this. I spent way too much time trying to figure out how many jobs were going to be created by this bill. First of all it's about consolidating 6 current individual tax brackets to 2. (of 10% and not higher than 25%) and repeal the corporate income tax rate to not more than 25%. It is currently 35%. How is it that corporations need a tax break? Corporate profits have never been higher. When Republicans are screaming about the deficit, Social Security and Medicare costing waaaay to much money, the answer to that of course, is cutting the tax rate for corporations.
The real interesting part is how  would they fund that tax cut?
By a simpler and fairer tax code of course! Because they think we're stupid and we won't research exactly what they are doing behind our backs. So basically as it stands now,  we have six tax brackets that can go up to a maximum of 35%. So if this Pathway to Job Creation and More tax Cuts for The Rich goes through, they get a tax cut and so do corporations.  So far, Bush's tax cuts were really amazing for job creators. However, not so amazing if you were looking for a job. Every time I hear Boehner say the words "job creators" I think that is code for "rich people who need corporate welfare and less taxes". This bill supposedly is going to streamline taxes. It will also take away deductions for mortgage interest, the earned income credit and the deductions for your kids. That is going to hit the middle class and the working poor very hard. But isn't that the point? This is their answer to the looming "end of the world as we know it" Bush tax cuts, every ones taxes will go up, rich or poor. With this new Unfairness bill, the rich's taxes can't be more than 25%. Now this bill is on the way to the Ways and Means committee, Dave Camp is the Republican incumbent chairman, he is now battling cancer. Thank God he has healthcare, provided by the Government. Check out his website  and scroll down, check out where it says "broken promise", "why Obamacare will force Americans to lose healthcare they have and like." Which is a damn lie, and notice, it's for people WITH healthcare, who cares if you don't have any, but, I digress. My guess is there's a good chance this bill will die in Ways and Means, it's like a graveyard for bills that don't have a chance.The only people this bill will help are the richest 2% of Americans and throws the middle class and poor under the bus. Here's a website I like There's a number you can call to tell your representative off. I do think we need tax reform, since no one  can do their taxes themselves anymore. I wonder if anything will happen before the debt ceiling/fiscal cliff happens, since there don't seem to be any sane people in Washington, they are all like Lemmings, they  should do us all a favor and jump.


  1. Are these anything like the "Cliffs of Insanity" (Princess Bride)? If so, I really do hope they jump, and soon. As for the bill's title, isn't doublespeak a wonderful thing? Orwell himself would be proud of these ... I can't think of a word that would fit these swamp creatures...

  2. I totally forgot the cliffs of insanity! Maybe Diego Montoya could track down Boehner, and ruin his vacation!

  3. Hell no, this isn't like Princess Bride! (which is a great, great movie, by the way)

    This is a reference to Monty Python's Holy Grail, and for the record my favorite color is orange, and the airspeed velocity of an unladen European swallow is 20 KPH. They're much slower carrying coconuts... I checked.

  4. I can see you've done your research Squat.If Romney asked for a shrubbery would he get Bush? Come to think of it, he really is like a Knight that says nee!

  5. You have to know these things when you're King.