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Chicken 
USA Fan
Jackassistan
Member since Aug 2003
3529 posts
| What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 5:06 pm)
Why are we pushing off the inevitable? The tax increases and spending cuts do exactly what we need...
quote:
the CBO report added in the next breath, letting the policy changes take effect would actually “make the economy stronger later in the decade and beyond.” The reason: The tax hikes and spending cuts would reduce federal deficits, thus avoiding a dangerous surge in federal debt as a percentage of gross domestic product (GDP).
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LSUAlum2001 
LSU Fan
Tier BP
Member since Aug 2003
24126 posts
| re: What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 5:12 pm to Chicken)
quote:
What is so bad about going over the Fiscal Cliff?
Nothing.
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macatak911
LSU Fan
HT South
Member since Sep 2007
8343 posts
 Online
| re: What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 5:16 pm to Chicken)
I'm subscribed to the Ben stein model: "tax increases, spending decreases"
This accomplishes exactly that.
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Zach
LSU Fan
Member since May 2005
55842 posts
| re: What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 5:17 pm to Chicken)
Double dip recession.
Taxes will increase for everyone except the 47 percent who don't pay taxes, and spending cuts will only be in military, which has already taken a huge cut under Obama.
My tax bill will go up 3K and I'm waaaay below 250K income.
But I have no problem with it. I'd gladly pay 3K to see another recession. Stuff is gonna get really cheap until the govt starts printing money.
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DallasTiger11 
Pittsburgh Fan
Dallas
Member since Mar 2004
1264 posts
| re: What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 5:19 pm to Chicken)
Recession scare is the main worry of most I think. Honestly though, bring on the recession. I am ready for some intense pain now, instead of a dragging dull pain later.
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PigglyWiggly 
Duke Fan
Member since Feb 2010
989 posts
| re: What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 6:53 pm to Chicken)
quote:
“make the economy stronger later in the decade and beyond.”
Politicians can only see as far as their next election.
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udtiger
LSU Fan
Louisiana
Member since Nov 2006
18405 posts
| re: What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 6:59 pm to Chicken)
I've been saying this for weeks.
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llfshoals 
Alabama Fan
Member since Nov 2010
891 posts
| re: What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 7:45 pm to udtiger)
I'm all for it. It's like the difference between jumping off a 20 foot wall, which you can survive, but it'll hurt.
Beats hell out of that 100 foot drop that isn't that far ahead.
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KosmoCramer 
Ohio State Fan
Member since Dec 2007
40090 posts
| re: What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 7:47 pm to Chicken)
The Democrats will blame any short term negative financial news on the Republicans.
It would kill the GOP in the mid-term most likely.
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LSUgusto
LSU Fan
Member since May 2005
15710 posts
| re: What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 7:51 pm to KosmoCramer)
quote:
It would kill the GOP in the mid-term most likely.
Hard to say. I don't think most red states would suddenly back the party of a president who is presiding over a recession whose solution is even more tax hikes.
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LSUgusto
LSU Fan
Member since May 2005
15710 posts
| re: What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 7:54 pm to DallasTiger11)
quote:
Recession scare
I haven't fully recovered from the last one, so why not?
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Zed
Alabama Fan
Member since Feb 2010
5989 posts
| re: What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 7:56 pm to Chicken)
quote:
What is so bad about going over the Fiscal Cliff?
I'd be down with it if it weren't for the potential impact on the recovery. I'm not sure going over the cliff is something the GOP should want. If it really fricked the recovery, it could deny Obama a second term economic turnaround, but I doubt voters would appreciate it in 2014.
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BigJim
LSU Fan
Baton Rouge
Member since Jan 2010
1461 posts
| re: What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 7:56 pm to Zach)
quote:
Double dip recession.
Taxes will increase for everyone except the 47 percent who don't pay taxes, and spending cuts will only be in military, which has already taken a huge cut under Obama.
My tax bill will go up 3K and I'm waaaay below 250K income.
But I have no problem with it. I'd gladly pay 3K to see another recession. Stuff is gonna get really cheap until the govt starts printing money.
This. It will put us in a recession.
PLUS it doesn't address entitlements so you still won't have a long term fiscally stable situation.
It would be bad for everyone, but particularly bad for republicans: increased taxes, defense cuts, little entitlement change.
I am not sure why democrats don't want to go off the cliff.
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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
63859 posts
| re: What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 8:02 pm to Zach)
quote:
Taxes will increase for everyone except the 47 percent who don't pay taxes
The Bush tax cuts removed 17 million taxpayers from having to pay taxes. If those cuts are reversed at least some of those persons will have to pay taxes again. 
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LSUgusto
LSU Fan
Member since May 2005
15710 posts
| re: What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 8:05 pm to BigJim)
quote:
particularly bad for republicans: increased taxes, defense cuts, little entitlement change.
So, it gives Democrats everything they want, and it's bad for Republicans.
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ZTiger87
LSU Fan
Member since Nov 2009
8417 posts
Online
| re: What is so bad about going over the Fiscal Cliff? (Posted on 11/29/12 at 8:08 pm to Chicken)
quote:
The tax increases and spending cuts do exactly what we need...
I'm confident taxes will be raised to an acceptable amount. I am not confident that spending will be cut by an acceptable amount. Hopefully it will be a step in the right direction.
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