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Monday, December 31, 2012

Vice President Biden and Senate Minority Leader Mitch McConnell are close to a deal to cancel historic tax hikes for most Americans. But they are still hung up on spending, with Democrats resisting a GOP proposal to delay automatic spending cuts for just three months. President Obama to deliver remarks about the “fiscal cliff” at 1:30 p.m.

31 comments:

  1. Historic tax hikes?

    No, just a return to the Clinton rates. Remember? The Best economy in the last 60 yrs?

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  2. You know those Europeans have to envy us. We have All the fun, don't we? :)

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    2. You're right there. In Europe, much is done behind closed doors in the dead of night in Brussels, or wherever it is, and they wake up in the morning finding things aren't the same. I like our way better.

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  3. Only in America do we turn Congressional Budget/tax negotiations into "playoff, sudden death sports events."

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    2. I think they all ought to just play an old fashioned game of chicken, you know, couple hot rods, loaded up with officials, speeding at one another, see who swerves first.

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  4. My prediction is Congress (esp. the House) votes on this sometime after Midnight. That way, they'll be voting on a Tax "Cut," not a tax "increase."

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    1. Timed to correspond with the dropping of the ball in Times Square.

      Let's see Europe match that!

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    1. .

      There is an additional link you can go to on the calculator that allows you to refine the numbers for your personal situation. Using that link, it appears that I would be paying a few grand more in taxes, something I wouldn't object to if I thought it was going towards solving our long term fiscal problems.

      But it wouldn't. As I pointed out before, neither party is actually interested in lowering the deficit. Both sides would look at the additional revenue as found money, the GOP wanting to spend it on guns while the Dems would want to spend it on butter.

      Being cynical (yet fair) :), I would like to see the tax code become more progressive and tax the rich as the Dems propose but at the same incorporate the GOP mantra of starve the beast.

      In other words, I view the tax code as a zero sum game. If the government is going to waste the money it collects, I would like it to be the other guy's money they waste, not mine.

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    2. Perfect collection of emotions all of which, oddly enough, seem to favor your own financial position, unbelievably.

      it appears that I would be paying a few grand more in taxes, something I wouldn't object to if I thought it was going towards solving our long term fiscal problems.

      But it wouldn't
      .....therefore tax somebody else, like, oh, the rich! Then I don't care if the government wastes the money.

      heh

      Wonderfully expressed escape hatch there.

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    3. In order to avoid the problem of 'waste' Quirk, you can up your charitable givings, then you have control over where it goes.

      I'd like to ask, why should someone who makes a million dollars one year, say a farmer, or a developer, and I am not referring to myself, and not much of anything many other years, and I am referring to myself here, be taxed more than Rufus or Quirk?

      Maybe he/she really earned it, and employed a bunch of folks along the way, and made a product everyone needs. Why should this be punished?

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    5. Maybe no one should be taxed at all, in any way, until they have a net worth of maybe a million. And that is off limits to estate taxes too. That would give an incentive to get out there 'and make your first million', as the saying used to be, and you'd be able to take care of your next generation.

      Our tax code makes zero sense except as a big rip off scheme, and punishes the creation of and continuing of the nuclear and extended family, the destruction of which is at the root of many of our problems.

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    6. .

      Wonderfully expressed escape hatch there.

      Escape hatch? You make it sound like I am trying to hide something. I thought I made it perfectly clear. If you have to soak someone, soak the rich, the same guys who have been cleaning up since 2001, the only guys who have made any money since 2001; but leave poor little Quirk alone. You talk about 'charity'. Every dollar I send to the government is charity. Their priorities are not my priorities. You saw the link I put up on infrastructure. Our roads are going to pot, the bridges are rusting away, in some major water systems we are losing 30-40 of residential water to leaks yet we underfund repairs so that we can build roads in Afghanistan. One example, I could go on indefinitely.


      I'm not looking for an out. How more clearly can I state it? Even a dumb hick like you out to be able to understand that, Bobbo.

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    7. .

      Your post on the million dollar farmer is typical of you. If he's making a million, he probably should be paying more in taxes. If he doesn't make a million the next year, he wouldn't be paying as much. That is the point the GOP fails to see.

      Since at least 2001, the average Joe has seen no real increase in his wages while the rich have made out like bandits. For a simple refresher course go take a look at the charts DDR put up yesterday.

      As Mr. Sutton said when asked why he robs banks, "That's where the money is."

      The rich are taking on an increasing portion of the tax burden because they are taking an increasing amount of the money being made. It's pretty damn simple, you take money from the rich because the rich are the only ones that have any money.

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    8. As for the "chicken/feathers" argument - INCOME AVERAGING

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    9. I used to be able to carry over loses. Did it many times. I don't know if that is still possible.
      ......

      I would like to see the tax code become more progressive and tax the rich.... It's pretty damn simple, you take money from the rich because the rich are the only ones that have any money.

      But of course.


      you ((((take)))) money from the rich because the rich are the only ones that have any money

      What could be simpler? Robin Hood had it figured out.

      You shall not covet your neighbor's house. You shall not covet your neighbor's wife, or his manservant or maidservant, his ox or donkey, or anything that belongs to your neighbor.

      — Exodus 20:17

      Desire leads to coveting, and coveting leads to stealing. For if the owner (of the coveted object) does not wish to sell, even though he is offered a good price and is entreated to accept, the person (who covets the object) will come to steal it, as it is written (Mikha 2:2) [Micah 2:2], 'They covet fields and (then) steal them.' And if the owner approaches him with a view to reclaiming his money or preventing the theft, then he will come to murder. Go and learn from the example of Achav [Ahab] and Navot [Naboth].

      — Maimonides


      Ending in.....murder.

      heh

      Just shoot 'the rich', take their shit, get it over with, and be honest about it!!

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    10. "Then all shall be well in the garden."

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    11. I'm not looking for an out.

      Oh, no, not at all, at all. Just let somebody, anybody, else pay is all. No out at all. ((Take)) the money from 'the rich', which is anybody with more than I, and count me out, is all I'm asking.

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    12. .

      Bobbo, I've probably mentioned it before but you are a nitwit.

      I used to be as nutz as you, believed in the American dream, thought the best tax, if there was a tax, was the flat tax or the 'fair tax'. But that was when I was young and stupid, too busy making a living to do a little reading, you know, in the days before google. Now, I recognize our current system for what it is, crony capitalism, a rigged game.

      Your last post was laughable but still what I would expect from you.

      Using the Bible to defend the crooks at the banks and on wall street, as well as, the politicos in OZ, talk about a joke.

      Hilarious. I could go on for a few more posts talking about the way the average Joe is being screwed by these people, how through the FED and the Treasury be are feeding the profits of the banks while sticking it to the elderly, those on fixed income, how the hedge fund honchos get by paying jackshit in taxes, how the corporations have gotten rich off of productivity increases while gutting their work forces, how the politicos are willing to stick to everyone, rich and poor alike, just to assure they will get elected, how...well I could go on but it likely wouldn't make an impression on you. You are still wandering in the GOP dream. Never having transitioned, you have progressed from young and stupid to old and stupid.

      ...and be honest about it!!

      Are you illiterate? Be honest about it? How much more honest can I be?

      Lord, have you seen any Cheshire cats over there in Bob-world?

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    13. Just what I thought. You do want to shoot the rich.

      The banks? Wall Street? Ash? This is the first I've heard of this. You never mentioned the banks before. This is called moving the goal posts. How can anyone possibly have any concern with the banks?

      ((Take)) the money from 'the rich', which is anybody with more than I

      My words, your thoughts.

      but leave poor little Quirk alone

      Po, po little Quirk. Just leave him alone.

      Losing an argument, you bring in the banks like in an old socialist drinking song.

      Shame, shame.

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    14. .

      Losing an argument?

      What argument? We may be having a failure to communicate but we are not having an argument. I might try to imbue you with a little wisdom occasionally; but I wouldn't argue with you, Bobbo. My dear old mom warned me to never argue with a fool since he will only drag you down to his level and then beat you with experience.

      You quote the Bible almost as much as T. The problem is you don't follow its precepts. Take Corinthians 11 for instance. "When I was a child, I spake as a child, I understood as a child, I thought as a child: but when I became a man, I put away childish things." You have failed to transition, Bob.

      You continue to speak as a child, to understand as a child, and to think as a child. Or a puppy. However, the difference between a puppy and a fool is this--the one is born blind and continues so for nine days only, while the other remains with his eyes shut all his life.

      Open your eyes, Bobbo. There is no fool like an old fool.

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  6. We've been requested by the Venezuelan government to pray for Chavez. Join me in praying that he dies before January 10th, which will make the transition easier, as the legislature has a say in who replaces him. After that date, the bus driver replaces him, so I read.

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  7. NBC: No House vote, today.

    :)

    Suprize, Suprize

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    1. We're over the cliff! Finally!! Don't it feel great!!! Freedom!!!!

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