President Obama is expected to deliver remarks on preserving middle class tax cuts Wednesday in the face of the approaching "fiscal cliff," but the White House is hoping Americans will chime in, as well, on the micro-blogging service Twitter. You can check it out on Twitter at hash tag #My2K
Conservative Oklahoma GOP Rep. Tom Cole has told GOP colleagues that it's better to make sure that tax cuts for the 98 percent of taxpayers who make less than $200,000 or $250,000 a year are extended than to battle it out with Obama and risk increasing taxes on everyone.
His comments drew a rebuke from Speaker John Boehner, who is standing firm against Obama's demand that tax rates go up on individual income exceeding $200,000 and family income over $250,000.
What about the Republicans that made the pledge for no new taxes. Where will this all end up. Where indeed.
I personally think the very rich should pay more. All of the tax loop holes that allow very rich people to pay very little should be closed.
Trickle down economics has never worked and will never work. I think everyone should pay their fair share based on their income.
What do you think? What do you think will happen?
I absolutely agree 100% with you crazyhorse! Why should the rich get richer and the poorer family sink just a little bit more. Happens in the UK as well. I remember years ago a woman who was so wealthy she had money coming out of her ears actually drawing, what parents got in the UK at that time, family allowance; this was money to help with the upbringing of children, cannot remember how much but let's say £10 per week for each child. It disgusted me! To be honest the rich always manage to get away with it some how so cannot see any changes here in the UK.
Start emailing and calling your Congressional reps and tell them to repudiate Grover Norquist and his ridiculous pledge.
How about a email campaign to tell the Dems to put some spending cuts on the table? I do love the one-sided BS of this site sometimes. Compromise is not "you do this now!!! or else!!!!". It is a give and take. The Dems are very good at taking, they just can't seem to understand the give part.
What a joke... why don't you go sit in a corner and think about what exactly Republicans have done for the average American, in say the last 4 decades... Sure we got a Highway program, and OSHA and the EPA, and also No Child Left Behind, Homeland Security, lets not forget the biggest invasion of our privacy ever with the Patriot Act.... Yes, you Republicans have given us so much to be thankful for.... Talk about BS...
As for the OP question, what do I think will happen with the fiscal cliff? Absolutely nothing... it is just another fear mongering tool to divide this nation even further. After January 1st, and we are all safe from 'falling' there will be another HOT TOPIC issue that will need immediate attention. My guess is there will be a refocus on climate change with the new report that 'just came out' stating that most of the greenhouse gasses that are being released is coming from the polar ice caps where it has been trapped for thousands of years and since the ice caps are melting at an alarming rate, those gasses are being released and if we don't do something before the elections in 2014 we're all going to DIE!!!
Everyone wants to put the blame on Congress for our financial troubles... nobody ever wants to take any responsibility... Well people need to wake up because WE allow them to keep their jobs even when WE know they are the worst Congress in 40 years. They are supposed to REPRESENT our best interests but the grand majority of people think their job is over when the election is over... that is so not right. We need to stay vigilant throughout their term of office and if they do not represent us fairly then we FIRE them.
We need a full tax reform here in the US... I'm all for letting the Bush tax cuts expire but there has to be more equalizing measures. Close down the loopholes, have a fair tax that is applied to everyone at the same rate ( I really don't think its fair that some have to pay at 40% while others only pay at 10%) 20% across the board seems fair. Corporate taxes need to be overhauled as well to make them more competitive with other countries. They also need to put limits on how much corporations can donate to political campaigns. Individuals have a $5000 limit...
Great post and great ideals. Responsibility is the key to it all.
We also need to worry about what is going on here in the USA than in other countries. We have serious problems here in the USA that could end the USA. Our roads and bridges are failing. Many will fail in the next few years. And that is only the tip of the ice berg.
lol so you think it is responsible to ask 10% of the country to pay for 100% of the Federal tax? Because close to 50% do not pay any tax at all. And of that 50% , around 30% receive additional monies back from the Federal government. I'm all for responsibility. I just don't think it is responsible for half the country to be taking a free ride. And this is not those unemployed, it is those working who are filing taxes. The President just came out and said he wants that payroll tax cut on the table. He wants it gone. That will raise taxes significantly for 98% of working Americans. Yep, they are going to help the Middle Class and working poor a bunch aren't they? As for what the Republicans have done...lol....join reality. Congress passes the laws. Period. The President only has the power to veto or sign. The Dems controlled the Congress from January 2007 until January 2011. Then they still held the Senate from 2011 forward. Go look at Government spending versus Congressional make-up over the last 50 years. If you actually do some research you'll find out which Party likes to spend.
I think we should go over the cliff, it is just the Republican Bluff anyway.
I agree. But one day something like this may be the event that causes America to break up like Russia did. America is in a lot worse trouble than people want to believe.
I fear for what the future 5 - 10 - 15 - 20 years may bring to America.
As a Native American and retired U.S. Naval Officer I love my country but I really do fear what may happen to it.
Americans for Tax Reform President Grover Norquist said Wednesday that Republicans need to have “credible” separation from any tax hike as part of a deal to avoid the so-called fiscal cliff — in order to make a case to voters in 2014 and 2016 that their vision is distinct from that of Democrats.The party can’t “have their fingerprints on the murder weapon,” Norquist told POLITICO’s Mike Allen at a Playbook Breakfast
People like Norquist get me. How does he think this can ever work with out compromise of some sort. Maybe it is time for the Republican party to change or I see them losing more and more National elections and they should.
House Speaker John Boehner said Tuesday that he is "not confident at all" that a deal can be reached to avoid the fiscal cliff. Christopher Weyant thinks our situation is the fault of Congress.
Okay those three posts should give everyone food for thought.
I really am interested in this as it makes me wonder what happens if no deal is reached. What will happen and where will it all end up.
If the Republican Congress sticks to their guns I can see them losing their majority in 2014 at the mid term elections.
If we have a strong Hispanic Democratic Presidential Candidate in 2016 it could be a long time before we see another Republican President.
It is like deja vu all over again . What will happen , i will tell you right now . The govt will let all taxes go up . Do you really think all politicians aren't in the same basket? they all want more money . They are just posturing right now but they will not do anything as usual and all of our taxes will go up .
Obama is doing the same thing he did when he was first elected, campaigning , instead of leading and meeting with the people from both parties he is leaving . leaving town to let the subordinates do the dirty work and then blame everybody else for the collapse of the economy. the 51 % who voted for him (mainly the young under 21) are going to see that they made a huge mistake . Get ready , for higher taxes. Obama will do what he usually does which is stall and blame the republicans instead of leading , don't believe this .. watch . ! the blame game has already started. " a house divided against itself cannot stand " politicians want only more money and the blame game and the media to promote it will be what the end of the so called "middle class propaganda that is espoused . Can anyone really give a firm definition of the so called "middle class" , there is no firm definition . ! Nothing will happen on December21, 2012, but doom will come for the taxpayers on January 1st , 2013.
Get Ready America.
Heart felt comments there. And basically how I feel. But I blame both parties. The Republicans and Democrats. They both keep the spin game going so Americans won't ever get onto the important issues that they should.
Roads and Bridges falling down.
1 in 6 Americans hungry.
Marijuana illegal when it could be legal and taxed and pay for a lot of things.
We need term limits in the house and congress.
Americas Schools have serious problems.
Seniors have to choose between paying for meds or food and lodging.
I could go and on but I won't. America needs to wake up.
Didn't we just pass an $800 billion stimulus that had all these supposed "shovel ready" jobs for infrastructure? It didn't happen and it didn't improve our highways and bridges but by all means, let's just do it again.
It would cost more to legalize it than it would really help the economy. Just more DUI cases hitting the court system etc etc etc.
Definitely agree on the term limits for Congress.
You want to fix the schools? Fix the union that makes it virtually impossible to fire bad teachers and hold them to any kind of standard.
Well expect more of the bad for the seniors because the Dems refuse to discuss any kind of reform for Medicare or SS. Both of which are heading for bankruptcy in the next ten years.
I do wonder exactly what the President is still campaigning for though. He is aware he can't run for a third term right? Perhaps he figures to change that if he can get a Dem majority into the Congress next mid-terms.
many great points .....both sides want more money .. spending is out of control from BOTH sides.!!! the politicians don't care about as long as they feather their nests. corrupt politicians , corrupt unions, corruption has brought down many empires as history has shown. We need to focus on the what is best for ALL not your specific needs . " the needs of the many outweigh the needs of the few." it should be called the "financial meltdown" . It will start with the stock market dropping then all hell will break loose , watch for the first sign !..... the rest will happen so fast you won't see it.
It's not going to happen... That corruption you were just speaking of will prevent any calamity from taking away their spoils and they know this. Fear of this presumed 'cliff' will allow the lawmakers to add in all sorts of deceptive devices to keep them in business until the next calamity...
Insults fly as stalled fiscal talks spark familiar disputes
House Speaker John Boehner declared himself disappointed that "no substantive progress" has occurred in two weeks of talks, saying Republicans were waiting for the White House to propose significant spending cuts.
Senate Democratic leader Harry Reid responded to Boehner by telling reporters: "I don't understand his brain."
I can't see the Democrats going along with cutting social programs. Especially now that one in six Americans are hungry.
But and I say but there are going to have to be some very hard changes if America is to be saved. People are going to have to forget being Democrat or Republican and think about being an American first. This is the only thing that is ever going to fix anything.
thats why they will let it happen. they want crisis. after it happens then the masses will be willing to accept any deal that they propose just to have certianty. thats the way we are manipulated. Look it is happening now , look at the news right now, they have drawn their lines in the sand . gridlock and blame is their best weapon . after the meltdown , Americans will want anytype of deal . the ones who will lose will be us for our taxes will go up . Obama doesn't care, he will not have to be re-elected again . if you think this isn't happening right now look at the media propaganda , they are scaring the masses right now...!
cleaner3 your point on with your post. They ( the politicians ) have always used scare tactics to try to control the American people and keep their minds off the real issues. If the average American knew the real truth it would scare the hell out of them.
by Gemini Fox4 years ago
http://www.youtube.com/watch?v=kTxY-oZu … r_embedded
by My Esoteric102 minutes ago
Maybe. The 17th Century term High Crimes and Misdemeanors may not mean what you think it might be after seeing President Clinton impeached, but not convicted. A common interpretation is as follows:The...
by LucidDreams4 years ago
I will first start by mentioning that I am not a democrat nor a republican. I use common sense to determine my vote based on current economy and world affairs. What I have witnessed since the presidential election...
by theirishobserver.6 years ago
Good afternoon,Ten years ago, Congress passed broad income tax cuts. But in a cynical accounting trick designed to mask their long-term impact, they scheduled these cuts to expire next January. Now we are...
by Michele Travis4 years ago
When it comes to politicsOur politicians have made no progress in solving any problems.They have meetings, but nothing comes out of the meetings.Give themselves high salaries, perfect medical care, and wonderful...
by My Esoteric3 months ago
The latest analysis of who benefits most (in terms of percentage change) from Donald Trump's tax plan. It was done by an Obama economic adviser AND agreed to by the conservative Tax Foundation (funded by...
Copyright © 2017 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.