Dec 28, 2012

From DrHurd; Why the "Fiscal Cliff" is Really a Myth

Lately, we've all heard the "debates" over tax increases here in the US. And while the media is hyping Obama's plan as our one and only means of salvation - and while even Republicans are avoiding the harsh truths of our economic conditions - at least Dr Hurd is still speaking out.

So, I'll share him with you, my dear readers, in the hopes that at least some of you will pull your fingers out of your ears and stop with that silly "LALALALALAAAAA Not LISTENING" bullshit so many of us are doing. Enjoy:
All the talk of a “fiscal cliff” come January 1 is misleading.
It implies that there’s something politicians can do to avert disaster in the new year – and that if they do it, all will be well.
The fact is: All is not well. The reason isn’t the sequestration law with supposed spending cuts and tax increases to take effect.
The reason is that the government is spending and borrowing way, way beyond what the private economy has the ability to produce – even if taxes are raised.
You can debate whether it’s worse to let America “go over the fiscal cliff” or to make some kind of bipartisan deal (stacked in favor of pro-Big Government spending and taxation, as always).
It doesn’t matter. Either way, Americans are left with the reality that its government spends and borrows way beyond its means. Tax increases will not help this. Tax increases on “the rich” will help this least of all. This is because “the rich” are the ones who disproportionately spend and invest in the economy, whether it’s job creation, investment in stocks or private enterprises, or spending on luxuries. The more you take away from those with the most wealth, the less...Read the rest here.

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