5-Point Guide To The Fiscal ShowdownPosted on the 16 November 2012 by Lowell
The following is the essence of an email sent to me by MoveOn.org, a civic action group, the purpose of which is to inform the confused and uninformed or FAUX News informed as to the "Fiscal Cliff."
"Republicans, led by House Speaker John Boehner, want to scare Americans into accepting yet another extension of the Bush tax cuts for the wealthiest 2% and deep cuts to Social Security, Medicare, and Medicaid. So they've created a 'fiscal cliff' boogeyman.
"Unfortunately, if you're following the media story, you may believe Republican claims that the world's about to end. But the only thing going off a cliff on December 31 is the ability of the Republicans to hold our economy hostage for the sake of the rich ...
"That's why we have to spread the truth, so that our friends and family don't fall for the Republican myth about the fiscal cliff. We've put together a 5-point guide on what this fiscal showdown is really all about."
1. The "Fiscal Cliff" is A Myth. As Paul Krugman put it, "The looming prospect of spending cuts and tax increases isn't a fiscal crisis. It is, instead, a political crisis brought on by the G.O.P.'s attempts to take the economy hostage." Republicans are manufacturing this crisis to pressure Democrats to extend the Bush tax cuts for the wealthy and accept painful cuts to Social Security, Medicare, and Medicaid.
2. The Bush Tax Cuts Finally End December 31. If Congress does nothing, the ax will fall on all the Bush tax cuts on New Year's Eve. Then, on January 1, the public pressure on John Boehner and House Republicans to extend the middle-class tax cuts (already passed by the Senate and waiting to be signed by President Obama) will become irresistible. So the middle-class tax cut will eventually get renewed, and we'll have $823 billion more revenue from the top 2% to do great things with.
3. The Sequester. The sequester is another political creation, forced on Democrats by Republicans in exchange for lifting the debt ceiling last year to avoid crashing our economy. It's a set of cuts (50% to a bloated military budget and 50% to important domestic programs) designed to make both Republicans and Democrats hate it so much that they'd never let it happen. And the cuts can be reversed weeks or months into 2013 without causing damage.
4. The Big Three. Nothing happens to Social Security, Medicare, and Medicaid benefits on January 1--unless Republicans force painful cuts to beneficiaries in exchange for tax increases on the wealthy, which are going to happen anyway if Congress does NOTHING. So, there's literally no reason benefit cuts should be part of the discussion right now.
5. We Should Be Talking About Jobs. The real crisis Americans want Congress to fix is getting people back to work. And with just a fraction of that $823 billion from the wealthiest 2%, we could create jobs for more than 20,000 veterans and pay for the 300,000 teachers and 52,000 first responders, which our communities so desperately need. That's not to mention jobs from investing in clean energy and our national infrastructure.
These articles might interest you :
Tamar Braxton just released a new single titled “My Man”today, an homage to her mother, who divorced her father after he had an affair with another woman. Read moreThe 28 April 2017 by Firstladyb
I tried out the salt vinegar variety of McCoy's Chips a while back, and found them to be pretty lacking. I figured I'd give them another shot when I saw this... Read moreThe 28 April 2017 by Areviewaday
FOOD & DRINK
A little fashion guidance is something we could always use, and why not get it from an expert? Read moreThe 28 April 2017 by Bigcitylittleblog
LIFESTYLE, SELF EXPRESSION
Treehouse Hotel Club SPA “This is my December This is my time of the year This is my December This is all so clear” This song by Linkin Park is exactly how I... Read moreThe 28 April 2017 by Travelrasoi
Happy Valentines day! Today we thought we’d spread the love and go visit @c2cchicago again and make another donation. Cradles to Crayons provides children in... Read moreThe 28 April 2017 by Urbanmatter Chicago
When the big day approaches, many brides and grooms become so overwhelmed with planning and preparations that they lose sleep, [[ This is a content summary only... Read moreThe 28 April 2017 by Demi Mist
FASHION, HAIR & BEAUTY, LIFESTYLE, WEDDING
Is there life-giving magic in fruits and vegetables? Can they transform you – body, mind and spirit? In Medical Medium Life-Changing Foods, Anthony William... Read moreThe 28 April 2017 by Beccachopra
BODY, MIND, SPIRIT, BOOKS, SPIRITUALITY
MOST POPULAR FROM DEBATE
- Friday fun day: again, let us point and laugh at their president by Doggone
- Daily Mail on top form by Markwadsworth
- Strweth Sheila, 'Straya has fake charities too! by Markwadsworth
- Alien Covenant - massive global message - What Is Real analysis by Freeplanet
MOST RECOMMENDED IN DEBATE
- Thursday Schadenfreude: Bill, Sean, and soon Rush go bye bye by Doggone
- “Why are people encouraging me to borrow thousands of dollars to attend an institution in which people like me have a 1-out-of-5 chance of graduating”? by Stevemiranda
- Free Planet - Diversity locations - Diversity languages by Freeplanet
- Another Russian-rigged election, another Kremlin puppet fascist by Doggone