There is very little in the news about it, so is the fiscal cliff a big deal?
Yes
No
Is the fiscal cliff a big deal?
Moderator: Aitrus
Re: Is the fiscal cliff a big deal?
It will be for a couple of days.
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HookemDann
- Posts: 21
- Joined: Thu Apr 12, 2012 11:55 am
Re: Is the fiscal cliff a big deal?
I believe that giving 42 cents of every dollar to debt, not paying down the debt, just the interest will soon kill our economy. You can only inflate your way out to a point. Soon it will be too late to take relatively simple measures to get our fiscal house in order, and austerity will hurt bad. Time to cut EVERYTHING by 10% and get back to a balanced budget!! Just my 42 cents worth!!
Re: Is the fiscal cliff a big deal?
Dann: I couldn't agree with you more.
And to further the process of restoring fiscal order, one must restore the middle class!
IMHO, for the economy to improve, you must have an environment where business has customers with disposable income sufficient to buy the widgets or services available, or the wealthy's business will not grow and they will just hoard money on their balance sheets.
The wealthy's spending power is insufficient to raise their own business's customer base.
Greed kills the golden goose to the detriment of the goose herder. The middle class is the golden goose and this includes those in the lower class with rehabilitative disabilities [educational, mental, physical, emotional] who are trying to get into the middle class. You can reduce the goose's golden egg laying production by cutting off the head by increasing taxes on those with marginal income, but by also starving the goose with inadequate nutrition such as making education or healthcare unattainable.
Regardless of which party is elected, they must maintain and increase the flock, or the wealthy will just have empty barns and end up living off their saving until their wealth is gone. The wealthy must sacrifice now for the betterment of their future wealth, such as investing now in their flock. One example: do we need 200% more defense spending or can we get reasonable defense at only 70% current levels. Do we need to be the policeman for the world just for pride's sake? Do we need wars which are paid with debt?
This is what the British did in their colonies and the Empire fell.
And to further the process of restoring fiscal order, one must restore the middle class!
IMHO, for the economy to improve, you must have an environment where business has customers with disposable income sufficient to buy the widgets or services available, or the wealthy's business will not grow and they will just hoard money on their balance sheets.
The wealthy's spending power is insufficient to raise their own business's customer base.
Greed kills the golden goose to the detriment of the goose herder. The middle class is the golden goose and this includes those in the lower class with rehabilitative disabilities [educational, mental, physical, emotional] who are trying to get into the middle class. You can reduce the goose's golden egg laying production by cutting off the head by increasing taxes on those with marginal income, but by also starving the goose with inadequate nutrition such as making education or healthcare unattainable.
Regardless of which party is elected, they must maintain and increase the flock, or the wealthy will just have empty barns and end up living off their saving until their wealth is gone. The wealthy must sacrifice now for the betterment of their future wealth, such as investing now in their flock. One example: do we need 200% more defense spending or can we get reasonable defense at only 70% current levels. Do we need to be the policeman for the world just for pride's sake? Do we need wars which are paid with debt?
This is what the British did in their colonies and the Empire fell.
Seek Wisdom where it can be found.
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HookemDann
- Posts: 21
- Joined: Thu Apr 12, 2012 11:55 am
Re: Is the fiscal cliff a big deal?
Substantial tax reform is a key to keep corporations like GE honest and pay their taxes. We need to spur growth and all will benefit. the fair tax is a key as EVERYONE has to have skin in the game. If not, the 49% that pay no federal tax could care less about policy. I agree with lifting ALL boats, not just for those who already pay very little for the services they demand. Lower the rate and expand the base. Just my 2 cents!
Re: Is the fiscal cliff a big deal?
See, I'm in the camp that thinks Ben needs to save QEIII for this little debate, because it will creep up on us, and then the markets will freak out. If he does QE III now, what will he do when this hits? QE IV within a matter of months?
Apparently, if the markets are forward looking like people say they are, then this must be a non-event that gets resolved. Or we could be so addicted to QE that all we care about is our next fix...........
As far as the election goes, I don't think about it too much now. I'm just keeping it simple. If one is happy with Obama, then vote for Obama. If one is unhappy with Obama, then vote for Romney...........
Apparently, if the markets are forward looking like people say they are, then this must be a non-event that gets resolved. Or we could be so addicted to QE that all we care about is our next fix...........
As far as the election goes, I don't think about it too much now. I'm just keeping it simple. If one is happy with Obama, then vote for Obama. If one is unhappy with Obama, then vote for Romney...........
Re: Is the fiscal cliff a big deal?
Dann: If the current Republican tax plan is instituted, then it is suggested that Romney may only pay ~1% Federal tax. Will he then have skin in the game?
Seek Wisdom where it can be found.
Re: Is the fiscal cliff a big deal?
The fiscal cliff is a very Big Deal - so big that nobody wants to think or talk about it. I heard this week that Army bases were preparing to layoff/RIF personnel (Public Works, others, etc) in preparation for the Fiscal Cliff. Has anyone else heard of similar situations?
I believe that if the U.S. allows the fiscal cliff cuts to actually happen, that it will drive the U.S. economy into a much deeper recession. Unemployment would climb, while demand for goods and services would decline. The rest of the world economy (Europe, Japan, China) would also be damaged to a lesser degree. Is the U.S. really that stupid?
I believe that if the U.S. allows the fiscal cliff cuts to actually happen, that it will drive the U.S. economy into a much deeper recession. Unemployment would climb, while demand for goods and services would decline. The rest of the world economy (Europe, Japan, China) would also be damaged to a lesser degree. Is the U.S. really that stupid?
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MakeMe$$$$
- Posts: 772
- Joined: Tue Aug 23, 2011 10:12 pm
Re: Is the fiscal cliff a big deal?
Jahbulon wrote:...
As far as the election goes, I don't think about it too much now. I'm just keeping it simple. If one is happy with Obama, then vote for Obama. If one is unhappy with Obama, then vote for Romney...........
OK...really now...who has stolen Jab's sign on, password, keyboard and mouse?
Sorry, couldn't resist.
Don
Rolled over to Fidelity 2/24/18.
Fantasy still playing with Daily Strategy 12767.
Rolled over to Fidelity 2/24/18.
Fantasy still playing with Daily Strategy 12767.
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