The ‘Fiscal Cliff’ That Isn’t

On today’s Up on MSNBC, Chris Hayes said if the debt and deficit were really a major concern in Washington, we would not have a debate framed around a fictional “fiscal cliff.” Hayes said that it is neither fiscal or a cliff. At best it’s a fiscal curb, but even that isn’t correct because on the fiscal side, the “fiscal cliff’ is actually a major dose of austerity.

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Paul Krugman: Neither candidate is offering a realistic tax plan

Running for office, especially president, has become more about the sport of it, more about the person running, and less about the country. Because of this we get fiscally reckless tax policy from both sides of the isle that panders to an ignorant, self-absorbed public. It’s easy to call for tax cuts. It’s weak to call for tax cuts when you know taxes need to be raised. At least on some level President Obama recognizes this with his call to raise taxes on the top 2%. Mitt Romney however, is completely delusional on tax policy. The idea that you can severely cut taxes and make up for it by closing loopholes and growing the economy is ludicrous. It’s what you say to people when you are more concerned with winning a job and less concerned with serving the country.

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Republicans Bank On Ignorance, Especially When It Comes To Taxes

President Obama revealed his tax plan on Monday. It looks a lot like the tax plan he supported as candidate in 2008 and in the first 3+ years of his presidency. Obama wants to extend the “Bush tax cuts” for the middle class while letting the tax cuts for those making over $250,000 expire at the end of this year. Republicans respond with their usual nonsense. They say we can’t raise taxes on the “job creators” in a bad economy. I call this the first deception by Republicans when it comes to taxes. They count on ignorance to advance their agenda. Republicans hope Americans believe that jobs are created by giving tax breaks to millionaires and billionaires. Nevermind that fact that the Bush tax cuts have been in place for over a decade and we have nothing to show for it.

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Federal tax rate hit 30-year low in 2009

Here’s a story that completely contradicts Republican anti-tax gospel. The tax rate paid by Americans to the federal government in 2009 was at a 30-year-low. I thought Obama raised taxes? I thought lower taxes = job growth. Where are the jobs Republicans? Why is the economy not doing better with the tax rate at a 30-year low?

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