Posts Tagged ‘Taxation in the United States’

Bring. It. On.

Bring. It. On.

So let’s just get this straight.

This apparently disastrous “fiscal cliff” will raise US taxes to a more normal level by worldwide advanced economy standards, slash the bloated US budget and dramatically reduce their deficit, and thus their need to go cap in hand to the Chinese for money all the time.

The whole of the rest of the world is taking a haircut thanks to the chaos a greedy Wall Street foisted on us all by selling houses to people who couldn’t afford them, thanks to ludicrous under-regulation cheerfully supported by most Americans under Carter and Bush. Tell me again why they shouldn’t now share the pain?

Someone tell me again why jumping off the cliff a bad idea? How come Americans aren’t running towards the cliff like a bunch of lemmings on crack cocaine?

At the very least, if it forces them to make some real changes, then this much-chattered-about cloud will have had a very silver lining. Not that this will stop the media from declaring it a disaster, and getting people yet more worried.

But don’t worry, everyone, they’ll cobble together some sort of looking-good doing-little nonsense to put off having to make any really innovative, hard or difficult decisions to deal with their structural economic problems.*

I see I am not alone in this assumption cum criticism of American lawmakers on all sides: http://www.guardian.co.uk/business/2012/dec/30/obama-tax-reform-balance-books

Interestingly, getting along for one in five Americans actually think the cliff dive will have a positive effect for them and the economy, too, as you can see on this chart which I found on http://scinvestlink.wordpress.com/

Washington Post survey shows some Americans aren't too worried.

Washington Post survey shows some Americans aren’t too worried.

OK, so how’s this for innovative thinking? A new $200 levy for each gun in a household set against a new $100 payment for each unwanted gun handed in might be a start: I reckon it’d be revenue positive for the Feds and reduce the current population of guns from it’s current ludicrous level of approximately one per member of the population.

Oh and while we’re about it, can anyone whisper “cut the ludicrously high level of American defence spending” without ending up in Guantanamo Bay, as this excellent article points out.

Bah, humbug. Happy New Year, Dear Reader.

*UPDATE – er, yup. Expect to hear “Kick The Can” a few thousand times in the next couple of days. Happy reading.

YAHOO FINANCE http://au.finance.yahoo.com/news/fiscal-cliff-deal-just-patch-225254454.html

FORBES http://www.forbes.com/sites/beltway/2013/01/01/with-lame-fiscal-cliff-deal-congress-cant-even-kick-the-can-right/

RADIOVICEONLINE (quotes various right wing commentaries) http://radioviceonline.com/over-the-cliff-senate-kicks-the-can-down-the-road/?utm_campaign=twitter&utm_medium=twitter&utm_source=twitter

HUFFINGTON POST BLOW BY BLOW ACCOUNT http://www.huffingtonpost.com/2013/01/01/fiscal-cliff-news_n_2393443.html