I actually have been thinking of something slightly differen
by Roger NC - 12/5/12 6:55 PM
In Reply to: at this point by James Denison
that maybe since there will be no agreement on the taxes, the Republicans publically acknowledge it, and the Democrat acknowledge it.
Since they can't agree on tax changes, make a deal that allows the tax CUTS to expire, but as part of a agreement that also works on less rigid tax cuts.
The biggest threat according to some pundits from the fiscal cliff isn't the tax increase or the spending cuts, but the draconic cuts with mandated equal across the board.
For example, take Toni's biggest fear, the military cuts. I remember a discussion on a Sunday news talk show. Several agreed the military may be able to handle the budget cut amounts without that much distress if the Pentagon was allowed to do it strictly itself, without political interference and without the across the board cuts without adjustment the sequester bill requires.
Maybe they just agree on disagreeing, recognize the tax cuts are going o expire and we all go back to the taxes we paid during the years pre-911, and get on with making a deal that manages cuts on a more rational and gradually introduced basis.
I could easily agree on keeping the rates and reducing deductions, if I thought it would really be done in any meanful fashion. Maybe we should just do away with all deductions but a per dependent allowance and medical cost in excess of a defined percentage of income. That does away with loss deductions too in exchange for keeping the lower rate on capital gains. Nothing carried over, etc.
Or do away with all deductions, no exceptions, of course that mean bankruptcy for almost every major illness for the less than wealthy. So so we do away with bankrupcty now too? no one gets relief, if things go wrong, you're ruined for the rest of your life. That means someone is responsible for corporations losses too, no bankruptcy and ignoring debt for bad business decisions, someone would have to pay. Any past dividends or capital gains might be subject to claw back to pay corporation debt. Of course that would ruin all businesses, no one would invest in any speculation.
So is everyone on their own or not? and devil take the hindmost.
Was this reply helpful? (0) (0)