Friday, November 30, 2012
The Physical Cliff Is Media BS!
By Dan Reed, American Citizen
The national media is all gassed up about what happens if congress is incapable of reaching a compromise over increasing tax revenues or cutting “Entitlement Programs”. I say do nothing! The reality is this so called cliff is nothing more than a lot of BS, and hears why:
First – the Bush-43 tax cuts would automatically expire because in 1981 republicans established 12-31-2010 as the date for Bush-43 tax cuts to expire! Obama was foolish to extend them until 12-31-2012!
Second – large defense cuts will automatically kick in, and defense spending will drop to eight times what our combined enemies spend annually!
Third – the combination of increased tax revenues and lower defense spending will finally begin reducing our $16 Trillion National Debt - and that's a good thing!
Fourth – lets be clear, if congress and the president do nothing, there remains 365 days for congress to pass new legislation, and make it retroactive to January 1, 2013. All the hype about middle class taxes going up by $2000 is pure BS! Increasing taxes on the middle class is political suicide for both parties!