As the Cliff Approaches the President and Leadership of Both Parties Fiddle... Really

by: Les Carpenter
Rational Nation USA
Liberty -vs- Tyranny

Perhaps this is a large part of the problem?

The Weekly Standard - Senate majority leader Harry Reid, a Democrat, made his "fiscal cliff" position clear in a press conference today. "We are not going to do anything," said Reid.

Reid added, "We are not taking up anything they are working on over there."

The top Democrat in the Senate was explaining his inaction on the House plan, the proposal put forward by Republican John Boehner, the speaker of the House of Representatives. Boehner's plan is being referred to as 'Plan B.' {Read More}

But as there always is two sides, maybe this is a small part of the problem?

Politico - Speaker John Boehner, using his harshest tone of the fiscal cliff debate, said the White House has “done nothing” since he relented on letting low tax rates lapse on wealthy Americans.

“For weeks the White House said if I moved on rates, that they would make substantial concessions on spending cuts and entitlement reform,” Boehner said in an afternoon news conference. “I did my part, they’ve done nothing.” {Read More}

As I see it NEITHER side is serious about negotiations. What is being bantered about amounts to meager adjustments and cuts over a ten year period. Meager against a 16 plus trillion dollar national dept anyway.

Until BOTH sides get serious about actually doing something of significance, and yes, that means defense cuts, domestic spending cuts, and, here it comes, simplifying the tax code and establishing rates that based on the simplified tax code results in increasing revenue flowing to the treasury.

Taxing the wealthy and business until all incentive to do business is removed makes no sense. Most intelligent people, although not all, understand this. However, getting rid of tax loopholes used by the wealthy actually does make a lot of sense. This combined with a lower rate would increase revenues flowing to the treasury from the wealthy.

Either the two intransigent sides get serious, work out a compromise that is both meaningful and workable, or I say lets all go over the cliff together pointing fingers all the way to the bottom. Because folks, at the end of the day, both political parties will bear responsibility. Not that this fact will ease the pain the nation will experience.

Oh, almost forgot. Kicking the can down the road only passes the inevitable off for another day.

Via: Memeorandum
Via: Memeorandum