Fiscal Cliff: Yeah, It's Coming

Despite the plans of Representative John Boehner (R-OH), the U.S. is going to go over the fiscal cliff in January 2013. Boehner's plan "A" was stillborn. It was an offer that President Barack Hussein Obama would not sign. Boehner's plan "B" could not garner enough support from fellow Republicans for Boehner to even call it up for a vote. So now the House of Representatives has adjourned for its Christmas recess until after the New Year. I guess that Boehner (and Obama) thought the Christmas adjournment was more important than the country. But that's old news, something that we knew would happen. This article briefly examines the "fiscal cliff" and its attendant tax hikes, why taxing the "wealthy" will never work, why tax increases in general never work, and the psychological damage to the U.S. caused by the fiscal cliff. The Fiscal Cliff: The Tax Policy Center says: "The looming fiscal cliff threatens to boost taxes by more than $500 billion in 2013 when many temporary tax...(Read Full Article)