Thursday, November 29, 2012

Fiscal cliff--who's fault if we go over?

The President is on the campaign trail yet again beating the drums for a job-killing tax increase on the wealthy while warning of dire consequences if we go over the cliff.  But, doesn't the legislation now exist which avoids the cliff?
[A] bipartisan majority in the Republican-held House of Representatives passed a package of measures to solve the fiscal cliff back in August.  The legislation maintained the current tax rates for the middle class (and everyone else);  other Republican efforts aimed at offsetting the devastating defense cuts outlined in sequestration -- which the president's own Secretary of Defense has likened to the US military shooting itself in the head -- also passed.  Democrats will hasten to point out that the Republican bills were not "balanced" with tax increases on the rich. [Link]
So,  it seems,  the Democrats are perfectly willing to hold the middle class hostage so they can extract their pound of flesh from The Rich (you know,  the people also known as 'employers').  The Dems get their tax increase or we go over the cliff;  either way they expect to be able to blame the GOP for any negative consequences.  It's a tough situation for the GOP, the media bias being what it is.