Wednesday, January 2, 2013

Why The Hideous Fiscal Cliff Deal Sucks Big Time; Yogi Berra Was Right: It Ain't Over Till It's Over; The Great Tax Evaders

F%#K Everything, Nation Reports...The Onion

  • Today, we will be hearing a lot of crap about this hideous fiscal cliff deal. The fact is the deal sucks, and most reasonable observers know it. Just ponder the highlights of this hideous piece of garbage: It does nothing to bring down the debt or deficit, nothing. In fact, the Congressional Budget Office reported this bill will add almost $4T to the deficit over the next decade. This means this deal can carry a huge risk of hurting the economy even more. It raises $620B, a dime but only only cuts $15B in spending. In addition, it raises taxes on almost 80% of Americans---and that does not even include the taxes and fees associated with ObamaCare.
  • Other specifics included capital gains taxes going up from 15-20% on those with incomes from $400-450K; the Alternative Minimum Tax was indexed and that would be permanent, tax credits would remain (Child, earned income, etc) and the 27% cut in Medicare is now history for one year.  Spending cuts would be delayed for 2 months.

  • And what about pork in the bill?  Hollywood will be getting some expensing breaks to the tune of $430M (gee, what a surprise. How much did Hollywood donate to Obama's re-election?). Railroads will be getting a nice fat $330M check. Even NASCAR will be getting $70 million. And lest we forget. Algae growers will receive $60 million in tax payer "investments." ABC News
  • What's even more surprising, Paul Krugman of the NY Times did not have nice words to say about Obama (remember, the Progressives wanted taxes on those making $200-250k a year. Instead it hits those making $400 to 450K/yr). He wrote, "He {Obama} kept drawing lines in the sand, then erasing them and retreating to a new position." Yo Paul: this president has never stuck to any position.
  • And keep Yogi Berra's famous quote in mind when you read about our averting the fiscal cliff: it ain't over till it's over. It's not over folks. And it's certainly not over for the Republicans who vowed not to raise taxes but voted for this bill. The day of reckoning will come.

  • Did you know that some of Obama's biggest and richest supporters for raising taxes on most Americans actually evaded taxes themselves? Yes, it's all legal but so very hypocritical. As reported here several weeks ago, Google shifted almost $10B to a Bermuda shell company. The Washington Post, Costco and Facebook all evades taxes and all have been big Obama tax supporters. Michelle Malkin

  • How low has our culture fallen? This low: Kim Kardashian was voted 2012's top newsmaker.