Fiscal Cliff deal "within sight", according to Obama

[Dacien]

http://www.cnn.com/2012/12/31/politi...iff/index.html
http://politicalticker.blogs.cnn.com...liff-scramble/

A source familiar with the negotiations said the proposal under discussion would generate $600 billion in revenues by ending the Bush-era tax cuts on individuals with incomes above $400,000 and families over $450,000. Their tax rate would be 39.6%, the same as it was in 2000 during Clinton's presidency. The top income rate is currently 35%.

Interested to get the community's opinion on this issue.

[chrisisvacant]

This is obviously a step in the right direction. Those who benefit the most should not be contributing the least.

[semaphore]

Sounds like some positive news for a change.

[Rukentuts]

I'm not too optimistic. We're talking about the same Congress that shot down Boehner's "Plan B", and Obama has also said he is the eternal optimist.

[Trunksee]

Honestly id rather they.just kept the.cuts.and raised.everyones taxes. Fair is fair we want to keep stuff we all pay more.

[Sunseeker]

I'm not going to hold my breath, and the constant brinkmanship is pissing me off, but I don't think we'll go over the cliff.

[Dacien]

Fair is fair we want to keep stuff we all pay more.

I've heard the argument, "You want European-style government? Then pay for it!"

Problem for me is, I don't want European-style government.

[Tandrius]

If there's no plan for deficit reductions let them go over the cliff. I'm sick of working 4 jobs to support another extension in unemployment and massive entitlements on my generation's dime, and I'm disgusted that this entire thing has been held up by a completely political idea that will do zero for our country: raising taxes on a specific group of people in order to punish them.

I hope the republicans block it and take us over. 6 months of recession is worth getting our fiscal house in order by the cuts that are already worked into the cliff. If we vote to put more on the credit cards it's just a matter of time before we have to pay the piper, and it's going to be much worse.

[Dacien]

If there's no plan for deficit reductions let them go over the cliff. I'm sick of working 4 jobs to support another extension in unemployment and massive entitlements on my generation's dime, and I'm disgusted that this entire thing has been held up by a completely political idea that will do zero for our country: raising taxes on a specific group of people in order to punish them.

I hope the republicans block it and take us over. 6 months of recession is worth getting our fiscal house in order by the cuts that are already worked into the cliff. If we vote to put more on the credit cards it's just a matter of time before we have to pay the piper, and it's going to be much worse.

Mark Steyn had a really good piece a while back about how even if we taxed the top 2% by 100%, that is, we simply took all their money, it would only pay the interest on the debt for about one year, after which of course we'd be back to square one. We have a problem even massive taxation can't fix.

[downnola]

It's amusing to see people like Marco Rubio point the finger at Obama for proposing cuts in Social Security, when the Republican mantra has been to cut entitlement spending. The level of manipulation going on in congress is sickening. I'm amazed that these people even get elected to office.

[Somebodyelse]

It's just another way for the republicans to fuck with Obama...it's that simple...By being dicks with this, the president have to "waste" his christmas vacations in Washington.

There's absolutely no way in hell they're dumb enough to let the shit hit the fan for real...

So to sum this up...It's just a big show and a pissing contest...nothing to see...

[Trunksee]

I've heard the argument, "You want European-style government? Then pay for it!"

Problem for me is, I don't want European-style government.

Sarcasm comes accross bad. Thats my point. But with no cuts whose going to pay for it. We cant run the country the way its going now. We either raise taxes.and become europe or we end entitlements. We cant have it both ways we cant afford it.

[Dacien]

Sarcasm comes accross bad. Thats my point. But with no cuts whose going to pay for it. We cant run the country the way its going now. We either raise taxes.and become europe or we end entitlements. We cant have it both ways we cant afford it.

That's exactly what I've been hearing from conservative commentators.

Except some of them are mentioning that taxes would have to be jacked up 30% - 50% across the board, i.e., the rich, the middle class, and the poor would all need their taxes jacked up. There simply aren't enough rich people.

[Trunksee]

That's exactly what I've been hearing from conservative commentators.

And by the numbers its true, it just doent get you any votes. These people dont care what happens to the country as long as they get reelected. People are becoming blind in this country by career polititians. They cant think for themselves. They dont care about facts all they care about is how am i effected. By the end of this presidential term we have.a chance.to become greece because our elected officials only care that they will be reelected.

[Shâréz]

I do wonder if the babies will finaly man up and stop with their stupid kindergarden bickering.

Because that's pretty much what it seems like to me as an outsider.

[Mortai2]

Ohh! Ohh! In before "Obama is a communist!"

Now that that's out of the way -

I look most forward to (eventually, not necessarily tomorrow) NEVER hearing or reading "Fiscal Cliff" ever again.

[Deadvolcanoes]

This is pretty surprising. I thought we were going down the fiscal slope for sure. I guess Wall Street will be happy.

---------- Post added 2012-12-31 at 03:20 PM ----------

I'm not too optimistic. We're talking about the same Congress that shot down Boehner's "Plan B", and Obama has also said he is the eternal optimist.

Thankfully we don't need all the 2010 tea party representatives to vote for this. There are still some moderate Republicans in the House that don't want to see the country get fucked in the ass over a petty tax raise for the rich.

[Nadev]

It's just another way for the republicans to fuck with Obama...it's that simple...By being dicks with this, the president have to "waste" his christmas vacations in Washington.

There's absolutely no way in hell they're dumb enough to let the shit hit the fan for real...

So to sum this up...It's just a big show and a pissing contest...nothing to see...

God Forbid...

[Dezerte]

Sounds like good news for USA and it's citizens. But then again, I'm a communist scum

[McCulloch]

If there's no plan for deficit reductions let them go over the cliff. I'm sick of working 4 jobs to support another extension in unemployment and massive entitlements on my generation's dime, and I'm disgusted that this entire thing has been held up by a completely political idea that will do zero for our country: raising taxes on a specific group of people in order to punish them.

I hope the republicans block it and take us over. 6 months of recession is worth getting our fiscal house in order by the cuts that are already worked into the cliff. If we vote to put more on the credit cards it's just a matter of time before we have to pay the piper, and it's going to be much worse.

Boehner's has a leash on enough Republicans that if all the Democrats and his group of Republicans vote for it, it will pass.