fiscal cliff

[MU B2002]

 Not looking to debate, just would appreciate it if someone could tell me a website to read a balanced breakdown of all it entails.

[Hards Alumni]

http://en.wikipedia.org/wiki/United_States_fiscal_cliff

ta da.

[MU B2002]

Ok.  I had done that, just made the assumption wikipedia wasn't best choice.   

[ChicosBailBonds]

Ok.  I had done that, just made the assumption wikipedia wasn't best choice.  

It's not the best choice.  Hopefully he was being sarcastic.  

[4everwarriors]

Basically in a nutshell, if you're livin' in a dwelling with heat and runnin' water, bend over and grab your ankles.

[ChicosBailBonds]

Basically in a nutshell, if you're livin' in a dwelling with heat and runnin' water, bend over and grab your ankles.

Well, it does take a village.

[21Jumpstreet]

cato.org

mises.org

[ATWizJr]

heritage.org

[Jay Bee]

It's not the best choice.  Hopefully he was being sarcastic.  

Hards wasn't being sarcastic. Dude is nuts when it comes to .. this kind of stuff.

My stock plays have been genius, but trying to figure out when "something" (which won't really amount to crap) gets done is tough... have always thought something will be agreed to in early 2013. How will the illogic market respond? Illogically is my guess.

[Tugg Speedman]

How will the illogic market respond? Illogically is my guess.

That would be consistent.  What would be inconsistent and a surprise is an illoigic market responding logically.

Oh, and for the record, over the cliff and no deal for months, unless the market crashes.   Think of the first mad max movie, will we be looking for gas or the guy tied to the front of the car?

[RideMyBuycks]

Foxnews.com

[akmarq]

cato.org

mises.org

This is not a debate, but these are also ideology driven think-tanks. Go there if you want a free market/neoclassical perspective on things. There are more left leaning think tanks that will give you a very different picture (Tax Policy Alliance is one).

For a more unbiased view, www.cbo.gov

The CBO is the non-partisen budget analysis office of Congress that prepares reports at the behest of members of both parties.

[Jay Bee]

That would be consistent.  What would be inconsistent and a surprise is an illoigic market responding logically.

Oh, and for the record, over the cliff and no deal for months, unless the market crashes.   Think of the first mad max movie, will we be looking for gas or the guy tied to the front of the car?

Definitely a strong possibility (no deal for many months). Hoping the market takes a dump soon (I'm mostly short and holding put options, plus ready to better utilize some of this cash).

[4everwarriors]

Definitely a strong possibility (no deal for many months). Hoping the market takes a dump soon (I'm mostly short and holding put options, plus ready to better utilize some of this cash).

You might be able to cut a sweet deal with Suzy Hamilton.

[Tugg Speedman]

Definitely a strong possibility (no deal for many months). Hoping the market takes a dump soon (I'm mostly short and holding put options, plus ready to better utilize some of this cash).

Jay Bee looks like you're going to get rich today.  Congrats

Should we expect to see you sitting next to Dick Strong tomorrow afternoon swapping stock tips?

[warriorchick]

Here is a fun little interactive designed to show how far you will fall based on your income, filing status, etc.

http://www.slate.com/articles/news_and_politics/map_of_the_week/2012/12/fiscal_cliff_interactive_how_it_will_increase_taxpayers_taxes.html

By the way, I think Fiscal Cliff was the name of my Economics TA at MU.

[Hards Alumni]

It's not the best choice.  Hopefully he was being sarcastic.  

I was not being sarcastic.  I have no idea what sort of knowledge base he had.  That is a basic overview, balanced, and not incorrect.

I was wondering how long it would take some of you to post your think tank websites, and I was not disappointed.  I only wish there was a Vegas line I could have thrown some money down on the under.

[Benny B]

Has anyone else heard that something like 80-90% of those who cast ballots in the last election could not accurately describe the "fiscal cliff"?  I thought I heard this on TV or the radio, but can't find a source.

[GGGG]

Has anyone else heard that something like 80-90% of those who cast ballots in the last election could not accurately describe the "fiscal cliff"?  I thought I heard this on TV or the radio, but can't find a source.

I think there is a large number of people in for a surprise in the next couple weeks when they see the payroll tax bounce back up another 2%.  The other taxes can be dealt with retroactively and the IRS hasn't changed witholding requirements in anticipation that they will be dealt with...but that payroll tax is going to surprise some.

[ChicosBailBonds]

Fiscal Cliff Calculator to see how you are impacted.

http://www.creditcards.com/credit-card-news/fiscal_cliff-calculator-1701.php


Looks like my charitable contributions are going down next year....hate to see that but if the money I donated to charities is now going elsewhere to pay for the biggest charity of them all, there isn't much I can do.  It just doesn't exist any longer.  Unfortunate and I suspect a lot of 501c's aren't too excited about what is coming.

[Canned Goods n Ammo]

I know I'll get blasted for this, but I hope we go over the fiscal cliff.

Higher taxes, less spending and paying down the deficit sounds fine to me. Painful, but necessary.

[Hards Alumni]

I know I'll get blasted for this, but I hope we go over the fiscal cliff.

Higher taxes, less spending and paying down the deficit sounds fine to me. Painful, but necessary.

Nor would I shed any tears.

[ATWizJr]

I know I'll get blasted for this, but I hope we go over the fiscal cliff.

Higher taxes, less spending and paying down the deficit sounds fine to me. Painful, but necessary.

Yeah.  If only they would use the additional revenue to pay down the deficit I'd find it somewhat palatable.

[Canned Goods n Ammo]

Yeah.  If only they would use the additional revenue to pay down the deficit I'd find it somewhat palatable.

Well, there's the rub.

Honestly, if everybody put in an extra $100, that would be about 30billion we could use to pay down the debt.

Fine. Lets do it.

But, somehow Washington would unnatural carnal knowledge that up.

[🏀]

Well, there's the rub.

Honestly, if everybody put in an extra $100, that would be about 30billion we could use to pay down the debt.

Fine. Lets do it.

But, somehow Washington would frack that up.

I'd be all for it, if Washington could show some fiscal responsibility.

At some point individuals need to reinvest back into Civics.