Fiscal Cliff Deal? A classic case of the Left embiggining Government

by Skip

Update:

  • Current tax rates would be permanently extended for singles making $400,000 or below, and permanently extended for couples making $450,000 or below
  • For singles, capital gains and dividends of $400,000 or below would be permanently taxed at 15 percent; capital gains and dividends above $400,000 would be permanently taxed at 20 percent
  • For couples, capital gains and dividends of $450,000 or below would be permanently taxed at 15 percent; capital gains and dividends above $450,000 would be taxed at 20 percent
  • The Alternative Minimum Tax would be permanently patched
  • Estates over $5 million would be taxed at 40 percent, and that tax rate would be permanently extended

Nothing on spending cuts (like, I’m surprised??)

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Or “Running out the clock always results in running out with somebody else’s wallet.”

The Corner is reporting that the AP is writing that a deal has been struck:

  • We shall punish the hardworking and successful:

would raise the tax rates on family income over $450,000 from 35 percent to 39.6 percent

That is withOUT the new Obamacare tax levies, I would point out.  I also point out that in some high tax States whose rates are also about to go up, the Govt may well be taking over 53% of someone’s income (because, you know, Govt has better needs for your money than you do, as it continues to do and control more and more).  How “fair” or how “moral” is that, when the stop working for themselves and begin working primarily for the Government’s maw?

  • We shall punish the  hardworking and successful and their heirs (even while noting it was supposed to go up to 55%):

estates would be taxed at 40 percent after the first $5 million for an individual and $10 million for a couple

After all, the money that created that estate has already been taxed once or twice already, so why not just take a whole chunk of it at once…especially if that estate consists a business, right?  After all, none of those folks will have jobs if the biz has to be sold to pay for those taxes:

  • We shall continue to redistribute other peoples money:

Unemployment benefits would be extended for one year

Keeping that hammock swinging at a gentle rate for over 99 months.  After all, it can’t be Big Government’s fault, via our policies affecting job creation, that is keeping unemployment high and the percentage of the participating workforce low, right?

  • They that constantly seek to embiggen Govt, Statists and Progressives, win again:

Democrats want to put off the cuts for one year

Of COURSE they do – it’s Obamacare all over again: make sure the taxes go up, revenues up, and spend it on other things

  • They that constantly seek to embiggen Govt, Statists and Progressives, win again:

and offset the so-called sequester with unspecified revenue.

Of COURSE they do – a promise that will never be kept.  Just another way to spend more….and tax more.  Lucy and the football…and Republican never, EVER have learned to merely walk away.

How real is this reporting, and how close is it in being true?  Who knows until one of the political boobs (that created this mess in the first place – and will heartily backslap each other for Doing Something via compromising and proclaim “we have saved the <American People | the Middle Class | the 53% that pay the taxes>.  But where is the political win for the “Republicans that will stand firm on Principle?” that I’ve been hearing about?  I keep looking at this and haven’t a clue; Dem Principles, sure, but Republican ones?  Oh yeah: those hallowed DC words: bipartisanship and compromise

Compromise – every time it’s done, it moves us closer to the edge (even as it kicks the can closer to the Progressive goal).

Compromise – never having to say “Enough!”.

Compromise – And the Republican Party Elites keep wondering why the heck the grassroots are really starting to think “maybe a third party is the way to go, because with results like these, who needs Republican Party that constantly says “Limited Government!” and then aids the Democrats in making a bigger one.

Tell it to my kids and grandkids when the bill comes due…

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