November 29, 2012

How To Deal With The Fiscal Cliff

I like this idea from PoliPundit.

Give Obama what he wants: Restore tax rates to the Bush era for everyone making under $250,000.

That’s nuts, you say? No, it’s not:

  1. Republicans will avoid the political consequences of defying 60 percent of the American people.

  2. The rich are avid Obama supporters. Republicans should make them pay for that.

  3. And, most importantly, even if passing just the middle class tax cuts averts the fiscal cliff, $1.2 trillion in spending cuts will still kick in. Obama will have no leverage to stop that! That’s good policy and good politics, since, as Keynesians will tell you, in the short term those spending cuts will help deepen the coming recession:

    Non-defense discretionary spending, which includes housing assistance and energy subsidies for low-income people, would drop by 8.2%.

    And non-defense mandatory spending, including the U.S. Forest Service and social services block grants, would be cut 7.6%. Certain low-income programs, such as Medicaid and food stamps, are shielded.

    If these cuts are enacted, it would hurt the economy, experts say. In fiscal 2013 alone, federal spending would fall an estimated $65 billion, according to the Congressional Budget Office. This could shave off two-thirds of the expected economic growth for the year and boost the unemployment rate by as much as 1.5 percentage points, according to Steve Fuller, director of the Center for Regional Analysis at George Mason University.

We need a deep, long recession to cleanse Democrats from office. Giving Obama what he wants is a way to get that recession, while cutting $1.2 trillion in federal spending immediately. He’ll have no one to blame but himself.

Hey – Obama won. He claims a mandate to raise taxes. Let him do it. Put the rates back to the levels during the Clinton years – even if the Dems will not agree to return spending to Clinton era levels (20% of GDP rather than 24%). We’ve already got the sequester cuts coming – leave them in place as the mandated and accept them as the budget-cutting tradeoff that we Republicans have been demanding and Democrats have been promising. And when it all goes to hell in a hand basket, Barack Obama has no one to blame but himself and his fellow Democrats, because we in the GOP just let him do what he promised the American people.

Yeah, i know it sounds unpatriotic to argue that we should simply roll over and allow the country to go to hell economically. But the reality is that we have tried every form of persuasion short of that an no one has listened to us -- much like a parent who must finally allow children to make a major mistake, we just need to stand back and be prepared to pick up the pieces for our shattered nation when the unwise policies of the unworthy occupant of the White House and his socialist friends in Congress fail as they inevitably will.

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