This statement shows you have no clue as to what exactly this "fiscal cliff" is.

Your video, Robert Reich explains the Fiscal Cliff in 150 seconds, has made it into the Top 15 New Videos listing. Congratulations on your achievement. For your contribution you have been awarded 1 Power Point.

This isn't how to understand the fiscal cliff. This is a guidebook for Democrats. I think he makes some astute political points, but I don't know more about the fiscal cliff than I did 150 seconds ago.

So, in other words, don't compromise with the republicans at all.

While I agree with his ideology, in practice, I don't believe this will work. The republicans will dig in you'll go sailing over the fiscal cliff (which might not be such a bad thing imho).

One question though: we constantly hear about how the military in the USA is huge and how their spending dwarves everyone elses and should be cut. But much and all as this sounds good in principle, aren't there quite a lot of people who are employed by this (directly and indirectly)? I think reducing the military is a laudable goal, but it needs to be done carefully, over time and with something to replace it. Tens of thousands of soldiers and marines are not suddenly going to turn into engineers and scientists.

IF YOU THOUGHT HEALTH CARE WAS EXPENSIVE BEFORE, WAIT UNTIL OBAMARXCARE MAKES IT FREE!


Although some of the "fiscal cliff" taxes can be avoided through a deal made in Congress, new ObamaCare taxes are guaranteed to kick in on January 1, amounting to $268 billion tax hike.

The Obamacare Medical Device Tax – a $20 billion tax increase: Medical device manufacturers employ 409,000 people in 12,000 plants across the country. Obamacare imposes a new 2.3 percent excise tax on gross sales – even if the company does not earn a profit in a given year. In addition to killing small business jobs and impacting research and development budgets, this will increase the cost of your health care – making everything from pacemakers to prosthetics more expensive.

The Obamacare “Special Needs Kids Tax” – a $13 billion tax increase: The 30-35 million Americans who use a Flexible Spending Account (FSA) at work to pay for their family’s basic medical needs will face a new government cap of $2,500 (currently the accounts are unlimited under federal law, though employers are allowed to set a cap).

There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are several million families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education. This Obamacare tax provision will limit the options available to these families.

The Obamacare Surtax on Investment Income – a $123 billion tax increase: This is a new, 3.8 percentage point surtax on investment income earned in households making at least $250,000 ($200,000 single). This would result in the following top tax rates on investment income:


The Obamacare “Haircut” for Medical Itemized Deductions – a $15.2 billion tax increase: Currently, those Americans facing high medical expenses are allowed a deduction to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). This tax increase imposes a threshold of 10 percent of AGI. By limiting this deduction, Obamacare widens the net of taxable income for the sickest Americans. This tax provision will most harm near retirees and those with modest incomes but high medical bills.

The Obamacare Medicare Payroll Tax Hike --an $86.8 billion tax increase: The Medicare payroll tax is currently 2.9 percent on all wages and self-employment profits. Under this tax hike, wages and profits exceeding $200,000 ($250,000 in the case of married couples) will face a 3.8 percent rate instead. This is a direct marginal income tax hike on small business owners, who are liable for self-employment tax in most cases.

Not only does this tax increase costs on companies, it also increases costs on hospitals, doctors and people in need of medical treatment that requires medical devices to be used. As a consequence of this, biomedical or medical device engineering firms are already laying off workers who develop crucial medical products due to the "unforeseen" costs, or in other words, the costs of ObamaCare. Not to mention, the more money these companies pay to the government, the less money they have to invest in research and development.

With this new medical device tax, students who pay large sums of money to get degrees in the field of biomedical engineering, just like doctors, will no longer see the benefits of going into the field and therefore, we will have a shortage of engineers developing new medical device technology. The medical device tax is a death sentence for American medical innovation.

OWN IT, LIBS!

Lv,

QM

>> ^EvilDeathBee:

Maybe America will be alright after all...



lololol

Fiscal cliff, here we come with a smile on our face!