9:42AM EST November 26. 2012 - President Obama's economic team is combining Cyber Monday and the Christmas shopping season with a warning about the perils of the so-called fiscal cliff.
A report released Monday details what the White House calls "the impact to retailers and consumer spending if Congress fails to act to avoid taxes going up on 98 percent of Americans at the end of the year."
White House officials and congressional Republicans and Democrats are negotiating a new budget deal to avoid what they call the fiscal cliff, a series of automatic tax hikes and spending cuts that take effect in the absence of an agreement; that includes the expiration of the George W. Bush tax cuts.
Incredible...simply incredible. Not a word in this article about the necessity of government spending cuts (beyond the automatic cuts if nothing is done). Not a word about the fact that there is a "fiscal cliff" because of acts taken by the current administration in the first four years.Obama wants to extend the Bush tax cuts for everyone except Americans who make more than $250,000 a year; the Republicans want to extend all the Bush tax cuts.
All this article is...is the second highest circulated domestic daily trying to put pressure on the Republicans to "tax the rich." No mention that the rich are the employers. No mention that if you tax the "rich" they will make up the difference elsewhere (going overseas with businesses, cutting employees from their payroll, increasing the prices on their products, lowering expectations on research and development, limiting their product diversification etc).
This is propoganda plain and simple. I'm starting to think that the Republicans should just abstain from every vote, and let the current Administration and Democrats do whatever they want. In four years, it will be an absolute mess. Otherwise, there will be a smaller mess, but the Republicans will be blamed come the next election.