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In the discussion thread: The “Fiscal Cliff” Hoax [View all]

Response to Time for change (Original post)

Fri Nov 23, 2012, 03:34 AM

25. Not only is the "fiscal cliff" a hoax, the Tea Party solution would create an economic disaster.

The Federal deficit is not the problem. The problem is a revenue deficit. Cutting taxes for the rich and the corporations will exacerbate the revenue deficit.

Cutting spending will NOT reduce the deficit. In fact, cutting spending will increase the deficit because jobs will be lost reducing tax revenue still further.

All economies are demand driven. Reducing money for the middle class, the working poor, and those who depend on the social safety nets such as Social Security, Medicare, and Medicaid, whose spending helps drive the economy, will further shrink the economy and increase the deficit. At the same time, the wealthy are just "money hoarders" extracting wealth from the economy, just as leeches suck blood from their victims.

The major problem with the U.S. economy is not the Federal deficit, but the trade deficit. Bring jobs that have been offshored back to the U.S. (by rewriting the tax code and renegotiating trade agreements to reduce the unfair competitive advantage given to outsourcers) and many of our economic problems will be corrected.

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Arrow 62 replies Author Time Post
Time for change Nov 2012 OP
msongs Nov 2012 #1
Time for change Nov 2012 #14
grahamhgreen Nov 2012 #60
Fantastic Anarchist Nov 2012 #48
riderinthestorm Nov 2012 #2
Time for change Nov 2012 #3
rtassi Nov 2012 #4
Time for change Nov 2012 #9
Fire Walk With Me Nov 2012 #5
Scuba Nov 2012 #6
chervilant Nov 2012 #18
rudycantfail Nov 2012 #45
Morganfleeman Nov 2012 #7
Time for change Nov 2012 #8
customerserviceguy Nov 2012 #24
John2 Nov 2012 #37
grahamhgreen Nov 2012 #62
myrna minx Nov 2012 #10
99Forever Nov 2012 #11
Fantastic Anarchist Nov 2012 #42
DirkGently Nov 2012 #12
hexola Nov 2012 #13
Faryn Balyncd Nov 2012 #15
Overseas Nov 2012 #16
Time for change Nov 2012 #30
Overseas Nov 2012 #38
Fantastic Anarchist Nov 2012 #43
RC Nov 2012 #54
BlancheSplanchnik Nov 2012 #17
Time for change Nov 2012 #19
BlancheSplanchnik Nov 2012 #34
Time for change Nov 2012 #39
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Ghost Dog Nov 2012 #46
Poiuyt Nov 2012 #20
nightscanner59 Nov 2012 #21
mckara Nov 2012 #22
Faryn Balyncd Nov 2012 #23
LineReply Not only is the "fiscal cliff" a hoax, the Tea Party solution would create an economic disaster.
AdHocSolver Nov 2012 #25
Time for change Nov 2012 #36
Ghost Dog Nov 2012 #26
underoath Nov 2012 #27
kentuck Nov 2012 #28
AllyCat Nov 2012 #29
chervilant Nov 2012 #33
freshwest Nov 2012 #31
chervilant Nov 2012 #32
John2 Nov 2012 #35
NoMoreWarNow Nov 2012 #41
NoMoreWarNow Nov 2012 #40
Fantastic Anarchist Nov 2012 #44
davidn3600 Nov 2012 #47
sendero Nov 2012 #49
Time for change Nov 2012 #50
RC Nov 2012 #51
socialist_n_TN Nov 2012 #52
Uncle Joe Nov 2012 #53
Doctor_J Nov 2012 #55
judesedit Nov 2012 #56
woo me with science Nov 2012 #57
blackspade Nov 2012 #58
Savannahmann Nov 2012 #59
grahamhgreen Nov 2012 #61
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