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Fiscal Cliff Deal: $41 in tax increases to $1 in spending cuts! | Kudrna's Stock Market Talk
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Fiscal Cliff Deal: $41 in tax increases to $1 in spending cuts! by | This entry was posted on Tuesday, January 1st, 2013 and filed under Economy/Macro/Politics   Comments Off


It appears we (Our Govt and the majority of voters) have not learned anything from history, even if it’s only about 15 years old.  The most recent deal, reviewed by the CBO, has $620 billion in tax hikes (over 10 years) and a whopping $15 billion in cuts!

For those of you who don’t know, had very similar issues to in the 90′s.  In response, cut $7 to $1 in tax increases, balanced their budget AND grew during the dot-com bust when the global was hurting.  Now, they are fiscally responsible and therefore better able to handle whatever the next problem their nation faces (many anticipating a housing bust shortly).  You can review a well-written (not mine) college research paper on the subject written in 2011: 

 

So, instead of learning from this fact, we seemingly do the exact opposite.  This current fiscal cliff deal, if those numbers above are correct, is over $41 in tax increases to $1 in cuts on over a 1.3 yearly trillion .

 

Sickening

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