by Professor » Tue Nov 20, 2012 8:27 am
Man - I can't wait until we drive this big bus off the cliff. I've already started labeling my fireworks so that I can shoot them off as things transpire:
Roman candles - end of last year’s temporary payroll tax cuts (resulting in a 2% tax increase for workers)
Mortar - the end of certain tax breaks for businesses
Bottle rockets - shifts in the alternative minimum tax that would take a larger bite
Missiles - the end of the tax cuts from 2001-2003
Fountains - the beginning of taxes related to President Obama’s health care law
Spinners - end of the spending cuts agreed upon as part of the debt ceiling deal of 2011 will begin to go into effect
100-shot aerial - cuts to over 1,000 government programs - including the defense budget and Medicare
Sounds like a good start. Now, if we could just add in raising the marginal tax rate to all that, and some more cuts to govt programs, we'd be well on our way to responsible government.