The Fiscal Cliff, In Three And A Half Graphics

[Animorph]

A low interest mortgage is nice during high inflation.

[StuartR]

Quote:

Originally Posted by MichaelB Make sure to leave room for some ammo and canned provisions. Tin foil for the select few.

I actually do have a access to a pretty large stash of tin foil.

[copyright1997reloaded]

Quote:

Originally Posted by Animorph A low interest mortgage is nice during high inflation.

Yep, forgot to add that one. Borrow as much as you can, long term. I've had my house paid off since just around FIRE time. I've found myself lately looking at farm and timber property which u would try to finance at fixed rates.

[frayne]

If the Mayans got the calender thingy right, the fiscal cliff should be a non issue.

[deserat]

My husband I still work, albeit part-time, however, we pay the whole boat of taxes (self-employed, we pay the full amount). It pains me to write the checks each quarter. Then with the Fed QE 1,2,3 he!!! infinity, any cash I have anywhere loses money due to the crappy interest rates and inflation (yes, inflation - look at gas and the price of food - and house prices are going up here as well as other energy prices - oh, and after looking at my electric bill, I realized it's merely a vehicle for my local governments (city, county and state) to assess all kinds of fees - ahh, yes, and those go up constantly). I already pay close to 50% of all income in taxes - with the upcoming 'cliff', it may hit 60-70% - I might as well move to France!!!! or back to Europe...at least in Germany the roads were good, the public infrastructure worked and they weren't constantly asking to float public bonds for stuff they should be doing with the taxes in the first place.

Ohh - and I don't live in CA anymore.....so, say what you will, I am paying a lot already and don't appreciate being asked to pay more - I just got back from Greece - we don't want to be like that, so serious cutting of the federal, state, county and city budgets are in order.....I have to cut mine every time they come with their hand out - they should start cutting theirs.

I am also a Reservist and am almost in a schadenfreude way hoping sequestration goes through - people get used to living off the fat of the land....I went through many years in the Reserves (Clinton anyone?) where I got my 50 points a year and that was it.....not due to not wanting anymore points, due to 'that's all there is, so suck it up and be happy with it.' A bit more prioritization might not hurt. Oh, and cut the social programs as well while you are at it - same amount. And stop calling them non-discretionary....if they truly are a right, then get the votes to make it a change to the US Constitution - otherwise, take up with your state, county, city....

It just makes me very angry that people who are responsible with their money are being severely punished right now.......in more ways than one.

Rant off.....

[Donzo]

Quote:

Originally Posted by rescueme But, but I deserve not to have this tax restored ...

Entitled even maybe....

[HFWR]

It's worth noting that there are Fed governors on both sides of the issue, so grain of salt, and all that...

[mickeyd]

Quote:

It pains me to write the checks each quarter.

Try signing up for EFTPS, its' so easy it's almost painless...

[haha]

Quote:

Originally Posted by marko Right! Greece has better weather, better food and knows how to enjoy both regardless of the economy and/or politics. "fiscal cliff, schmishcal cliff! pass the ouzo!" Friends just got back from a month in Greece. Verdict: nobody over there worries too much about the whole thing...party on the beach!

Right! That is why we see them rioting and throwing fire bombs at the riot police. Those playful folks!

Then there is Melina Mercouri- does anyone think a woman's eyes could ever speak more eloquently than hers?

Melina Mercouri - Ta Paidia Tou Piraia (Never On Sunday) - YouTube

Ha

[MichaelB]

Quote:

Originally Posted by mickeyd Try signing up for EFTPS, its' so easy it's almost painless...

It may be easier but I suspect the pain will continue

[easysurfer]

Quote:

Originally Posted by frayne If the Mayans got the calender thingy right, the fiscal cliff should be a non issue.

One down and one to go.

Looks like no end of the world thingy...but we are peeking over that cliff at the moment

[NW-Bound]

Quote:

Originally Posted by marko Right! Greece has better weather, better food and knows how to enjoy both regardless of the economy and/or politics. "fiscal cliff, schmishcal cliff! pass the ouzo!" Friends just got back from a month in Greece. Verdict: nobody over there worries too much about the whole thing...party on the beach!

Well, I dunno about the Greeks living down near the Mediterranean sea, but the ones living up in the mountains are freezing their buns off because they have no heating oil. Mayors ordered schools closed because of fear the schoolchildren would freeze in their classrooms. Misery abound.

See: Greeks Can’t Find Euros to Buy Heating Oil This Winter.

[eytonxav]

Quote:

Originally Posted by Midpack Simpson-Bowles (Bowles-Simpson), still the best place to start IMO http://www.fiscalcommission.gov/site...h12_1_2010.pdf. Every American taxpayer should read it and be prepared to sacrifice responsibly, but few ever will. I quit holding my breath quite a while back. I hope we find the collective will to act before we reach Greece's predicament...

+1, now if we could only disolve congress and start over with more objective reps.

[MichaelB]

Quote:

Originally Posted by DFW_M5 +1, now if we could only disolve congress and start over with more objective reps.

That's know as the Microsoft fix. You know, Ctrl+Alt+Del, reboot, hope for the best.

[easysurfer]

I like to get my morning news watching CBS This Morning (Mon - Sat). Bob Schieffer was guest asked today, and put it best. He said something like "I've said it before, I can't believe that both sides are so stupid to not have an agreement and put the nation in a recession." Well said.

[explanade]

You really think both parties are equally at fault?

[Midpack]

Quote:

Originally Posted by easysurfer I like to get my morning news watching CBS This Morning (Mon - Sat). Bob Schieffer was guest asked today, and put it best. He said something like "I've said it before, I can't believe that both sides are so stupid to not have an agreement and put the nation in a recession." Well said.

I like Bob Schieffer and I hope they do something substantial before 2013, but who knows. Fortunately there is no cliff despite all the hype, it's a slope, nothing actually happens fiscally on Jan 2nd. Unfortunately, markets may overreact, so we may see some volatility while the executive and legislative "chuckleheads" (quoting Rep. Steve LaTourette, R-Ohio) play around. Lots of talk both sides can say they're cutting taxes after they let the Bush tax cuts expire. What a joke...like anyone can't see through the nonsense.

[easysurfer]

Some actually believe going over the cliff is a good thing.

On the other hand, I remember reading listening to on the radio a couple of months back, saying that if there is no agreement, then come 2013 the firing starts. Folks will start getting pink slips as the cliff impacts everyone and businesses aren't gonna hire but instead let folks go.

Will be interesting to see how things play out in the next week and a half.

[youbet]

Quote:

Originally Posted by DFW_M5 +1, now if we could only disolve congress and start over with more objective reps.

I think ya need to tie the executive and judicial branches in there too. The whole lot of politicians seems to be living life apart from the rest of us.

[youbet]

Quote:

Originally Posted by easysurfer Some actually believe going over the cliff is a good thing.

Well, we would be going back to something near the tax and spending levels of the Clinton Administration. If you liked that then, you might like it now?

Agree with midpack that this isn't a cliff so much as a slope. The media, of course, has to stirr it up to appear as though an asteroid will be hitting earth Jan 2nd....... Bless their hearts......

At our house, we've put on our life jackets and have proceded to the life boat deck but doubt that the ship will actually sink. Thank goodness that in these modern times, women have won their rights and no longer have priority if we need to abandon ship.......