A Very Simple Plan To Avoid the Fiscal "Cliff"

[RINGLEADER]

The Ringleader 3-Point Plan:

1. Give Obama the tax increases for wealthy individuals spread out across 8-years (going up .9% every two years until it reaches the full 3.6%).

2. Enact meaningful spending reforms that takes effect immediately and serves as a trigger for each tax increase above.

3. Enact meaningful tax reform with small business taxes reduced across the board and a benchmark to define what qualifies as a small business. For too long Democrats AND Republicans have been too unwilling to carve out this definition.

Politically, it gives the GOP some cover (it's less than a 1% increase, requires reform, requires spending cuts) while giving Obama what he promised. And fiscally it could actually bring capital to the market from those who are actually employing people and not hiding behind the 'S' Corp designation. It wouldn't be perfect and some people would try to skirt it, but it would work for most, benefit business growth and provide encourage capital investment, and actually force some real change to entitlements and spending.

Thoughts on how to make it better?

[Dayze]

Originally Posted by CoMoChief

how about we just get rid of the income tax?

I'd like to watch a documentary on that subject if one is available.
I think it's an interesting topic.

[Direckshun]

Originally Posted by RINGLEADER

The Ringleader 3-Point Plan:

1. Give Obama the tax increases for wealthy individuals spread out across 8-years (going up .9% every two years until it reaches the full 3.6%).

2. Enact meaningful spending reforms that takes effect immediately and serves as a trigger for each tax increase above.

3. Enact meaningful tax reform with small business taxes reduced across the board and a benchmark to define what qualifies as a small business. For too long Democrats AND Republicans have been too unwilling to carve out this definition.

Politically, it gives the GOP some cover (it's less than a 1% increase, requires reform, requires spending cuts) while giving Obama what he promised. And fiscally it could actually bring capital to the market from those who are actually employing people and not hiding behind the 'S' Corp designation. It wouldn't be perfect and some people would try to skirt it, but it would work for most, benefit business growth and provide encourage capital investment, and actually force some real change to entitlements and spending.

Thoughts on how to make it better?

I don't think this is too bad of a plan -- any idea how much this would net us in budget improvements?

[Taco John]

Here's my plan for the fiscal cliff:




I don't see the problem. It took us a long time to get to this grand bargain. Why do we need to "fix" it?

[Stewie]

Bernenke and Geithner hate this kind of plan.

[FishingRod]

Right now we have the Obama Administration offering the grand bargain that the right side of the isle should give him what he wants and then after that they can negotiate on some of what they want. Obviously that is not how it is being spun but, that pretty much sums it up.

The Right can’t give in and avoid a mob with pitchforks, which the left of course knows perfectly well. This allows all of the left to blame the impending tax increases and spending cuts on the Republicans. On the other hand it also allows both the Democrats and republicans to honestly ( by political standards) to give a portion of those rates back and expect the public to be thankful because, after all they voted to lower your taxes. Probably (if figured with the slimy skills they posses) the largest tax cut in the history of the United states.

[Calcountry]

Originally Posted by BucEyedPea

I'll take the "fiscal cliff" with the automatic across the board spending cuts and tax increases.

Tax increases...on everyone. If everyone has to pay—>true reform.

It only cuts military to 2006 levels which by the sound of the politicians is draconian?

This "fiscal cliff" mantra is all about save the govt and the bureaucrats. I say FREE the people from both of 'em!

Time to start is NOW!

agreed. Time to rise above politics. It is time to jump, together.