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View Diary: Public ready to blame Republicans if fiscal cliff talks fail (132 comments)

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  •  It is not a cliff at all (0+ / 0-)

    Yes, if all of the automatic tax increases and program cuts went into effect, and then Congress did nothing all year, this would have a major negative impact on the economy. But if everyone's tax rate goes up January 1, and by January 7 Congress passes and the president signs a bill to give the tax cut back for the first $250K in income, retroactive to January 1, there would be no fiscal impact at all, and that way, all the people who signed their soul away to Grover Norquist and promised never ever ever to vote for a tax increase would get to keep their pledge: the tax increase was automatic and then they got to vote for a cut.

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