Sunday, July 10, 2011

Debt negotiations stall again, before Saturday night clubbing

Media reports say that the debt negotiations broke down Saturday night (in a “massacre”), but reading between the lines, it sounds like Boehner wants a smaller deal for now, without tax increases, back to what Biden had proposed a month ago. So “they” run around in circles.  (There is no “they”, but there is a “we”.)

Is this getting down to who to sacrifice?

I get the idea that businessmen offer jobs and that taxes hinder jobs.  But if Mark Zuckerberg pays more taxes (he says he thinks he should) or Barack Obama himself pays a little more in taxes, will job growth stop? What if Bill Clinton pays more taxes or George W. Bush does?  What if the Winklevi pay more?  (I presume they make a lot.)  I don’t really think a millionaire’s tax will stop job creation. It didn’t before.

But wealthier seniors who have retired (or who need Medicare services) should get benefits mathematically justified by their contributions. 

The US can’t afford to be late Aug 2 with its credit card debt. Listen to Suze Orman and get the smackdowns. 
July 11:

President Obama will address the nation today on the debt ceiling. He could lay out specific "sacrifices" and they may not be pleasant. But people should be told actual numbers.  CNN has a full story here.

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