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Politics : View from the Center and Left

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To: Steve Lokness who wrote (210301)	12/3/2012 7:55:45 PM
From: JohnM	1 Recommendation Read Replies (2) of 543564

You're too taken with the "cliff" metaphor. If no deal is reached by the end of this month, tax rates go up for everyone. It looks to me right now that Obama has positioned himself as the defender of incomes under $250k and has a bill, passed the Senate, ready to be approved in the House, to do so. Thus, the Reps are only defending the rich. They lose and badly on the politics of that. As for the economic effects of all this, my own guess is that, while the market may go down some, the actual effect on the economy will be gradual. Much time for correction.

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