You know, I'm a reasonable guy. I generally go out of my way to understand someone else's point of view. But I don't 'get' the inability here to compromise on tax and spending cuts.
I want the four ----ing souls in this room to hammer out a compromise, ----ING NOW! Am I ----ing CLEAR?
I would have said something along those lines while making continuous eye contact, then kept them standing until they acknowledged. But these days, it just wouldn't be politically correct.
You know, I'm a reasonable guy. I generally go out of my way to understand someone else's point of view. But I don't 'get' the inability here to compromise on tax and spending cuts.
I agree, but we don't need to get re-elected. Too bad.
Extraordinary circumstances demand extraordinary action and STATESMANSHIP. I've been elected officer (of a national breed dog club) and then discovered the organization was not only broke, but substantially in debt ($35K). The officers had to make some tough choices or let the organization go out of business and file BK. We all agreed to forego reimbursement of expenses and to find a way for the 17 committees to produce a 10% profit which as VP was my responsibility. The organization was solvent within a year and when I left 7 years later had a substantial surplus and a perpetual rescue fund organized as a free standing 501C3 that 13 years later is still in operation nationwide. With the U.S.A., going out of business is not an option. Tough choices MUST be made and compromise in this situation is actually not all that difficult. These assholes are just dragging their feet for their crazy ideologues and wealthy masters. If it were me, re-election would not be a consideration. After all, I don't think you get elected to the house or senate if you aren't already well positioned for life. None of these people has to work for a living. In my mind this just makes them look petty, stupid and unworthy of serving or election.
Seems simple to put together a deal, and if it was a business, it would be done long ago.
But politics is a different beast. And people really have no-one to blame but themselves. Instead of voting for centrist, reasoned candidates, they vote for the extremist ones and this is what they get. America is almost getting a European type political system with a bunch of small parties under the umbrella of just 2.
Anytime a small minority can stop business of the majority, then whatever parliamentary procedures they are using are either mistaken or broken.
The minority has the right to voice their views and attempt to sway others, but to have the Tea Party hold up the business of the entire country is beyond dysfunctional.
US Market has gone from being one of the best performing markets of 2012 to one of the poorer ones through the last couple months as this fiscal cliff has unfolded. The US economy has continued to improve, so probably directly due to the political situation, so some substantial upside (10%+) if a real solution is found.
First, let's put the current situation into perspective. Aside from a brief period during the 1990s when tax rates rose a bit, federal income tax rates have been trending lower for decades.
Years Top Ordinary Rate Top Long-Term Capital Gain Rate Top Dividend Rate 1970s 50% 39.9% 70% 1982-1986 50% 20% 50% 1987 38.50% 28% 38.50% 1988-1990 28% 28% 28% 1991-1992 31% 28% 31% 1993-1996 39.60% 28% 39.60% 1997-2001 39.60% 20% 39.60% 2002 38.60% 20% 38.60% 2003-2012 35% 15% 15%
Down about -0.7% today, giving up recent gains.
ReplyDeleteYou know, I'm a reasonable guy. I generally go out of my way to understand someone else's point of view. But I don't 'get' the inability here to compromise on tax and spending cuts.
DeleteI want the four ----ing souls in this room to hammer out a compromise, ----ING NOW! Am I ----ing CLEAR?
DeleteI would have said something along those lines while making continuous eye contact, then kept them standing until they acknowledged. But these days, it just wouldn't be politically correct.
You know, I'm a reasonable guy. I generally go out of my way to understand someone else's point of view. But I don't 'get' the inability here to compromise on tax and spending cuts.
ReplyDeleteI agree, but we don't need to get re-elected. Too bad.
That's why I would have put it the other way.
DeleteSomeone has to convince them they're politically dead if they walk away.
DeleteI hope so bro.
DeleteExtraordinary circumstances demand extraordinary action and STATESMANSHIP.
DeleteI've been elected officer (of a national breed dog club) and then discovered the organization was not only broke, but substantially in debt ($35K). The officers had to make some tough choices or let the organization go out of business and file BK. We all agreed to forego reimbursement of expenses and to find a way for the 17 committees to produce a 10% profit which as VP was my responsibility. The organization was solvent within a year and when I left 7 years later had a substantial surplus and a perpetual rescue fund organized as a free standing 501C3 that 13 years later is still in operation nationwide. With the U.S.A., going out of business is not an option. Tough choices MUST be made and compromise in this situation is actually not all that difficult. These assholes are just dragging their feet for their crazy ideologues and wealthy masters. If it were me, re-election would not be a consideration. After all, I don't think you get elected to the house or senate if you aren't already well positioned for life. None of these people has to work for a living. In my mind this just makes them look petty, stupid and unworthy of serving or election.
Seems simple to put together a deal, and if it was a business, it would be done long ago.
DeleteBut politics is a different beast. And people really have no-one to blame but themselves. Instead of voting for centrist, reasoned candidates, they vote for the extremist ones and this is what they get. America is almost getting a European type political system with a bunch of small parties under the umbrella of just 2.
Anytime a small minority can stop business of the majority, then whatever parliamentary procedures they are using are either mistaken or broken.
DeleteThe minority has the right to voice their views and attempt to sway others, but to have the Tea Party hold up the business of the entire country is beyond dysfunctional.
That's a good summation of the situation here. We need to call in a hostage negotiator.
DeleteObjectivetrader back to being password protected again - anyone else get into it?
ReplyDeleteI can't either and used to have a password when they had a comment board.
DeleteMy revised take. A deal is cut today. Congress adds its approval on Sunday. We rally Monday and Wednesday, and quite possibly through Friday.
ReplyDeleteI agree. Way to many people think we have some sort of sell off and that THEN needs to be bought.
DeleteWe had our selloff.
DeleteWe may even rally without an agreement.
DeleteUS Market has gone from being one of the best performing markets of 2012 to one of the poorer ones through the last couple months as this fiscal cliff has unfolded. The US economy has continued to improve, so probably directly due to the political situation, so some substantial upside (10%+) if a real solution is found.
DeleteThis is pretty cool...
ReplyDeletehttp://www.ritholtz.com/blog/2012/12/week-in-review-122812/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29
Alright, so now I'm looking for them to arrive at an agreement on Sunday.
ReplyDeleteFrom the Schwab website:
ReplyDeleteFirst, let's put the current situation into perspective. Aside from a brief period during the 1990s when tax rates rose a bit, federal income tax rates have been trending lower for decades.
Years Top Ordinary Rate Top Long-Term
Capital Gain Rate Top Dividend Rate
1970s 50% 39.9% 70%
1982-1986 50% 20% 50%
1987 38.50% 28% 38.50%
1988-1990 28% 28% 28%
1991-1992 31% 28% 31%
1993-1996 39.60% 28% 39.60%
1997-2001 39.60% 20% 39.60%
2002 38.60% 20% 38.60%
2003-2012 35% 15% 15%
Futures look scary, Nikkei and Hang Seng look positive.
ReplyDeleteDJIA down 226? They better pull a Bullwinkle. "Watch me pull a rabbit out of my hat". "I Don't know my own strength!".
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ReplyDelete