PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
sean
 
Comments: 17
Article views: 467
 
 
Latest Badges:



 
View all sean's badges.
 

America's Fiscal Cliff...

22 December 2012, 13:27
The biggest problem facing rich Americans is that they all say they don't have enough money. The biggest problem facing poor Americans is that have way too much-indexed social security to the cost of living.

Obama's tax hikes on income higher than $250,000 a year and the Republicans refusal to implement the $1 Trillion in cuts as part of the Budget Control Act,means over the cliff they'll go. As Governor of the Reserve Bank,Gill Marcus,recently said on Bloomberg News "that America's weight in the world economy will impact the growth in the South African economy and the primary concern must be around how that impacts inflation in South Africa".
 
Republicans have learned diddly squat from the November election and until they get booted out of office,they'll will always be the shameless,selfish militia catering for the rich. Slow learners they not as their kind have been around probably before the time of the dinosaurs.Congressionally created fiscal cliff was designed to cut entitlements. Jobs and growth comes first and foremost and austerity measures for the unnecessary last. The $400 billion that is to be coughed up for Medicaid,Medicare are being paid for by the sick an elderly tax payers I reckon,when the US Military gets told that they'll lose only $100 billion in cuts.
 
Why can't Republicans become real for once when approaching budget negotiations? Do they still think that the American public are as dumb as a brick and that they'll easily swallow any inept nonsense that comes from Congress? They basically offering nothing to Obama and yet they claim that the administration is unwilling take what they have on offer. Obama was willing to compromise,instead the republicans remains unyielding. GOP is the Congressional cancer in American politics and an irony deficient party,trying to swing it both ways.
 
Remove the cap on taxes paying for social security incomes and Medicare. Increase capital gains taxes to 35% and federal taxes of those earning more than a $1million a year to 39%.Cut the military spending to 40% annually and retire 60% of officers in all military branches in America and in American bases across the world. Close all loopholes Wall Street uses to shift earnings into capital gains so they can be taxed as earnings and income. Get rid of all the corporate tax breaks on offer. And let the middle classes pull their weight more and let the poor do some of the heavy lifting themselves in carrying the economic burdens of the US Economy.
 
In summary America, like everyone else,needs to reign in their addictions to wasteful spending. Ultimately increased taxes won't solved anyone ones budget deficits.
 
References:
 
1.CNN News
 
2.Bloombergnews
 
3.ABC News.
Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.

 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
17 comments
Add your comment
Comment 0 characters remaining

Read more from our Users

Submitted by
CraigJoseph
Keep laughing Jacob, keep laughin...

I listened in bewilderment as you addressed parliament on Wednesday. Read more...

13 comments 762 views
Submitted by
Emma Dunk
Isipingo intruder nabbed

A would-be thief got more than he bargained for when he was apprehended in Isipingo. Read more...

1 comments 305 views
Submitted by
Sue van der Linde
Nana – A very brave little boy!

His Mother died in front of his eyes and he was left on the floor of the shack in agony. Read more...

2 comments 176 views
Submitted by
Cris Mhlanga
ANC Elias Motsoaledi Trying their...

They should enroll on a course of understanding the role of government and its opposition parties. Read more...

0 comments 84 views
Submitted by
Peter Currie983
Research laws

We read at different times that someone is to be executed for drug smuggling or receiving long prison times, I have also read about Arab woman being beaten for breaking the law of the country. Read more...

3 comments 184 views
Submitted by
Revelgen
How long before the ANC kills off...

The figures are scary. Over 16 million people on social grants. Zuma builds his palace for R246 million. Read more...

6 comments 796 views
 

services

E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on your iPhone Get News24 headlines on your iPhone.

News24 on Android Get the latest from News24 on your Android device.

SMS Alerts Get breaking news stories via SMS.

Blogs Your opinion on you, me and everyone.

 
Interactive Advertising Bureau
 
© 2015 24.com. All rights reserved.
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.