Comments: The "Fiscal Cliff": You Got to Know When to Fold

It doesn't make any sense to me why the Democrats would prefer to raise taxes for everyone rather than to push harder on raising the taxes on just the top bracket. It makes even less sense to me that the Republicans are not just giving in at this point if they know if they are going to lose either way. That aside I'm sure the the President and the Democrates have their own economists that do research on this subject and know how much damage raising the taxes for everyone would be, I am also sure that they know that raising the taxes for income would lower the taxes they would recieve from other sources and could possibly lower the total tax revenue. In fact it would make the most sense to lower the personal income taxes for the everyone not in the upper brackets rather than raising it for everyone, or lowering income taxes in general for everyone to possibly raise tax revenue for other tax sources.

Posted by Daniel F. at December 9, 2012 11:16 PM