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Tue Dec 11, 2012, 08:57 AM

Why the Fiscal Cliff Is Causing a Nervous Breakdown on the Right


by Howard Kurtz Dec 11, 2012 4:45 AM EST

From Joe Scarborough to Bill Kristol to Rush Limbaugh, the post-election recriminations are getting heated on the slow march to the fiscal cliff. Howard Kurtz on why the GOP is at war with itself.


It’s no surprise, after losing a second time to Barack Obama, that the right is engaged in a furious debate over the future of the Republican Party. But it’s quickly degenerating into a mudfight.

“Conservatism is a racket for a lot of people to get very, very rich,” declares Joe Scarborough on MSNBC. “With no thought of winning elections.”

“It may be that major parts of American conservatism have become such a racket that a kind of refounding of the movement as a cause is necessary,” says William Kristol, editor of The Weekly Standard.

What’s going on here? Is this simply the venting of prominent media folks who are tired of seeing their side taken to the cleaners? Or have they concluded that the talk-show/fundraising culture that powers the GOP has become more interested in feathering its nest than electing Republicans?

Just two years ago, the GOP captured the House, the Tea Party was ascendant, and the rank and file had every reason to believe that Obama would be a one-termer. Now the reelected president, having vanquished Mitt Romney, is all but dictating terms on averting the fiscal cliff. No wonder the right seems to be undergoing a collective nervous breakdown.

-snip-

more:
http://www.thedailybeast.com/articles/2012/12/11/why-the-fiscal-cliff-is-causing-a-nervous-breakdown-on-the-right.html

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Reply Why the Fiscal Cliff Is Causing a Nervous Breakdown on the Right (Original post)
DonViejo Dec 2012 OP
madrchsod Dec 2012 #1
macwriter Dec 2012 #2
Filibuster Harry Dec 2012 #3
bemildred Dec 2012 #4

Response to DonViejo (Original post)

Tue Dec 11, 2012, 09:16 AM

1. serves them right to suffer.......

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Response to DonViejo (Original post)

Tue Dec 11, 2012, 12:26 PM

2. The Good News for the GOP is...

Obamacare will probably cover this -- unless they're in a red state where governors are trying to slow walk or block exchanges.

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Response to DonViejo (Original post)

Tue Dec 11, 2012, 04:06 PM

3. nervous breakdown is right. Two years ago President Obama wanted his tax increase on the

upper earners to include an increase from 15% to 20% on cap gains and dividends. The Rs did no go for it.
Believing he would not be re-elected. Now he has changed his tune in which he not only wants dividends to be taxed at regular rates but wants carried interest (currently under 15% law) to be taxed also at regular rates.
In addition if no deal is done the upper earners lose some itemized deductions and exemptions. And of course the estate tax which currently is at 35% with a $ 5 million exemption. But with no deal that changes back to 55% with a $ 1 million exemption.
The rich never had it so good. For 10 years they have had their dividends and capital gains taxed at 15% whereas us workers pay regular rates on our pay. In 2010 the Bush tax cuts repealed the estate tax thereby costing the government some money (George Steinbrenner passed away in 2010).

But now they are crying. A dividend rate of 15%, which in my opinion, was one of the worst tax changes ever.
No other president, including Reagan and Bush H.W., even proposed that.

I wish our pay was taxed at a max of 15%. I liked to see how the Rs respond to that one -- leaving cap gains at 20% and dividends at regular rates. I wonder if it would pass and if so, for how many years could they sustain it?

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Response to DonViejo (Original post)

Tue Dec 11, 2012, 04:17 PM

4. It's not that complicated, they just took the TV Preacher business model and applied it to politics.

Naturally after such a debacle, there is a fight over the remaining audience, and the assignment of blame of course.

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