The American People are the Big Losers In The Cliff Deal

The Big Winners:  Big Banks and Big Companies

The “fiscal cliff” deal will raise taxes for 77% of the American public.

It will add $4 trillion dollars to the deficit over the next 10 years.

It will create a drag on the economy equal to 1% of the gross domestic product.

It creates uncertainty in the following areas:

A) the debt limit, B) the sequestered amounts, C) cuts in entitlement spending, D) additional taxes and don’t forget E) the President needs another Continuing Resolution (CR) to keep the lights on.

Blackrock’s Larry Fink is correct when he says:

The American People are the Big Losers In The Cliff Deal.

Who benefits? The deal gives Puerto Rican rum makers, Nascar, banks like Goldman Sachs, and General Electric and other big companies tax subsidies. History repeats again and again.

The entire “fiscal cliff” is a ruse to fleece the peopleOnce again, the government has pimped us out.

This entry was posted in Business / Economics, Politics / World News. Bookmark the permalink.
  • Duke Briscoe

    Isn’t it true that raising taxes for 77% of the public is $4 trillion less tax revenue (over ten years) than raising taxes for all (Bush tax cut expiration) – which are your first two points. You should not complain that both more taxes were raised and less deficit was cut – unless the point is that everybody has some reason to complain.

    My own complaint is that we are not dealing with the unemployment problem by some aggressive public works projects funded by deficit spending. Deal with the deficit in the long run after the unemployment is improved – later we need to raise taxes, cut defense spending, make all federal spending more efficient and useful.

  • Americans are just DUMB selfish WHINNERS! Your nation has been raped and the raids are still continuing.