My tax rates are going up in 2013 no matter what. They always were going to. Investment rates are going up to some degree; that also was never in doubt (though the extent of the increase remains unknown). Any substantive addressing of government spending was never going to happen in this situation – that hope died on November 6. I am largely bored by the whole fiscal cliff hype, as no one involved has ever cared if they worked it out before or after December 31 (that was a media date). But putting aside everything tax-related for a moment, let me say this about one piece of the fiscal cliff discussion that is very, very concerning, and that is the extension of unemployment benefits BEYOND 99 weeks for 2.1 million Americans. There is no part of fiscal cliff more degrading to the dignity of humanity than the idea that we would pay people for over 100 weeks to be without work. I do NOT say this merely because I do not want to pay for it; I say this primarily because we are robbing these people of any possibility of them ever having any self-respect or earned success. The best thing we could ever do for these people is put a cap on these benefits. An extension beyond 99 weeks????? Can anyone possibly be serious when they think that is a moral idea?
The Most Degrading Piece of Fiscal Cliff Resolution
December 30, 2012 By