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View Diary: What the fiscal cliff means for the middle class (54 comments)

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  •  Preserving tax cuts for the rich. (3+ / 0-)
    Recommended by:
    bluezen, howd, ColoTim

    If we don't do anything to change things then over the next year things would get bad. But the idea of arguing we shouldn't go over the "fiscal cliff" is to scare Democrats into giving in to Republicans on Bush tax cuts for the rich. Once January 1st comes the Bush tax cuts for the rich are gone for good. A bill reinstating them would have to pass the  House and the Senate and be signed by the President. This won't happen. The only way to preserve tax cuts for the rich is to preserve them as a part of a bill to avoid the "fiscal cliff."

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