The Continuing Saga: America’s Fiscal Cliff Nightmare
O beautiful for heroes proved
In liberating strife.
Who more than self their country loved
And mercy more than life!
May God thy gold refine
Till all success be nobleness
And every gain divine!
“America the Beautiful” is a national treasure as a classic song for our republic. In recorded U.S. History, “America as a Republic” meant our nation was governed by “people” not leadership; however, our supreme power through elections of officials in recent years has resulted in a continuous saga of soap opera proportions.
Perhaps our pablum of reality television starting with MTV’s Real World and now degraded to Hoarders, Really “Unreal” Housewives, Gator Man, West Virginia, etc. has rolled over to our electoral process, because we can’t seem to get it right. United States Congress and Senate and the White House can’t seem to wrestle any matters to final resolution that are placed before them in the current hour.
The Fiscal Cliff is in a long-line of misappropriated working hours Americans have toiled to pay for in representative wages. For some incomprehensible reason, representatives Americans pay to be in public office, seem to only be in office to develop partisan agendas and achieve nothing more than stress induction on a phenomenally devasting level while de-evolutioning the Nation in return for our electoral process.
The Continuing Saga: America’s Fiscal Cliff Nightmare, may result into a greater divide of the rich to un-rich, this is the claim of many Americans. In the future, rather than view individuals with disabilities, infirmities, newly immigrated issues, veteran re-entry, senior care, etc. as taxing the Nation’s social structure – a more generalized taxed vs less taxed may be the actual result if the fiscal cliff nightmare is allowed to permeate throughout 2013 and beyond.
What will be the direct result of non-resolution of the fiscal cliff?
- 88% of Americans will experience an increase in taxes anywhere from $1K to $8.5K.
- Discontinued allowances: dependent care credit, enhanced adoption credit, enhanced child credit, earned-income credit, enhanced student loan interest deduction, exemption for mortgage debt forgiveness, repeal of personal exemption phase-out and repeal of limit on itemized deductions.
- Unemployment benefit repeal.
- Reintroduction of 6.2% for social security (up from the 4.2% in recent years).
- Alternative Minimum Tax goes into effect for the 200K plus wage earners.
- Medicare will be cut by 2%.
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Quote: “Education is learning what you didn’t even know you didn’t know.” ~Daniel J. Boorstin, Democracy and Its Discontents