The US should be very worried about going over the fiscal cliff. If an agreement is not reached soon, then taxes on everyone will be raised and devastating spending cuts will take place. These taxes and spending cuts will push the US back into a recession, something that we are just getting out of.
If a deal is not made by the lawmakers and our childish president, we go off the cliff on Jan,1,13 which means all the public spending and the government defense is going to be cut in half, the taxes are going to be raised for everyone, the inflation will still going up, and if that is not enough Obamacare is going to kick in on 2014, which will be a taxable nightmare for mid-size businesses and large ones. The unemployment rate will go up, because the middle class strongly depends on the rich.
All Americans should be worried about the fiscal cliff, those who say the opposite clearly don't know what they are talking about. If we go into the fiscal cliff and a deal is not made by the lawmaker and our childish president, we go into the cliff on Jan,1,13 which means all the public spending and the government defense is going to cut in half, the taxes are going to raise for everyone, the inflation is still going up, and if that is not enough Obama-care is going to kick in on 2014, which is taxable nightmare for mid size business and large ones. The unemployment rate will go up, because the middle class strongly depends on the rich.
We will be okay either way even if we go over the cliff and back to the Clinton era tax rates but we should be contacting our members of congress and telling them to get to the table with President Obama to get a deal done.
Republicans seem ready to drive middle Americans into the ground just to try and project the top 1% it's going to hurt those that are having a hard time making ends meet.
It is completely pointless to worry about this cliff as if it is the gloom and doom economy killer. The monetary system, especially at the global level it is currently at, is not mathematically possible to maintain. It doesn't matter what happens to the tax rates, the US government, along with other nations across the world, are too far in debt to the World banks to ever recovery. No matter what are done with our taxes, China will still overtake the US in economic strength by the year 2030. So should we be worried about the fiscal cliff? No. Doesn't make a difference once you step outside the bubble you're in.