RWCG


So what are you doing to prepare for the Fiscal Cliff?
December 2, 2012, 10:16 pm
Filed under: Uncategorized

I like the idea that somewhere, out there, is a person as scared of the ‘fiscal cliff’ as some people were of Y2K. He’s got canned food, ammo, a bomb shelter, a generator. The neighbors snicker. “You’ll see”, he says dreamily, a faraway look in his eye. “You’ll see on Jan 1 when we go off the Fiscal Cliff, but by then it will be too late.”

Of course, that person, if he exists, does not live anywhere near Washington DC or have anything to do with the governing, pundit, or academic classes. I know this because, as far as I can tell, none of the people currently ostentatiously fretting about the ‘fiscal cliff’ in this ongoing saga of Fiscal-Cliff Theatre we’re being regaled with – all of whom seem to hail from those classes – are sincere or genuine in their feigned fear of the ‘fiscal cliff’ or the supposedly associated pressing need for the (R)s to accede to a tax-raising ‘deal’ to avoid it.

Of course, I’m willing and happy to be proved wrong. So if somewhere out there you know of a, say, Keynesian econ professor, a Brookings institution scholar, or a Democratic congressional aide who is genuinely scared of the ‘fiscal cliff’ and, like, stockpiling food and sundries in advance, as opposed to just, like, blogging and writing pieces about how awful the ‘fiscal cliff’ would be, do feel free to let me know at itotallybelieveyou@notreally.com.


4 Comments so far
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We just refinanced. By our calculations, the amount of money we saved on our mortgage should cover the payroll and income tax hikes.

Of course I also have some vaseline.

Comment by Mike

I significantly reduce my giving to the corporate charity campaign this year. It’s not that I don’t want to give the same amount (I cut it to 8/23rds of what it was) but I have to watch the cash flow and see what the taxes (and increased health insurance do). I’ve also put the providers of my single largest luxury (my clarinet and flute lessons) on notice that I may drop them completely. My lease was up in December and I signed a shorter term to be able to move later in the year (although that was partially in the plans…where I’m moving may be affected).

So do I expect the world to end? No. Do I expect a serious reduction in my spendable cash? Yes (and I make well below $250K but the 10% bracket and 2% payroll tax reduction going away are more than the music lessons).

Comment by herbn

The only people I feel sorry for are defense contractors (engineers low status techs, etc). On the other hand even they saw the writing on the wall.

Comment by Dave

No, no, no, you don’t understand. The Keynesian econ professors, Brookings institution scholars, and Democratic congressional aides are all completely insulated from the Terrible Fiscal Cliff Thing thanks to the massive DC-bureaucrat-subsidy-multi-plex… Blogging is how they signal how much they care about everybody else who is going to be annihilated by this Thing.

Comment by joshua




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