Paul Craig Roberts asked if the fiscal cliff is real or "just another hoax?" It's "real, but it is a result, not a cause. The hoax is the way (it's) being used."
Doublespeak duplicity claims it's to reduce America's burgeoning deficit and debt. Neither can be addressed responsibly because spending prioritizes militarism, imperial wars, bailing out banks, huge corporate subsidies, and tax cuts for the rich.
It's also because America's industrial base moved offshore. High-paying/good benefit jobs went with it. Low-pay/poor or no benefit temp or part-time ones replaced them in smaller numbers.
Federal revenues declined. Poverty and unemployment rose exponentially. America is on a fast-track for third world status.
Roberts calls it a hoax that resolving the fiscal cliff depends on destroying America's social contract. Republicans never wanted it in the first place.
It took Democrat Obama to help wreck it. Both parties replicate each other. They support wealth, power and privilege. They spurn popular needs. Let-em-eat-cake describes them ideologically.
Capitol Hill compromise assures "double-barreled" austerity. Spending cuts and tax increases are planned. Economists know they erode economic activity. Doublespeak claims otherwise.
America's economy is painfully weak and declining. Hammering it the way both parties plan assures crushing hardships for most people. The worst is yet to come.
It'll hit hard incrementally. Too much, too fast, exposes their dirty game clearly. Smaller doses are more deceptive. They're coming in stages like boiling a frog. It doesn't know it's dinner until served. By then it's too late.
Ordinary Americans are dinner. Political Washington plans the worst of all possible worlds. Prioritizing privilege at the expense of public needs assures conditions unfit to tolerate. They're coming.
Few in Washington represent ordinary people. Most don't care. Roberts sees America eventually crashing "big time." People worldwide will be grateful.
America and Israel threaten humanity. They're "the world's most hated countr(ies)." Celebratory global cheering will follow their collapse. Some day it's coming.
Economist Jack Rasmus appears often on the Progressive Radio New Hour. Fiscal cliff cuts are coming, he explains. Corporate CEOs are on board.
The fix is in. Fiscal cliff plans include major corporate tax cuts. The nominal 35% top rate will be cut to 28%. Most large companies pay much less. Some profitable ones pay little, nothing, or at times get rebates.
Obama also promised major changes in the foreign profits tax. Media scoundrels don't explain. They hype what Obama calls shared sacrifice or pain without discussing who wins and loses.
Rasmus says further tax breaks are coming at a time corporations pay the lowest effective rates in over 25 years. Corporate taxes in the past two years as a percent of profits averaged about 12.4%.