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Fiscal Cliff Postmortems

By       Message Stephen Lendman     Permalink
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Medicare Part A tax rates rise from 1.45 - 2.35%. Doing so affects individuals earning over $200,000 and families above $250,000. Married couples filing separately and earning over $125,000 pay more.

Medical device manufacturers face a 2.3% excise tax. It'll be priced into products they sell. Buyers will bear the burden. So will consumers in higher medical bills.

Longtime Chicago financial adviser, Terry Savage, reports the "Savage Truth." She wished followers a happy new year. She said "good riddance to a bad Congress."

She called congressional toing and froing a "Mad Hatter's Tea Party." She told CNN viewers their legislation represented an "Alice in Wonderland" moment.

They accomplished nothing. They extended benefits that should have been agreed on months earlier. They left exponentially rising deficits unaddressed. 

Much ado about nothing reflects policy. "Will the next Congress be more sensible," she asked? Don't bet on it. Fiscal discipline are four-letter words. 

Bipartisan irresponsibility assures worse times ahead. Better ones are distant memories.

Stephen Lendman lives in Chicago and can be reached at Email address removed

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His new book is titled "Banker Occupation: Waging Financial War on Humanity."

http://www.claritypress.com/LendmanII.html

Visit his blog site at sjlendman.blogspot.com and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.

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I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

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