IllinoisLoyalty.com Forums > Thread: The Fiscal Cliff

View Single Post
Old Nov 8, 2012, 09:13 AM   #16
hermie1985
Posts: 1,370
Quote:
Originally Posted by Sure Shot View Post
My expectation? A surprisingly large and bipartisan austerity package. With taxes and entitlement cuts.
More taxes without any actions needed. Bush tax cuts set to end. I believe the Death tax goes way up without an action to prevent it. The cruelest redistribution method off all. Taxes paid while you earned it and again when you try to leave it to your own family. A crazy concept. In business the Sec 179 deduction has all but ended. This will hurt industrial manufacturers like Cat, John Deere and basically anyone who supplies capital assets for business. I really look for what is left of the American manufacturing base to shrink at a faster pace than ever. Obamacare costs will kick in. Alot more taxes already on the books.

On the otherhand, no Keystone pipeline, a less stable middle east and no drillling on public lands means higher energy in the future.

Okay, more taxes plus higher energy costs equals less income for everything else. No wonder the stock market took issue with the election results.
hermie1985 is offline Reply With Quote
IllinoisLoyalty.com Forums