This week, former President Bill Clinton urged calm in the face of Washington's stand-off over the so-called fiscal cliff. "They are moving toward a deal," Clinton assured Americans, suggesting that the current posturing by both parties is "just a Kabuki dance."
Unfortunately, Republicans have called President Obama's $4 trillion debt reduction plan something else: a joke. While Senate Minority Leader Mitch McConnell boasted that he "burst into laughter," House Speaker John Boehner claimed he was "flabbergasted" at the president's "non-serious proposal."
As it turns out, that choice of language is more than a little ironic. After all, Boehner's counter-offer isn't merely devoid of specifics when it comes to his proposed spending cuts and revenue-raising loophole closing. Like Mitt Romney before him, Speaker Boehner's math doesn't—and cannot—work. More pathetic still, it is the GOP which is trying to dupe the American people by continuing to peddle its long-debunked myths about taxes and the debt.
Here, then, are 10 things Republicans don't want you to know about the fiscal cliff.
(Click a link to jump to the details for each below):
- The Republicans' "Job Creators" Don't Create Jobs
- Raising Upper-Income Tax Rates Won't Hurt the Economy
- Low Capital Gains Tax Rates Drive Income Inequality, Not Investment
- Income Inequality is at an 80-Year High ...
- ... While the Total Federal Tax Burden is at a 60-Year Low
- Tax Cuts Don't Pay for Themselves
- Closing Tax Loopholes Can't Pay for Lower Rates and Just Hit the Rich
- The Estate Tax Has Virtually No Impact on Family Farms and Businesses
- The National Debt? Republicans Built That
- There Really Isn't a Fiscal Cliff
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