Greg, John, and Pat discuss the Fiscal Cliff that is coming if there is no resolution. With just over a month away, if there is no agreement between congress and the President, the fiscal cliff comes to nearly 23 million people who are unemployed and will immediately cease to receive unemployment as well as other government funded programs. With the recent health care mandate many will find they will have to participate one way or the other. They also discussed how 3% of Americans employ the other 97% of Americans and how determining tax increases are not as simple or easy as it has been made out to be. If those who earn more are taxed more, you run the risk of making it and even more difficult for those who own business or who have the capital to start a business from moving forward and hiring people to work.
Note: John said Fiscal Cliff was 44 days as this segment it is 35 days.
Courtesy of Marc Scott-Parkin/Shutterstock.com