The President has given a list of outrageous demands to the
Republicans with no concessions on his part, as his play in negotiating the upcoming "fiscal cliff". The
Republicans had already started talking about compromise before the Democrats even thought
about coming to the table. This will end in the age-old pattern: tax
increases with no corresponding budget cuts because the cuts were put
off into the future and the political cowards on Capitol Hill will not allow
them to go through when the piper comes for his
pay.
Today I cashed in my 401(k) account. I am
sure the President would love to convert it -today- to a government account but
the Republicrats still stand in the way. The wishy-washy
Republicans that can't even make up their mind to allow a previously agreed-to
bipartisan compromise to happen, when they are certain to get the blame no
matter WHAT happens.
Well, my capital is flying. Now. Unless
they make a confiscatory law retroactive to today, my money will be mine.
The gains (all the gains) my money made will be lost, but I will preserve the
capital.
The ruling elite in Germany thought they could
control Hitler with the national legislature, and we all (should) know how well
that came out. Maybe I'm wrong. I stand to lose significant
capital gains, but at least I am making an effort to be prudent.
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