“….Dennis Gartman publisher of The Gartman Letter wasn’t too happy with the deal. First he criticized it for being overtly anti-marriage, second, he said it failed to tackle the “egregious lack of discipline on spending” and said President Obama was leading the country towards socialism. Finally, he was also critical of the fact that this bill originated in the Senate, whereas he writes, “according to the Constitution all fiscally related legislation must originate in the House”. Here is his take on the fiscal cliff deal:
“We’ve no great disagreement with the legislation as it stands except for the fact that this is an overtly anti- marriage decision and therefore manifestly discriminatory on its face and there is of course a marked lack of spending cuts and as we all know the problem with the US fiscal deficit is not one of revenue but is one of egregious lack of discipline on spending. Regarding the former concern, unmarried up-income couples will have their taxes held at current levels while upper-income married couples with the same incomes will see their taxes raised materially. Even the French Supreme Court has found that wrong.
Regarding the former concern, we point to the chart [see below] regarding welfare spending which has now reached $1 trillion per year and we are not including here spending on Social Security and Medicare. These are simply unemployment benefits, spending on food stamps and other true “welfare” related programs. And to remember, the figures included here are for 2011. 2012 shall obviously have been far higher and 2013 shall be higher still.
We shall not mince words here then: What the House and the Senate have agreed upon… and what the President has said he shall sign… is horrible legislation and were we a Congressman or Senator we’d have voted against it so long as we had “cover” to do so; but the government needed to be funded; taxes need to be raised; armies, navies and air forces need to be secured et al and in the end there was no choice but to vote for the legislation’s passage. The Left has won. The President has succeeded in moving the country along the path toward socialism. Those who have succeeded in life will pay for that success with higher taxes; those who’ve failed will be paid by those who’ve succeeded. Paul will be paid by Peter and Paul’s support has been won … perhaps eternally….”
If you enjoy the content at iBankCoin, please follow us on Twitter
maybe dennis ought to write a letter about how martial law will take place after messiah is inaugurated. along with the importation of 500k middle eastern fighters,trying to take down american citizens.hey dennis,dont forget to do a letter on the 75 watt incandescent bulb that socialism took down…….roflmao.
LMAO drummerboy
There’s nothing funny about it. Satan’s face appeared in my bowl of oatmeal the morning after the deal passed.
I was going to dump him in the compost bin, but he promised to give me a great market day if I spared him. You are all welcome.
ottnott,
now you should put him on ebay and bank more coin
don’t worry ott,i live 15 feet from a weeping icon of jesus, that folks all over the globe come to see. I AM NOT JOKING EITHER !!!!!!!!! and if your a good christian,,you can have those oils wiped on your forehead to be safe from all of evil.