Super Committee fails to reach debt deal

[The Buzz]

It appears the debt super committee will announce it has failed to reach an agreement on how to reduce the deficit in the United States. And that means a popular opinion on how online poker could get regulated in the U.S. (as an attachment in any debt deal) is a no-go as well.

From Gambling911:

The online poker measure, which is said could feed the US economy with billions of dollars, added jobs and enormous tax benefits, is far from dead in the water. Supporters the likes of Senate Majority Leader Harry Reid and Congressmen Barney Frank and Joe Barton, will simply have to wait for another opportunity to arise, and that might not happen until early this coming new year.

[Anthony]

If the Capitol was on fire they would all die in a meeting room arguing the proper protocol to evacuate the building. This problem can only be solved with Term Limits!

[TheGooner]

The "Super" Debt Committee cannot come up with $1.2T is budget cuts simply because to propose cuts of that size is political suicide. We have a similar (but much smaller) issue down here with a local election - the bribes are coming out - every lobby group and internet looney wants more money spent on this, that and the other.

People have got used to sticking their hands out for "free" stuff - and do not want to lose any "entitlements".

Although people understand the concept of a balanced budget they want the cuts to come from elsewhere - and other segments to pay increased taxes. The public think that they want cuts - until they see what is being cut. People will only vote with their wallets.

I think that we are seeing the death kneel for democratic elections ...

[Buddy M]

Sadly, I agree with you Grooner.

[rm4quads]

"Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone."
-- Frederic Bastiat, The Law

[Caruso]

The online poker measure, which is said could feed the US economy with billions of dollars, added jobs and enormous tax benefits...

I remain at a loss with this one. Every dollar of tax is about $2 of consumer loss. So the government gets tax revenue, but consumers have twice as much less money to buy fuel (taxed), household supplies (taxed), go out drinking (taxed) and have a smoke (taxed).

So it can only depress the economy, the only winners being the casino owners. And maybe affiliates. And sites like Gambling 911.

Etc.

(OK, maybe I've found my way to the answer myself.)

[grem]

The answer appears to don't smoke, don't drink and don't gamble. Then you will have money.

[robertmedl]

"It appears the debt super committee will announce it has failed to reach an agreement on how to reduce the deficit in the United States."

Did anyone really thing that they would reach a deal? Really? They're all a bunch of f**king idiots.

[Buddy M]

The answer appears to don't smoke, don't drink and don't gamble. Then you will have money.

It would be nice if it were that eazy. I think you'd have to add, don't eat out (8.55 restaurant tax), don't live in a house ($2,800 Property tax per year), don’t drive a car (33% gas tax, $288 vehicle registration tax per year, 8.5% plus 2% lux tax on sale), don’t die, (what is the inheritance tax now anyway?), don’t flush the toilet (Check your property tax bill, sewer tax; it's on there)

I think there is more but I am only off work for two more days. OH that’s another one; don’t work (33%).

Hey if we want services there has to be taxes, it’s the ones who milk the system.

Those who remember John F. Kennedy's first speech might wonder what happened to his famous line:

"Ask not what your country can do for you, but ask what you can do for your country".

It's reversed now unfortunately.