A technical guide to cliff-jumping, fiscal and otherwise

romney

"Oh no, we're going over the edge and I'm not driving!!!"

Hi ho, hi ho, it’s off the fiscal cliff we go ….

Yes, it’s still pretty early in the process. Negotiators in Washington are several weeks from the deadline for averting the so-called fiscal cliff, which would automatically kick in some $600 billion in tax hikes and spending cuts. But so far, neither side is willing to take the steps necessary to alter course. U.S. Sen. Lindsey Graham of South Carolina predicted over the weekend that “we’re going over the cliff,” and it wouldn’t be a surprise if he turns out to be right.

In preparation for that moment, I thought it might be timely to review five classic examples of cliff-jumping, including a brief analysis of the techniques, motivations and survival strategies, if any, involved in each.

1. The iconic “Thelma and Louise:”

thelma2

The “Thelma and Louise” is a grand philosophical gesture. It makes a statement to the world that life as we had previously known it just isn’t worth living any longer, so what the hell, right? Put the pedal to the metal and let’s see what happens.

A surprising number of those in Congress, both Republicans and Democrats, have apparently joined the “Thelma and Louise Caucus,” raising the odds that we’ll be going over the edge in spectacular style. As Louise told Thelma, “You’ve always been crazy. This is just the first chance you’ve had to express yourself.”

Among other things, it’s a terrible waste of a 1966 Thunderbird convertible.

2. The “Wile E. Coyote”:

Wile-E-Coyote_falling

Wile E. Coyote is obsessed with catching the Roadrunner, but in the end is always frustrated by his own incompetence and bungling. Quite often, his dreams and plans involve mail-order Acme products, such as Acme rockets, Acme earthquake pills or, in the case of the 2012 GOP campaign, Acme polling and Acme Senate candidates.

The good news is that the Coyote is indestructible. After every failed attempt — most of which involve long, painful falls off a cliff — he picks himself up and tries again. The bad news is, he never seems to learn that doing the same thing over and over again only ensures that you keep getting the same bad results. That is both his charm and his fatal flaw.

3. The Acalpulco Cliff Diver:

cliffdive

The secret to surviving this form of cliff-diving is timing. If you launch your dive at the proper moment, as the ocean waves are surging in toward you, there will be enough water in the bay below to allow a safe entry. However, if you time it wrong — if you jump just as the waves are washing back out to sea — you can find yourself diving headfirst into the rocks below, and the results ain’t pretty.

I think there’s a lesson there, Speaker Boehner.

4. “The Buffalo Jump”:

Buffalo_jump

In the days before the arrival of the horse in North America, Native American tribesmen would whip herds of buffalo into a fearful frenzy and then stampede the herd into jumping off a nearby cliff, where they became easy pickings. And if you think about it, frightening others into jumping off a cliff en masse remains a great business model. Just ask Rush Limbaugh, Grover Norquist and Fox News.

5. “BASE jumping:”

BASE is an acronym for Buildings, Antennas, Spans (such as bridges), and Earth (cliffs), all of which become launching points for daredevil jumpers. Early BASE-jumping pioneers used parachutes to break their falls, but as seen in the video above, the latest innovation is wingsuits (no, not this kind of wingsuit), which turn the jumper into the equivalent of Rocket J. Squirrel.

Like Thelma and Louise, base jumpers go over the edge on purpose. Like Wile E. Coyote, base jumpers do a lot of careful planning. (They do not, however, order their equipment from Acme.) And like the Acalpulco cliff divers, base jumpers have every intention of surviving, and they do … most of the time, anyway.

It remains, however, very dangerous and is not for the faint of heart.

– Jay Bookman

315 comments Add your comment

Nunna Yobinnes

December 3rd, 2012
3:25 pm

Willie – Little Pink Houses for You and Me.

Erwin's cat

December 3rd, 2012
3:27 pm

Most people that have a mortgage take the standard deduction and don’t get the benefit of the special deduction

i find that very very hard to believe….do you have any data on that?

chuck

December 3rd, 2012
3:29 pm

Losing the mortgage interest deduction without lowering the marginal rate would result in a $4000 increase in my tax bill. With the increase of not making the Bush tax cuts permanent, I would essentially be looking at bankruptcy. The increase for people making 120k per year according to an article in the paper last week, is 14,000, so we are looking at an 18k tax hike. That may seem like nothing to you, but it would make it impossible for me to keep my house.

jms

December 3rd, 2012
3:44 pm

The party is over. Tax increases (on all, not just the wealthy) and benefit cuts (on all, not just the wealthy) are what we as a nation have in store for us. Both will become worse the longer our elected officials refuse to deal with the realities of our staggering debt, our overpromises on benefits and our demographics. Here’s to the future!

Oscar

December 3rd, 2012
3:45 pm

Bro – We have a population explosion now. There are poor people in this country who are dying of starvation because we can’t produce enough to feed them. And it’s worse in other countries. And it will get even worse in years to come.

The earth, and the US can only support and feed so many people, and we have passed that number already.

We need to stop the population growth. Not encourage more babies.

Oscar

December 3rd, 2012
3:46 pm

Erwin – Had some. But did not save it.

Oscar

December 3rd, 2012
3:47 pm

Chuck – Sounds to me like you bought a house you can’t afford. Don’t blame me for that.

Brosephus™

December 3rd, 2012
4:01 pm

We have a population explosion now. There are poor people in this country who are dying of starvation because we can’t produce enough to feed them.

Not likely. What’s the current ratio of workers to retirees? That’s why Social Security is strained right now. Increasing the number of jobs/careers is what we need to straighten out all this fiscal sh*t. We pay farmers to NOT grow food at times, so how can we both do that AND starve people?

chuck

December 3rd, 2012
4:15 pm

Oscar, first I wouldn’t think of blaming you for anything…except possibly poor reading comprehension or naivete. Second, I can afford the house just fine if the government stays out of my pocket. Perhaps a reading comprehension course might help you understand the finer points of the post.

Marc

December 3rd, 2012
5:09 pm

I read some where and I agree give Obama what he and the socialists, AKA Democrats, want. All of it! Obama’s not going to stop here he has a “mandate”! Then let them tell our children why the growth in the country stopped because there was no money to invest because of these taxes. That this is the reason there are no jobs. That there’s only debit to be paid and no Medicare and Social Security. Tell them why the 1% left this country in droves.

[...] $300 – $400 per mont in additional Federal income taxes? … Read the original post: A technical guide to cliff-jumping, fiscal and otherwise | Jay Bookman ← Income Tax Accounting, a Comparative Look Between US – [...]

Nunna Yobinnes

December 3rd, 2012
6:33 pm

Paul, you can twist it any way you want to, but the increase is still $9,162 (assuming the article you linked is correct), not $2,000 and not $1,500. The tax is what the tax is. No amount of arguing about marginal rates will change that. That only works if the taxable income brackets remain the same.

LeAnne Lemmond

December 3rd, 2012
7:51 pm

This is a particular brilliant piece. Love it. Hope to see you over the holidays.

ld

December 3rd, 2012
10:27 pm

skipped bungee jumping off a cliff?

W/Congress so polarized, it seems the only way there will be enough “revenue enhancements” and enough “budget cuts” to address the deficit is take the leap. YAY fiscal cliff.

independent thinker

December 4th, 2012
7:19 am

Cons went off the cliff a long time ago when W enacted his tax cuts, started three unfunded wars (yes the war on terror is a war and Homeland Security ain’t cheap), passed unfunded Medicare Part D to get W reelected and securitized worthless mortgages so the fat cats in the banks and Wall Street could get big bonuses at the expense of the taxpayer noto mention doing everything possible to outsource and offshore jobs with no penalties. Problem is the Black janitor in the White House has not cleaned up the mess at the bottom of the cliff fast enough so more cliff jumping may be necessary by the cons in Congress themselves. Can we televise?
Of course before jumping the cons will blame their departure on the 47% as to be expected.