Tags: Tilson | love | fiscal | cliff

T2 Partners' Tilson: ‘I Love the Fiscal Cliff’

Sunday, 11 Nov 2012 05:18 PM

By Dan Weil

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
While many financial market participants are horrified by the approach of the fiscal cliff, money manager Whitney Tilson of T2 Partners thinks it’s a good thing.

That’s because it will force both Democrats and Republicans to compromise, he told CNBC. Republicans will have to give on higher taxes for the wealthy, and Democrats will have to give on entitlement reform.

“I’m actually pretty optimistic,” says Tilson, who was a fundraiser for President Barack Obama. “I love the fiscal cliff because I think it’s a forcing mechanism that’s going to cause both parties to touch their third rail.”

Editor's Note: Unthinkable Haunts Investors: Evidence for Imminent 90% Stock Market Drop. 

Voters sent a message to the government last week, he says: “Stop playing politics and start working together to address the serious problems this country faces.”

Obama and House Speaker John Boehner have indicated they are willing to bend on their tax positions to reach an agreement.

In the past, Obama has insisted that the tax rate for families with income of more than $250,000 must increase, and Boehner has insisted that taxes can’t be raised at all.

Obama and congressional leaders of both parties will meet Friday to get things started.

“It’s going to be the real negotiating once they start talking in person,” Brendan Daly, a former aide to House Minority Leader Nancy Pelosi, tells Bloomberg. “Clearly, they heard the message of the voters that we need to work together and solve this.”

Editor's Note: Unthinkable Haunts Investors: Evidence for Imminent 90% Stock Market Drop.

© 2014 Moneynews. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Supreme Court Likely to Deal With Obamacare Subsidies Next Year

Thursday, 24 Jul 2014 11:56 AM

With the White House and most of official Washington still reeling from the back-to-back contradictory Obamacare rulings . . .

Two-hour Arizona Execution Sparks Calls for Rethink on Death Penalty

Thursday, 24 Jul 2014 11:22 AM

Lawyers for a double-murderer whose lethal injection in Arizona dragged on for two hours called for an outside review of . . .

Fans Protest Tony Dungy's Clarification on Sam Comments

Thursday, 24 Jul 2014 11:06 AM

NBC sports analyst Tony Dungy has clarified his comments on drafting Michael Sam, the first openly gay NFL player, but D . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved