Technology’s helpfulness or hindrance factor, a debate that has rippled throughout the ages, gained a fervent supporter this past Wednesday after the AutoPen was used to avert the dreaded Fiscal Cliff.
The ominous tax hikes promised if Congress could not come to a resolution by the end of 2012, were avoided when a House vote solidified a mostly favorable agreement on both sides of the aisle late New Year’s Day. But with the holidays upon all, many were away including the President.
Far from the steps of Capitol Hill and with a bill in desperate need of his signature, President Obama turned to the Autopen Wednesday morning, a machine-powered pen that replicates a signature by following the lines of an engraving, to sign into action a bill that makes permanent the Bush administration’s tax cuts for individuals earning less than $400,000 per year and couples earning less than $450,000. It will also raise rates on those who make more than that from 35% to 39.6% and will raise roughly $600 billion in new revenues over 10 years, according to various estimates.
The AutoPen is primarily used for purposes of a lesser caliber but whatever the reason, technology’s helpful factor in this situation is hard to deny.
What do you think of the fiscal cliff?
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