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Cramer: Cliff Jumping, How Bad Would It Be?
CNBC.com | December 03, 2012 | 06:11 PM EST

Is it possible that falling off the fiscal cliff won't be so bad? A growing chorus of pros including strategic investor Doug Kass suggest that could, in fact, be the case. In a New York Times article , Kass argued that one of the biggest stock market worries, the pain from higher capital gains and dividend taxes, would barely have an impact on the market because so few individuals have taxable accounts, only 14.7% of late, down from 23.9% just eleven years ago.Other pros who subscribe to the thesis say that the job cuts for 2013, which CNBC puts at as many as two million, won't happen as fast and won't be as high.

Plus, they say, the tax increases can always be rolled back if it turns out that going over the cliff has a serious impact on the economy.

Cramer's Top Dividend Stocks of 2012 As much as Jim Cramer appreciates optimism, he just can't get on board with the theory. "While nothing is irreparable when it comes to putting things back together again if we go over the cliff, I'm deeply worried about what will happen, certainly more than the school which says that the dire predictions are off the mark," Cramer said.

Here are three reasons why.

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