John Boehner has fired the first shot in the fiscal cliff wars. Saying that raising the tax rates on the top earners would "destroy 700,000 jobs" and cited an Ernst and Young study. Whoa, losing 700,000 jobs in the next year or so, that sounds bad, doesn't it? . But if one takes a look at the study http://www.nfib.com/LinkClick.aspx?fileticket=OMV7uZczVaM=&tabid=1083 you will find this statement, "Employment in the long-run would fall by 0.5% or, roughly 710,000 fewer jobs, in today‟s economy." Hmmm....what's the "long run"? Well, according to the study, it means "For models of this type, roughly two-third to three-quarters of the long-run effect is reached within a decade." footnote 2, page 23 OK, so within 10 years roughly 475,000 to 532,000 jobs would be lost.