With leaders of Congress becoming more and more skeptical a deal will be reached before midnight Monday to avoid the fiscal cliff, it becomes more likely American paychecks will get smaller Tuesday, according to a story in today’s New York Times.
“I have to be very honest,” Senate Majority Leader Harry Reid said in the New York Times article. “I don’t know time-wise how it can happen now.” The Senate reconvened today in an unusual session between Christmas and Jan. 1.
Even if the Senate passes legislation, the House of Representatives will not come back into session until Sunday barely 24 hours before the deadline, according to a story today on Politico.
If no deal is reached, a single person with two exemptions earning $50,000 per year will see income taxes increase from $7,103 to $8,551 per year, according to a fiscal cliff calculator published by Bankrate.com.
If you want to know the affect on your income, click here to get to Bankrate.com and the calculator to plug in the numbers specific to you.
You rich guys aren't the only ones doing TAX Free investing. Never noticed in IRS Publications where it say this is for extremely wealthy Sully only
Oh, and watch the language.
Recall an estimated 46% of eligible voters did not vote in this election. In my mind, that hardly warrants calls for a "mandate", regardless of who won. If my math is correct, only about 27% of the eligible voters affirmatively expressed favor for the President. But I think the evidence will indicate that of that 27%, many different special interest groups provided sufficient turnout (probably based wholly on their issue -unions, gay marriage, anti-war, anti-entitlement reform, etc.) for the democrats to win. So I don't know if "rigged" is the right word, but there were shifts in voting policy that certainly benefited the President's base (same day voter registration, voter caravanning, early voting, no voter ID requirement, encumbrances on military voting, etc). In the future, for the sake of solidfying the country following federal elections, I hope processes are put in place to eliminate the potential for voter fraud. I wonder, if in the current debate if the republicans gave into the tax increases in exchange for a mandatory voter ID system if then the dems would go for it?
― William F. Buckley Jr. Flag THAT, Brad.
Ezekiel 25:17.
Way to go you Republi-CON.
dantheman19641@gmail.com
I guess i shouldn't post something like this without providing more details. The idea for this blog, which i've run by the local Patch editor, is to have a small group of people who either lean left or lean right and to be part of a small 'debate' team. We would pick a hot topic each week (maybe pulling from a Brian Slupski news item, etc) on e.g., Monday, and would select one person from each group to submit an initial stance on the subject, and these would be posted at the same time. So we would have opposing viewpoints to consider on a given subject. We would then chime in with thoughts about what was said on each side, and then two other team members would submit a rebuttal, which would also be posted at the same time, probably on Wednesday. On Friday, somebody would submit a closing statement from each team.. hopefully there would have been some give and take during the course of the week where we learned something from the other group, etc. Let me know if you are interested in being a contributor. My role would simply be to organize, be a contributor and keep things moving. I would also strive for civility. Name calling can be fun, but it's not constructive. We would have to keep each other in check and pretend that we were all in the same room together.