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Are Americans really aware of what the fiscal cliff means to them?
The fiscal cliff includes:
1) The expiration of George W. Bush-era tax cuts on income, investments, married couples and families with children and inheritances. In addition, some 26 million additional face the alternative minimum tax next filing season, which would raise their taxes by an average of $3,700. Cost through September: $330 billion.
2) A $55 billion, 9 percent cut in the defense budget next year and another $55 billion in cuts to domestic programs, including a 2 percent cut to Medicare providers.
3) The expiration of unemployment benefits for the long-term jobless. Cost: $26 billion.
4) A sharp cut in reimbursements for doctors participating in Medicare. Cost: $11 billion.
5) The expiration of Obama's temporary 2 percentage point cut in payroll taxes. Cost: $95 billion.
6) A variety of smaller taxes cuts for both businesses and individuals collectively known as tax "extenders." They include a tax credit for research and development and a deduction for sales taxes in states that don't have an income tax. Cost: about $65 billion.
7) A need to increase the government's borrowing cap (the so-called debt limit) of $16.4 trillion. The government is expected to hit the cap late this year but the Treasury Department has the authority to juggle certain accounts to buy several more weeks of time so that Congress won't he to act until early next year.
6 Antworten
- L.T.M.Lv 7vor 8 JahrenBeste Antwort
I don't think the politicians on either side have the stomach for it. They'll put on a good show (like with NDAA)...then, surprise surprise , they'll cut a deal. One thing is for sure, "the rich" will be paying more when all is said and done. It's not about the economy, it's about 'revenge' like Obama said.
- cotherLv 4vor 5 Jahren
Intentionally dysfunctional President combined with the ploys of a Senate that has not handed a price range has hopefully subjected us to their last acts of terrorism. The Dems is probably not feeling so good when they need to face the song once we handle the debt ceiling. The residence have got to hold their feet to the fireplace and be competent to let all hell break unfastened. I know longer care in regards to the ignorant sheep who've supported the likes of Obama, Reid and Pelosi. They are going to have got to pay the cost for his or her lack of knowledge. The Evil three however have made hundreds of thousands!
- ~ Libby ~Lv 6vor 8 Jahren
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I enjoyed your "preface," but to answer your Q, I REALLY DO NOT THINK SO !!
Just like the Election and other Important (imo) Issues, I feel like the "Average American,"
is HOPING that SOMEONE ELSE will take care of this.
What a surprise 2013 will BE for SO MANY !!
EDIT -- ...and Thanks for the Link !! :)
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- Blue FlashLv 4vor 8 Jahren
And do not forget about the downsize of our Military. Our foreign policy's that are falling. And the take over American freedoms.
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- Anonymvor 8 Jahren
some individuals do know about the fiscal cliffs.but there's very little we can do about it cause uncle sam controls the money sitution
