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Dec 31 2013
By: MJB2348765 Fender Bender 3995 posts
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U.S Will NOT Go Over The Fiscal Cliff

[ Edited ]
29 replies 248 views Edited Jan 1, 2013

CNN has reported that the House has not made a deal on fiscal cilff vote, and there leaving there offices now. So as we worst feared the Fiscal Cliff ripple effect will happend. This is bad new for tax payers arcoss the board.  Smiley Sad   What do you think about the news? 

 

 

 

*Keep it clean please.*

 

 


I just goten word that they had made a deal and the U.S won't go over the Fiscal Cliff. Smiley Happy 

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Treasure Hunter
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Re: U.S Will Go Over The Fiscal Cliff

Dec 31, 2012
Spectating outside the US for the spectacular train wreck. Smiley Happy

Hehehehehe... Smiley Very Happy
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Re: U.S Will Go Over The Fiscal Cliff

Dec 31, 2012

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Welcoming Committee
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Re: U.S Will Go Over The Fiscal Cliff

Jan 1, 2013

Boehner should have done what Gingrich said back in early December.  Pass all the bills in the House to fix the problem, send them all to the Senate for a vote, and go home.  The Senate has not passed a budget of any kind in 4 years.  They are the problem.

 

Then there's no "blame the Republicans" option.  They already did their job.  Time to do yours.  Just fix this mess already.

 

But they didn't.  This means that the Bush tax cuts will expire tonight at midnight.  Here's how this will work.  The tax rates will go up for all Americans on 2013 money.  So if they're taking 200 bucks out of each paycheck today for taxes they may take out 250 in the next pay period.  So you will be taxed more through the automated process.  If the Government can get its act together and fix this, then it ought to go back down to 200 bucks taken out per pay period.  But let's say they don't fix it until April.  Then you already paid in extra taxes.  So when you file your 2013 returns in 2014, you might get that money back.  If they don't fix it, then this will become the new normal.

 

Higher taxes always cripple the economy, so I expect the markets to take a hit on Wednesday when they open.  The economy will suffer enough and the GDP will contract enough that the higher tax rates will produce lower tax revenues. The people who say things like "The Government can't afford to pay for these tax cuts," don't understand that tax cuts lead to higher tax revenues.  Any tax rate above the Laffer Peak (around 18.5%) is actually counter-productive and punitive.  You're bringing in hundreds of billions less in tax revenue a year and the only "positive" effect is to crush people or industries you don't like.

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Wastelander
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Re: U.S Will Go Over The Fiscal Cliff

Jan 1, 2013
Dear thy lord almighty Jesus and Abraham, please SMITE this forsaken cliff down

GOd Darn it, how the hell can I support my family now, I'm having a child in January, and my wife will be too exhaust to work, with a pay check of 900$ from Wallmart and now minus the 200 from this crap, how the hell can I support my family with 700$, I mean, my uncle will kick me out of his house after the baby is born, and I will either go back to the dorm ( not a great places for a child) or find an Apartment, either way this Fiscal Cliff DOOM me Smiley Sad
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Fender Bender
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Re: U.S Will Go Over The Fiscal Cliff

Jan 1, 2013

Wait there might be hope there talking about a deal might of been passed. O.O 

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Treasure Hunter
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Re: U.S Will Go Over The Fiscal Cliff

Jan 1, 2013

 They reached a deal . so no its not going over the cliff. It would hurt  the rich more than it hurts the poor. becuase the poor is already poor.

 

 This  the reason they reached a deal at  the last minute  becuase they  they would lose alot of  money.  Everyone know tea  party is the new  Klu  klux, and  they give real good  respected republican like regan, elder bush and  dewey a  bad name. Guys like  bohner  and allen west and  tthe likes  are just out of touch  with reality. these  are the  same fools  talking about the governemnt going is  broke but still in take in  100 K$ a month frmo the  government  for life . i dont see  any of then screaming for a pay cut.

 

 

 republican today are nothing of what the  repubs where in my day they are a disgrace today   and the  new klu  klux.. Go  look  all the  housing majoity leader memebers  all of the are  males and  white , not one  woman or  ethic  culture to  be found. Let the boys be boys  they dont  care as long they get thiers..

 

 

 

 

Mcbuttz78

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Seek wisdom, not knowledge. Knowledge is of the past, Wisdom is of the future

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Survivor
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Re: U.S Will Go Over The Fiscal Cliff

[ Edited ]
Jan 1, 2013

mcbuttz78 wrote:

 They reached a deal . so no its not going over the cliff. It would hurt  the rich more than it hurts the poor. becuase the poor is already poor.

 

 This  the reason they reached a deal at  the last minute  becuase they  they would lose alot of  money.  Everyone know tea  party is the new  Klu  klux, and  they give real good  respected republican like regan, elder bush and  dewey a  bad name. Guys like  bohner  and allen west and  tthe likes  are just out of touch  with reality. these  are the  same fools  talking about the governemnt going is  broke but still in take in  100 K$ a month frmo the  government  for life . i dont see  any of then screaming for a pay cut.

 

 

 republican today are nothing of what the  repubs where in my day they are a disgrace today   and the  new klu  klux.. Go  look  all the  housing majoity leader memebers  all of the are  males and  white , not one  woman or  ethic  culture to  be found. Let the boys be boys  they dont  care as long they get thiers..

 

 

 

 


The part that I bolded, yes, respected, however, I strongly disagree with him as during his time the seperation of church/state within the republican party collapsed, along with any respect for equal rights. To represent the people in a fair manner I think one shouldn't bring their [religious] beliefs into their legislation, however, should consider the diversity of the people.

 

Anyway:

 

Senate has struck a deal, House hasn't yet. - Source: http://www.cnn.com/2012/12/31/politics/fiscal-cliff/index.html?hpt=hp_t1

 

So whether we go over the fiscal cliff or whether it can be averted is yet to be seen.

 

 

 

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Ghost of Sparta
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Re: U.S Will Go Over The Fiscal Cliff

Jan 1, 2013

Don't the automatic raises on taxes trigger sometime in the first quarter and not, oh I don't know, today?

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Treasure Hunter
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Re: U.S Will Go Over The Fiscal Cliff

[ Edited ]
Jan 1, 2013

I take that back, I think they will...they really almost have to. If they don't pass it, then they will be blamed for letting us go off the cliff. Just my opinion.

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