Showing posts with label Fiscal Cliff. Show all posts

Friday, December 28, 2012

Even More Fiscal Cliff Cartoons

Monday, December 17, 2012

Fiscal Cliff Funnies

Saturday, December 1, 2012

John Boehner does not look Happy

The post-election negotiations on U.S. deficit reduction that began with a surge of optimism sputtered this week with Republicans expressing political indignation over President Obama’s opening offer to keep a $500 billion mix of tax hikes and federal spending cuts from kicking in next month should no deal be reached.

“There has been no substantial progress over the past two weeks,” House Speaker John Boehner said Thursday at a press conference, adding to his daily reports that portrayed the closed-door negotiations as languishing.
A day later, the Ohio congressman and the Republicans' chief negotiator with the White House simply acknowledged talks had reached a “stalemate.”

Monday, November 19, 2012

How the Fiscal Cliff May Affect Your Taxes

In a few weeks, tax laws U.S. taxpayers have enjoyed for more than a decade are scheduled to expire. Along with long-standing and historically low tax rates, several popular tax credits and deductions already have or will soon expire.

That scenario is being described as a fiscal cliff. And if American taxpayers are nudged over that cliff by Congressional inaction, most of them will face dramatically higher tax bills.

Estimates by tax policy groups and government accountants put the total tax cost at more than $500 billion in 2013.

That averages out to almost $3,500 per household, according to calculations by the Tax Policy Center. Middle-class taxpayers are likely to see an average increase of almost $2,000.

Using Tax Policy Center data and hypothetical taxpayers, Bankrate shows what some tax bills might look like if lawmakers don't soon put up a guardrail at the fiscal cliff's edge.

Complete Break Down By: Yahoo Finance