Friday, January 4, 2013
The agreement reached between the White House and Congress doesn't address spending cuts and leaves another potential debt limit showdown on the table. It also increases taxes on income over $400,000. Is this a deal that works for you?
- GOVERNMENT
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Friday, January 4
After a marathon holiday negotiation session, after grumbling by liberal senators and after a near-revolt by conservative representatives, the fiscal cliff deal was approved by the House of Representatives late Tuesday. The bargain will increase taxes on income above $450,000 for families, increase capital gains taxes, permanently fix the alternative minimum tax, change the estate tax and provide some changes in deductions. It also will extend unemployment benefits, earned income tax credits and other tax breaks for the working class. The Washington Post has a cheat sheet with all of the details. Middle class taxpayers will still see a smaller paycheck in 2013; The payroll tax cut was not preserved as part of the fiscal cliff deal. That …
Wednesday, January 2, 2013
Like many House Republicans, he did not agree with the compromise.
- GOVERNMENT
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Wednesday, January 2
Conservative Rep. Tom Price (R-District 6) voted against the last-minute fiscal cliff deal passed by Congress over New Year's, according to govtrack.us. A real solution includes both revenue increases and spending reductions," Price recently said on CNN's "State of the Union." His district includes Northeast Cobb. Price isn't the only member of Congress - especially among the GOP - to believe the compromise was ill-fitted to the need and will only lead to more hard decisions soon. The deal raises taxes on individual incomes over $400,000 and over $450,00 for household incomes and a portion of estates more than $5 million. The compromise is said to allow Congress to have more time to work on government spending.
Sunday, December 30, 2012
We’d like to hear from you on how the possible tax hikes would impact your family.
- GOVERNMENT
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Sunday, December 30, 2012
With New Year’s just around the corner, all eyes are turning to Washington, D.C., where lawmakers are working to prevent America from falling off the so-called fiscal cliff. That cliff, according to the Huffington Post, is the automatic activation of budget cuts and tax hikes that will kick in on Jan. 1, 2013, if something isn’t done to prevent them. As it stands right now, no agreement has been reached between the Democrats and Republicans to prevent the financial changes from occurring. Some economists say the budget cuts and tax hikes will catapult America back into another recession. President Barack Obama has cut his holiday vacation short, according to the Post, and is returning to Washington to try and work out a deal. Republicans …
Thursday, November 29, 2012
Lawmakers in Washington have a Dec. 31 deadline to prevent start of automatic tax hikes and budget cuts.
- OPINION
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Thursday, November 29, 2012
After kicking the can down the road to avoid making hard choices in the face of an election, lawmakers now have just a few weeks to face financial reality for the American people. Experts may debate whether it’s a “fiscal cliff” or a gentle slope, but everyone seems to agree that dealing with the deficit and expiration of Bush-era tax cuts is a must. (See Wall Street Journal video explainer.) Congress set their own deadline to do so of Dec. 31, 2012, conveniently after the election. But with another election at least two years away, it's now time to do something about it. Up until now, each Party has blamed the other for the footdragging, but all indications are that the American people are tired of the deadlock in Washington. They're …
Marlene Mitchell
5:07 pm on Sunday, December 30, 2012
(invision giant eye roll) Not the GOVERNMENTS fault for spending us into the poor house...nope, not our benevolent politicians. Even Obama stated that the tax increase for the upper 5% won't make a dent but that he wanted them to pay extra anyway to be "FAIR". To be REALLY fair, how about our elected officials NOT be exempt from what the lowly taxpayer has to do.....and you can start with … more ›