Fiscal Cliff

[ktheodos]

Are you concerned? Will it be addressed by Congress/Obama?

[dcrotteau]

Yes, it will be addressed by President Obama, but  Boehner and the republican congress are going to fight everything Obama says.  It's like they don't care about the country, just their jobs and keeping cash in the hands of the wealthy.   

[BlackSheepNY]

Are you concerned? Will it be addressed by Congress/Obama?

Everyone should be concerned.  Absolutely, it's going to be addressed by Congress and Obama.  Just when you THOUGHT your taxes would go down, you're gonna see them increase phenomenally.  You'll be forced to buy healthcare, and if you can't afford it?  You'll pay for it anyway come tax time (it's a TAX, remember that).  Those of you who like to scream for "free stuff."  Forget it.  You'll be paying through the nose - and guess what? - you're gonna LIKE it because, after all, it's what you voted for.

Is taxing the rich going to stop this fiscal cliff?  Well, let me ask you this - the plan is to raise taxes on the wealthiest Americans - these are the job creators - the movers and the shakers - the people who hire YOU.  (Of course, taxing the rich is a farce because everyone's gonna be paying for it whether they realize this or not yet.)  What happens when these job producers can't afford to hire you any more?  What happens when they've been taxed so much, they're no longer considered "wealthy," but are on par with the rest of us who are mere peasants - the middle class, the below middle class?  Who do you THINK will be paying those taxes then to save us all from the fiscal cliff?  Welcome to Serfdom 101!

[jorhea]

The rich are not being taxed too much! They average around 15% in taxes while the rest of us average around 35%. Where is that fair? And they sure aren't using that savings in taxes to create jobs. If you believe that, you are sadly mistaken. I am not talking about the small business owner here, I am talking about the people that are wealthy.

And yes, I do think it will be dealt with. But we will be right at the very edge of that cliff before they implement something at the last minute.

[hawkeye3210]

The rich are not being taxed too much! They average around 15% in taxes while the rest of us average around 35%. Where is that fair? And they sure aren't using that savings in taxes to create jobs. If you believe that, you are sadly mistaken. I am not talking about the small business owner here, I am talking about the people that are wealthy.

And yes, I do think it will be dealt with. But we will be right at the very edge of that cliff before they implement something at the last minute.

The average person isn't paying anywhere close to 35%. The average effective rate for someone making between $50,000-$74,000 (median household income is $50,964) is only 7%, while those making over $1 million are taxed at an average effective rate of 25%.

[vickysue]

The Republicans do not run congress. They may have a majority in the house but the Democrates have a majority in the senate and they will block anything that the house brings up unless it and Obama want it. So don't go blaming the Republicans for everthing. Obama is the one in charge the buck stops with him and he will do whatever he wants.

[bobes915]

It will be dealt with either before or after it takes effect.  There are a lot of members of Congress who want to be re-elected in a few years and the "It's the other party's fault" garbage isn't going to fool Americans forever.  I almost think it might be better for the country if they deal with it after we go over the cliff because then we are more likely to get something substantive.  In my opinion, until long term reforms are in place and spending is capped as a percentage of GDP and the disease is caged, no amount of taxation of anyone is really going to help.   

[smithjcsdfw]

It will be dealt with one way or the other.  We may not like the results.  But we have had a long time to fix it and now it is time to pay the piper.

[swogden]

Addressed?  Of course!  It'll be debated from now until the middle of next year and maybe the compromise solution will be retroactice to 2012 -- but one thing I've certain of is that the tax rates will be higher next year than this year. 

At a minimum, figure on a .03 increase in each tax bracket.

Imho, it wouldn't have made any difference who was elected.  Taxes will be higher.  Benefits will decline.  How else do you balance the budget and move to reduce the deficit.

[dkanofsky]

If the politicians (our employees) can't find a definite solution to this issue, they all ought to take a flying leap off the fiscal cliff.

[Gerianne]

I am reading [almost finished with] an excellent book "Web of Debt" by Ellen HODGSON Brown. It is revealing and if you keep it in perspective, the reader can learn from it [where to put your support]. There has long been a joke about the Federal Reserve printing money "out of thin air"  and that is as far as people go on the comments. Many people know it's true. Then, hey, it doesn't exist.....I hope you'll read the book. There is hope. Read it to the end.