How Did You Fare in the Final Fiscal Cliff Deal?
Are you expecting to see more or less in your paycheck this year? Do you think Congress blew it? Should there have been more spending cuts?
I don't know about you, but I'm not one of those folks worrying about the "tax increase for the rich" that was conceived in the fiscal cliff deal lawmakers finally approved on Day 2 of the new year. I'm not making $400,000 a year. Combined, my wife and I are nowhere near $450,000 a year. So, no worries. But for all the talk about "protecting the middle class," I'm apparently about to see a change in my take-home pay, thanks to the Jan. 2 deal that averted large across-the-board spending cuts and automatic reversal of some tax cuts. "Technically, income tax rates that were set to go up were actually left alone, except for individuals and couples earning more than $400,000 and $450,000 respectively," according to this Yahoo! Finance article …
In this Article:
The Missourian
4:50 pm on Monday, January 7, 2013
KCF: "From '95 to '08 (14 years) the Dems were in control of both houses of Congress a total of 2 years: '07-'08 - the last two years of Bush's presidency. Since 1995, there have only been 4 years total of Democratic House majorities in 18 years." more ›