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Author: Subject: America is about to leap off the fiscal cliff
marymary100
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[*] Post 468354 posted on 27-12-2012 at 16:45 Reply With Quote
America is about to leap off the fiscal cliff



and pull us all down with it

Buddy can you spare a dime?
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marymary100
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[*] Post 468390 posted on 28-12-2012 at 21:58 Reply With Quote


which means the following Bush tax cuts will expire:
* Payroll tax cut expires = On average, families with incomes of about $50,000 would lose about $1,000 (619) per year as a result of the change.

* Long-term unemployment benefits expire = About 2 million people would be cut off from benefits immediately if the scheme is not renewed, and a further 1 million people could see their benefits dry up by April.

* The price of milk could double = This could drive milk prices up to $6-$8 per gallon, from a current price of about $3.65.

* Cutting federal compensation for doctors = the amount of compensation doctors get from the government for treating patients on government programmes could drop by 27%.

* Widening the inheritance tax net = Current rules state that inheritance below $5m per deceased benefactor is exempt from taxation, and the top rate is 35%. But rates could go up to as much as 60% as the taxable threshold drops to $1m.

http://www.bbc.co.uk/news/world-us-canada-20861809
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[*] Post 468489 posted on 31-12-2012 at 01:55 Reply With Quote
Meanwhile, somewhere in the western United States...



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