I think what you mentioned and the child tax credit will revert back to $500/child instead of $1000/child and your tax bracket would go from 28% to 31%.

 

So far for the $100,000 wage earner with 2 kids we have +$2000 SS tax + $1000 tax credit + $3000 tax bracket = $6000 more in taxes

 

Anything else?

The dominant talk from here to the end of the year is going to be "fiscal cliff."

 

If an agreement is not reached taxes go up on all, defense cuts take place, unemployment benefits stop.

 

I heard a report today that said IF we go off of the cliff that the first year will be rough but the 2nd year will see UE drop to about 5% and the job market take off.

 

 

So can we handle one tough year?

 

I've already had 4 tough years, I need some relief!

Can we please stop playing around with the debt ceiling?

 

You're asking me to talk about the fiscal cliff without mentioning the debt ceiling?

 

Should spending be curbed? Sure. But the way to do that is by actually trimming down certain programs, not simply declaring that the United States no longer feels it needs to pay its bills.

 

Trimming down certain programs is exactly what Congress came up with last year in the debt ceiling agreement. Allow sequestration to happen.

 

 

Not sure where I stated that we shouldn't pay our bills.

The Republicans need to compromise on this, I know that Boehner wants to, but he needs to grow some and get the youngins in order. They need to agree to the Clinton era level taxes.

 

In return immigration reform should be agreed to be brought to the table.

 

Also, the US should give most favored nation status to Mexico, which they want. In agreement that they will help secure the boarders better. Plus it will help Mexicans to want to stay in Mexico. They think they still own the southwest US, they will get the status one way or the other, either by the US agreeing now, or wait until there are a lot more Mexicans in the southwest to become a much larger voting block to force the issue later.

My prediction: They will enact temporary measures to temporarilly avert the "fiscal cliff" then "kick the can" down the road. That is all they ever do. Our spending more than we take in will catch up with us. LEADERSHIP, please. We need tough discisions made.

Everybody say that the Bush tax cuts will expire .What tax cuts ? I never saw any . My taxes under President Bush either stayed the same or went up . Bush tax cuts indeed . What a Crock !

You're asking me to talk about the fiscal cliff without mentioning the debt ceiling?

 

 

 

Trimming down certain programs is exactly what Congress came up with last year in the debt ceiling agreement. Allow sequestration to happen.

 

 

Not sure where I stated that we shouldn't pay our bills.

 

That's what the debt ceiling does. The process of setting the debt ceiling is completely independent of allocating money for government expenditures. It does NOTHING to prohibit Congress from running a deficit or even increasing that deficit. All it does is place a cap on our government's ability to repay the debts it has already incurred.

 

The ONLY other country that has a debt ceiling is Denmark and theirs is so high that they'll never reach it. The debt ceiling is useless and, as we saw last year, is used as a political tool... and a particularly dangerous one. All it serves to do is to confuse this country's creditors every time we say that we're not going to raise it.

That's what the debt ceiling does. The process of setting the debt ceiling is completely independent of allocating money for government expenditures. It does NOTHING to prohibit Congress from running a deficit or even increasing that deficit. All it does is place a cap on our government's ability to repay the debts it has already incurred.

 

The ONLY other country that has a debt ceiling is Denmark and theirs is so high that they'll never reach it. The debt ceiling is useless and, as we saw last year, is used as a political tool... and a particularly dangerous one. All it serves to do is to confuse this country's creditors every time we say that we're not going to raise it.

 

 

You're preaching to the choir, man. Not sure what you're trying to tell me.

Are you saying things haven't improved since the collapse...

 

Yes.

 

You could reference other parts of the post...like would you care if we went back to spending levels that resemble 2008? Would you care if sequestration happened and the military was cut?

You're preaching to the choir, man. Not sure what you're trying to tell me.

 

Sorry, I interpreted your first post as asserting that Congress ought to vote against raising the debt ceiling. My apologies.

 

We should get rid of the dumb thing once and for all.

Everybody say that the Bush tax cuts will expire .What tax cuts ? I never saw any . My taxes under President Bush either stayed the same or went up . Bush tax cuts indeed . What a Crock !

 

I will let you know Jan. 15th. if it happens

Everybody say that the Bush tax cuts will expire .What tax cuts ? I never saw any . My taxes under President Bush either stayed the same or went up . Bush tax cuts indeed . What a Crock !

 

Your income taxes certainly did go down under Bush. However, if you think they did not are you calling out your president as a liar?

Yeah, nothing to do with Baby Boomers hitting retirement age 3 or 4 years ago and retiring. Like I said if you don't want to acknowledge job improvements, improved housing market, auto sales, etc., it's fine with me. You will just have zero credibility and reside in rightwingmakebelieveland.

Foodstamps Surge By Most In One Year To New All Time Record, In Delayed Release | ZeroHedge

This not a sign of an improving economy.

Sorry, I interpreted your first post as asserting that Congress ought to vote against raising the debt ceiling. My apologies.

 

We should get rid of the dumb thing once and for all.

 

You assertion was correct. Congress should vote against it. I subscribe to the thought, however, pertaining to the debt ceiling being dumb. It shouldn't exist.

 

Is that Mises in your avatar?

You assertion was correct. Congress should vote against it. I subscribe to the thought, however, pertaining to the debt ceiling being dumb. It shouldn't exist.

 

Is that Mises in your avatar?

 

No. Tolkien.

 

What is the benefit of voting against raising the debt ceiling?