11/8/2012 8:30 PM ET|
Heading for the fiscal cliff
You'll hear a lot about the fiscal cliff in the news from Washington and Wall Street through at least the end of the year. Here's what it is.
VIDEO ON MSN MONEY
Of course we have been hearing an awful lot about it from the LEFT this week. The ones who were tuned into Fox have been discussing it for months.. Screw you MSNBC!
Did everyone actually read the article? Sorry to the few who had comments that indicated you did.
#1 and 6 are tax BREAK EXPIRATIONS. We were always suppose to pay these. Also, top marginal rate and estate tax are not going to change anything for most of us.
#2 may very well be changed, as it has annually via Congress in the past, it sounds like even the past years with President Obama
#3 aren't you complaining about handouts? why do you care if this expires?
#4 unless you are in the medical field how is this applying to you? I am and it would not be good for many, especially primary care providers
#5 anyone know who is responsible for coming up for a budget? Congress AND the president, not just the president; probably why this article was addressed to both
#7 the only new tax, and listed as being on "high earners" and "investment income". So again, how many are really going to have an noticeable change? Designed to benefit the health of the population, not even debated in other developed countries.
Also, commented on is the national debt. You do realize that this is money going into the government, right? this article is stating that WITHOUT the above happening, the debt would increase by 8.1trillion dollars over 10 years. Many of these would be good to renew and update like education credits, the AMT and medicare payments, but doing so would decrease government income therefore increase debt unless other areas of spending are cut to make the balance.
Point. 25billion dollars for the year sounds like a lot. But with a yearly expenditure of over 3trillion dollars, there are other areas of the budget people complaining about big government might want to take a look at, I think the military costs are over 600billion dollars.
When we in the USA stop supporting foreign countries, stop sticking our noses into the affairs of world governments and start living within our budget we will all start working and living a good life within our means. Those of us who are not in debt know how to do this.
Everyone stop whinning and put some real pressure on the president and congress to get their act together.
With the re-election of Obama, I am more concerned about the moral cliff. Actually, we probably already went off that cliff which is leading to this next one. The two are related. Study history.
This, is what Obammer has offered you under his so called leadership. And, half of you voted for him. Remember Rome? Some say the split into an eastern and western empire governed by separate emperors caused Rome to fall. The eastern half became the Byzantine Empire, with its capital at Constantinople (modern Istanbul). The western half remained centered in Italy.
So it separated with different beliefs...... sound familiar?
If Obama gets big on gun control then you know He knows whats coming.
Who actually thinks that either one of these parties is "for the middle class"??? Its nothing but the super-rich and the corporations on one side againt the super-rich and corporations on the opposing side. Do any of you liberals REALLY think that Obama isn't backed by fat cats out to get fatter off of OUR money while this country is devastated? If you do, enjoy your time in Candyland. For those of you on the right that actually had any hope in Romney, that actually thought what he had planned for the country was going to be much better than what Barrack has in store then grab a glass of Kool-Aid and have seat around the drum circle with the hippy libtards. The GOP really couldn't come up with anybody better than Mitt Romney!?!? The fact that most people in this country think that types like George Bush and Mitt Romney are conservative show you how far left this nation has gotten. It was high-jacked a long time ago. Americans have been conditioned to not pay attention to politics, thats why these criminals running our country have gotten away with their schemes and we find ourselves in the position we are now in. Its probably a little too late to start paying attention now. So don't worry about it America go back to your hip-hop, reality tv, and your sports mania. Elections over, Barry's in there for 4 more, he'll take care of things for us.
Do you think we could find a journalist to ask the president one simple question: How much revenue will be generated by taxing the rich "a little bit more"? It has been calculated that, per the president's proposed revised tax rates, an additional $50 billion would be generated each year. I will let you calculate the minute percentage of the annual deficit of over $1 Trillion the additional revenue would amount to. The problem is that the majority of the electorate doesn't understand the difference between a billion and a trillion and do not have the rudimentary mathematical skills to make that simple calculation. Of course, the president knows that the purpose of his tax proposals have nothing to do with additional revenue; the purpose is to create class warfare and satisfy his "gimme" base. The "greatest generation" parented the "most selfish generation" who has left an insurmoutable debt for their children and grandchildren.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The stock market ended the holiday-shortened week on a mixed note as the Dow Jones Industrial Average shed 0.1%, while the S&P 500 added 0.1% with seven sectors posting gains.
Equity indices faced an uphill climb from the opening bell after disappointing quarterly results from Google (GOOG 536.10, -20.44) and IBM (IBM 190.04, -6.36) weighed on the early sentiment. Google reported earnings $0.15 below the Capital IQ consensus estimate on revenue of $15.42 ... More
More Market News
|There’s a problem getting this information right now. Please try again later.|
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'