Prepare for new taxes one and all

[Berserker]

Seems that since the GOP is so divided that they can't even pass their own bill means we will all see new taxes next year.

And what bugs me is that their bill made permanent all tax cuts for everyone under 1 million dollars and still the GOP wouldn't pass it. That's 0.1% of the population...

A christmas gift from the GOP. Enjoy!

[hypo]

It can be retro actively applied. So you might see a small increase in a few paychecks but it will not be long and both sides have agreed that the tax breaks for the middle class must remain if we ever want to recover as a nation. The problem is both sides are using the middle class as a bargaining chip as to why the other should fold and give in to their demands, which should piss us all off. F the poor, F the rich, don't F with my money (just messing, kinda).

I almost feel that we have fallen further away from bipartisan politics where the is no middle, no negotiations, and that is why we are at the point we are waiting to the last minute to resolve this cliff. This also isn't anything new to our gov't, just seems to be getting worst. Or it could be the only thing that has changed in our society is instant media coverage so we know every discussion and decision that is being discussed instead of just getting the final report. Otherwise the gov't is still running at the same snail pace it has always run at.

[Berserker]

Yeah, that's true. Speculation goes that both sides will benefit if they wait till the new year so they are on purpose waiting. That way, when they agree to "cut" our taxes next year, both parties can say they cut taxes for 99% of the people (and the GOP can say they kept their pledge to not raise taxes on anyone).

What i'm more affraid of is the debt ceiling that is coming up in the spring because that has the potential to close the govt, default on our loans and have our credit downgraded again. Oh and the sequestration is going to see me furloed for 20 some days == my middle class $$ bailing out the country again...

And I agree that the word "compromise" seems to now be an ugly word and as long as that is the case, we're just going to go from bad to worse. We need fresh blood. Did anyone say term limits??? If the president only serves twice in a lifetime, so should those pesky congressmen.

[Berserker]

Turns out i'm wrong. The debt ceiling is not in the spring, but on Monday!!

http://money.cnn.com/2012/12/26/news/ec ... ?hpt=hp_t1

We're fucked! :P

[Thomas Fitzcharles]

Good Day, Serban.

I am very sorry to hear that you may be furloed. Hopefully the president, senate and house can get their combined acts togather and stop the maddness. They don't seem to care that they are playing games with people's lives.

Sincerely

Thomas

[Berserker]

Well, it's not certain yet. They still have some time before the furloes happen to do something. Likely if I am furloed it will be later in the year. But everything else they are running out of time.

On the bright side, if everyone's taxes go up and the sequestration goes in effect, that means deficit reduction right? ;)

[Thomas Fitzcharles]

Good Day, Serban.

Well we can only hope for the best. If we are hit with sequestration I heard our deficit for the year will only be 335 billion instead of a trillion plus . But I don't think they took into account the loss in tax revenue that will occour when we go into a depression I was kind of thinking sequesstration wouldn't be such a bad thing. Cuts in the military, cuts in spending and tax increases for all. Things we do need, but the shear impact of all these at once is just a little to much to take. I believe this area will be hit very hard with all of our military, contractors and government jobs that may be lost.

Sincerely

Thomas