With leaders of Congress becoming more and more skeptical that a deal will be reached before midnight Monday to avoid the fiscal cliff, it becomes increasingly likely that American paychecks will get smaller Tuesday, according to a story in today’s New York Times.
“I have to be very honest,” Senate Majority Leader Harry Reid said in the New York Times article. “I don’t know time-wise how it can happen now.” The Senate reconvened today in an unusual session between Christmas and Jan. 1.
Even if the Senate passes legislation, the House of Representatives will not come back into session until Sunday barely 24 hours before the deadline, according to a story today on Politico.
If no deal is reached, a single person with two exemptions earning $50,000 per year will see income taxes increase from $7,103 to $8,551 per year, according to a fiscal cliff calculator published by Bankrate.com.
If you want to know the effect on your income, click here to get to Bankrate.com and the calculator to plug in the numbers specific to you.
(Guess it is worth a whole $2.10 in silver, nice! My trouble is I had all my money invested in high-end electronics, much of which I had liquidated to fellow audiophiles earlier this year [boating accident? seen that pic of the guys in the swimming pool with the radio and 6-banger hooked up on slippers? LOL, that was me!], still keeping the 80's Japanese NAD amp [sucker has some juice! went through a couple speakers/woofers already yet] and was late coming to PM's, but better late than never, Mmm-Hmm, I know that's right, i'n that right, fellow American?) Just straight blues all nite long here at this homestead, probably 'til 4am maybe slip a little jazz and it was Hendrix which busted my last Dynaudio woofer, surefire woofer test if ever there was one. Enjoy, Frank.
Ain't it funky now? Our CONgress and KOTUS (Kick-the-can-down-the-road Of The United? States) loves us, can you feel the love? Can you?? I'm sorry, I sure don't feel it. DoO, F! it, may as well legalize the herb here in IL, let the 'illegals' put their energy and talent to good use and produce something of good use. Short the Cartels, short HSBC, overgrow the bankrupt NYSE, and soon to be NASDAQ (i guess volumes are real low, $150 billion has disappeared from NYSE in last few years, Mom+Pop retail exiting, stage left, and good for them!). They always speak to us about 'free market' principles, but try to put it into practice, and we know the score. (Could be a legit stock instead of a maintaining of status quo, keeping the shadow stock market/government gravy train going at all costs. Let it all burn down, I say. 'ring ring, barbarians at the gate. Let them in!' Nero & his fiddle.) They seem to be doing a fine bang up job of it themselves, have some more rope, bi(t)chez! More rope, make it hemp! That'll be enough, regards, Frank.
http://photos-g.ak.fbcdn.net/hphotos-ak-ash3/542153_518601391494236_256075306_n.jpg?dl=1
Why didn't Romney release his tax returns and off-shore investment portfolio?
We read all the jokes and forward the good ones but I just wonder who will pass this one on.How about you sending it on and back to me if you got the guts to do so.I am and just wonder how many I will get back?AND very happy to be of the 1%. Someone please tell me what the HELL's wrong with all the people that run this country!!!!!! Both Democrats and Republicans We're "broke" and can't help our own Seniors, Veterans, Orphans, Homeless, Etc.,??????????? In the last years we have provided direct cash aid to Hamas - 351 M, Libya 1.45 B, Egypt - 397 M, Mexico - 622 M, Russia - 380 M, Haiti - 1.4 B, Jordan - 463 M, Kenya - 816 M, Sudan - 870 M, Nigeria - 456 M, Uganda - 451 M, Congo - 359 M, Ethiopia - 981 M, Pakistan - 2 B, South Africa - 566 M, Senegal - 698 M, Mozambique - 404 M, Zambia - 331 M, Kazakhstan - 304 M, Iraq - 1.08 B, Tanzania - 554 M, with literally Billions of Dollars and they still hate us!!!! Our retired seniors living on a 'fixed income' receive no aid nor do they get any breaks while our government and religious organizations pour Hundreds of Billions of $$$$$$'s and Tons of Food to foreign countries!
children who are shoved aside to make room for the adoption of foreign orphans. AMERICA: a country where we have homeless without shelter, children going to bed hungry, elderly going without needed medication and mentally ill without treatment -etc. YET....................... They have a 'Benefit' for the people of Haiti on 12 TV stations; ships and planes lining up with food, water, tents clothes, bedding, doctors and medical supplies. Imagine if The *GOVERNMENT* gave 'US' the same support they give to other countries. Sad isn't it? 99% of people won't have the guts to forward this. I'm one of the 1% -- I Just Did
$1.00 cut to every $41.00 in taxes, 1:41 ratio. Higher taxes on 77% of households. 3.9 TRILLION in additional deficits. Hollywood to get tax breaks and incentives. Nascar party favors buried in the bill. Millions for rum producers? And no mention of the 46% who don't pay taxes in this country! FIRE them ALL! This Congress is a disgrace! And I hope the above is incorrect...
The Brkln Mafia and Macau vice lord have all their money tied up in GOP POTUS candidates so nitwits like Turd blossom is given the task of this misinformation.
Very large family farms (101,265) grossing over $500,000 Large family farms (86,551) grossing between $250,000 and $500,000 Small family farms (1,925,799) grossing under $250,000
Too far right and too far left are dangerous places. It seems the far right is worse.
[one comment from the article above (in response to a certain 'Constitutional scholar', one prof. seidman) : "I'll go out on a limb here and agree with getting rid of the Constitution then we have no federal government. They will have no legal right to collect one cent of taxes so they will cease to exist and all the crap they are into like the private federal reserve bank. States will have to negotiate with each other. We can work it out. Bring back the Articles of Confederation?"] Here! Here! I'm hearing NYT aren't even allowing citizens to comment on this traitorous piece. Also ref'd at 0-hedge, where I first caught it earlier tonight. Beyond belief!