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Fiscal Cliff

Wednesday, January 2, 2013

Do You Like the Fiscal Cliff Deal?

The agreement reached between the White House and Congress doesn't address spending cuts and leaves another potential debt limit showdown on the table. It also increases taxes on income over $400,000. Is this a deal that works for you?

After a marathon holiday negotiation session, after grumbling by liberal senators and after a near-revolt by conservative representatives, the fiscal cliff deal was approved by the House of Representatives late Tuesday night.  The bargain will increase taxes on income above $450,000 for families, increase capital gains taxes, permanently fix the alternative minimum tax, change the estate tax and provide some changes in deductions. It also will extend unemployment benefits, earned income tax credits and other tax breaks for the working class. The Washington Post has a cheat sheet with all of the details. Middle class taxpayers will still see a smaller paycheck in 2013; The payroll tax cut was not preserved as part of the fiscal cliff deal. …

J.Yuma

6:03 pm on Tuesday, January 15, 2013

(SALEM) – Today, Tea Party Patriots, the nation’s largest tea party organization, responded to President Obama’s press conference on the debt ceiling. “Our President rails against not paying our debts as a country, but refuses again and again to take any meaningful steps to reduce our debts—such as cutting spending,” said Ken Novack of the Salem Tea Party. “It is the President who is holding our …   more ›

Saturday, December 1, 2012

YOUR TURN: The Fiscal Cliff — What Deal Would You Cut?

Massachusetts Democrats in Congress want to avoid cuts in benefits as part of any deal, but proposals such as raising the eligibility age for Medicare are still on the table. What would you do?

As Congress negotiates a deal to avoid the so-called "fiscal cliff" on Jan. 1, Massachusetts' congressional representatives have voiced their opposition to any cuts in benefits such as Social Security, Medicare and Medicaid, the Boston Globe reports. However, there are proposals still on the table that would change those benefit programs, including linking Social Security benefits to a more conservative inflation index that would slightly reduce annual increases, or raising the eligibility age for Medicare from 65 to 67. The Globe reported that while the Bay State's legislators were united against changes to Social Security, there's some wiggle room on Medicare. Rep. Ed Markey opposes raising the Medicare eligibility age; Rep. Michael …

Carl Reppucci

10:08 pm on Monday, December 3, 2012

Look at the Federal Poverty Levels - that even a single person making $33000 is considered 300% above poverty level but take someone single out of college with $100000 in debt, give him/her a $60000 job and with loans, apt rent, car - they are now in poverty. Good luck! How much in taxes? If you don't control the towns and the state - remember they get federal money - your tax dollar - then cut …   more ›

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