Most in US won't be able to escape 'fiscal cliff'

[NorthStar]

Yes. Unfortunately for once it wasn't the normal crazy guy, but someone trained and motivated in the sense of attempting to start a civil war. The average murder spray guys tend to be plain crazy and poor shooters, this guy unfortunately wasn't. But it was bound to happen somewhere, strangely enough it was Norway who got that.

( Not sure how well reported this was abroad, but translated to US terms he first attempted to blow up The Capitol with a home made bomb, hoping to get the President too and when that didn't go according to plan went to plan B - a 'demopublican' resort and shot everyone in sight )

---- The news were worldwide. ...And with the Internet you get all there is to get.
... This (tragic incident) will always remain in the back of my mind; everytime that we have a mass killing here in North America, I cannot stop thinking about that guy in Norway and everything that he did before, during, and after (in court).

 

[DonH50]

Ouch! That means Romney's effective tax rate will go up from around 15% to 20%. Make a donation to the hedgefund managers support fund - they will be hit hard as well. Class warfare!

Yeah, and a lot of people who do not make nearly so much but have worked many years to get there. IMO Obama has been the biggest contributor to class warfare in a long time. When did it become so evil to make money in America?

The paper does not make clear how the level is decided; total income or dividend income. Since it looks like Congress will be mucking around a while longer I don't feel a strong need to research too hard; not like I can do anything about it.

 

[edorr]

---- The news were worldwide. ...And with the Internet you get all there is to get.
... This (tragic incident) will always remain in the back of my mind; everytime that we have a mass killing here in North America, I cannot stop thinking about that guy in Norway and everything that he did before, during, and after (in court).

There is a big difference between domestic terrorism like what happened in Norway and random insane acts of violence. The Norway killings were far more similar to the Oklahoma city bombing (168 dead) than the Newtown shooting.

 

[edorr]

Yeah, and a lot of people who do not make nearly so much but have worked many years to get there. IMO Obama has been the biggest contributor to class warfare in a long time. When did it become so evil to make money in America?

The paper does not make clear how the level is decided; total income or dividend income. Since it looks like Congress will be mucking around a while longer I don't feel a strong need to research too hard; not like I can do anything about it.

My heart goes out to couples collecting over $250K in dividends that will now be taxed at 20% - the innocent victims of Obama's class warfare.

Tell you what. Obama promised me a tax hike. At the new $450K treshold I don't qualify anymore. I am dissappointed.

When did it become class warfare for someone makeing $450K to pay marginal taxes of 40% (among the lowest on all developed countries). By this criteria, there are enless highly respected Republican presidents that out class-warriored Obama.

 

[rbbert]

Don, when unemployment is high (and it was recently even higher) but executives (of companies that are losing money) still collect high salaries plus bonuses, and bankers (foreclosing on mortgages) do the same, making money has an evil cast to many observers.

 

[Frank750]

Actually, according to our paper, the dividend and capital gains rates go up for individuals over $200k and couples over $250k.

This is part of the Obamacare bill which automatically kicked in yesterday. It has nothing to do with last nights vote.

 

[Mosin]

This entire affair is nothing more than smoke and mirrors. Nothing is fixed. It's just a "feel good" deal. At the end of the day, we all get screwed.

 

[NorthStar]

-- But at least we bought some time before the next recession, instead of falling back right into it.

 

[FrantzM]

Hi

Somewhat amused that a threshold of $450K to pay 20% taxes makes it a Class warfare . Meanwhile the gap between the rich and the poor is widening in America the highest since 1967. And darn looks like this year I would not qualify for the hike
I find it increasingly disturbing how insular people are becoming in the USA. To us in the USA the current situation has nothing to do with the current geopolitical circumstances. It seem the USA are not facing more challenges than ever in their history for example: Scary statistics such as the facts that we are ranked 23 rd in Math and Science and the USA spend the most for Health Care yet our quality of Health care ranks 38th according to the WHO (World Health Organization) do not seem to register and are not seen as threat to our pre-eminence or the nation's prosperity. It seems that left to themselves the rich will turn their collective well meaning greed off, turn toward helping those much less fortunate and address the serious problems of a country facing increasing competition in the World. Such notions as the BRIC countries ( Brazil, Russia, China and India) are constructs of the Far Left that we can easily "solve" ...

And for my very own education. What are the "spending cuts" ? What are the services to be be cut... Maybe the Public Libraries? The Public Parks, Mental Health to the truly poor? I sincerely would like someone to identify some of these cuts .. Would like to also see alternatives to bring in revenues to balance the deficit in a sensible fashion.

 

[Frank750]

Hi

Somewhat amused that a threshold of $450K to pay 20% taxes makes it a Class warfare . Meanwhile the gap between the rich and the poor is widening in America the highest since 1967. And darn looks like this year I would not qualify for the hike
I find it increasingly disturbing how insular people are becoming in the USA. To us in the USA the current situation has nothing to do with the current geopolitical circumstances. It seem the USA are not facing more challenges than ever in their history for example: Scary statistics such as the facts that we are ranked 23 rd in Math and Science and the USA spend the most for Health Care yet our quality of Health care ranks 38th according to the WHO (World Health Organization) do not seem to register and are not seen as threat to our pre-eminence or the nation's prosperity. It seems that left to themselves the rich will turn their collective well meaning greed off, turn toward helping those much less fortunate and address the serious problems of a country facing increasing competition in the World. Such notions as the BRIC countries ( Brazil, Russia, China and India) are constructs of the Far Left that we can easily "solve" ...

And for my very own education. What are the "spending cuts" ? What are the services to be be cut... Maybe the Public Libraries? The Public Parks, Mental Health to the truly poor? I sincerely would like someone to identify some of these cuts .. Would like to also see alternatives to bring in revenues to balance the deficit in a sensible fashion.

Not sure what you meant here regarding the tax rate on earners of more than $450k. The actual federal tax rate will rise to 39.6%. That's in addition to, at least in my state, a 5% state income tax, which doubled last year, an ever increasing property tax in spite of crumbling housing valuation and a sales tax rate of 10%.

But, I'm sure that's still not enough for the majority of this country who pay a tax rate of 0.0%.

 

[A.wayne]

One of the wisest countries would be norway i think , the state puts all non used taxes and oil/gas income in a state fund , which now has something like 125.000 euros per person in reserve .
They have no debt only surplus , plus they stayed wisely out of this EU swamp

Small population big fund , wouldnt work for 330million people ..

 

[A.wayne]

The Greeks are a lot smarter. They have no oil, but they borrowed from the Norwegian sovereign wealth fund, which took a 53% write-off on their holdings of Greek bonds. The climate is also a lot better in Greece, and the booze is a lot cheaper.

Lol ...

 

[A.wayne]

There is a big difference between domestic terrorism like what happened in Norway and random insane acts of violence. The Norway killings were far more similar to the Oklahoma city bombing (168 dead) than the Newtown shooting.

Dont Forget Ft.hood , that reprobate was still being paid by the military up to a few months ago, what great leadership we have......!

The plebs always get the leaders they deserve ......

 

[A.wayne]

Obama is a big race and class master, Bator , Edorr .....

Race and class tension has been on the rise since the start of his Presidency and he will get 8 more years to solidify his position. After the sandy hook massacre, our current regime came out strong on gun control , mark you , this is the same regime responsible for illegally running guns into Mexico , killing a lot more than Sandy Hook ...

The Irony ...

Whats next , Drug lords financing rehab clinics ........!!!!

My heart goes out to couples collecting over $250K in dividends that will now be taxed at 20% - the innocent victims of Obama's class warfare.

Tell you what. Obama promised me a tax hike. At the new $450K treshold I don't qualify anymore. I am dissappointed.

When did it become class warfare for someone makeing $450K to pay marginal taxes of 40% (among the lowest on all developed countries). By this criteria, there are enless highly respected Republican presidents that out class-warriored Obama.

 

[Mosin]

Hi

Somewhat amused that a threshold of $450K to pay 20% taxes makes it a Class warfare . Meanwhile the gap between the rich and the poor is widening in America the highest since 1967. And darn looks like this year I would not qualify for the hike
I find it increasingly disturbing how insular people are becoming in the USA. To us in the USA the current situation has nothing to do with the current geopolitical circumstances. It seem the USA are not facing more challenges than ever in their history for example: Scary statistics such as the facts that we are ranked 23 rd in Math and Science and the USA spend the most for Health Care yet our quality of Health care ranks 38th according to the WHO (World Health Organization) do not seem to register and are not seen as threat to our pre-eminence or the nation's prosperity. It seems that left to themselves the rich will turn their collective well meaning greed off, turn toward helping those much less fortunate and address the serious problems of a country facing increasing competition in the World. Such notions as the BRIC countries ( Brazil, Russia, China and India) are constructs of the Far Left that we can easily "solve" ...

And for my very own education. What are the "spending cuts" ? What are the services to be be cut... Maybe the Public Libraries? The Public Parks, Mental Health to the truly poor? I sincerely would like someone to identify some of these cuts .. Would like to also see alternatives to bring in revenues to balance the deficit in a sensible fashion.

Curiously, all that rich and poor gap was made possible through bi-partisan support. Imagine that.

Services to be cut? Start with entire departments, and go from there. Homeland Security, Dept. of Education, Dept. of Energy, etc., etc. Cut the military by half while you are at it.

 

[NorthStar]

-- ...Or apply for a job on Wall Street. :b

 

[A.wayne]

I could give this a shot (cuts , corruption, et al ) but having a few friends over for a listening session and for what anyway, i just hate the intellectually dishonesty which is always a part of such discussions ...

Sadly our current zeitgeist ...

 

[edorr]

I could give this a shot (cuts , corruption, et al ) but having a few friends over for a listening session and for what anyway, i just hate the intellectually dishonesty which is always apart of such discussions ...

Sadly and current zeitgeist ...

The zeitgeist is indeed to dismiss points of view different from your own as "intellectually dishonest". Not in the least conducive to constructive debate.

 

[A.wayne]

Please , point out my dismissal or better the "constructive debate " you speak of, i must have missed it ...

 

[NorthStar]

-- For the people affected by hurricane Sandy; well, that's just very very double sad.

Thank you Republicans (congress)! ...They didn't allow to vote on this (wasn't even on the table).

_________________

But the stock markets; Dow Jones and NASDAQ did quite well.