Fiscal Cliff Avoided. Woopee?
POSTED BY: Geezer
UPDATED: Sunday, June 16, 2024 00:55
VIEWED: 7275
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http://www.bbc.co.uk/news/world-us-canada-20886182
So they raised taxes a bit on the richest people, kept the income tax cuts in place for everyone else, and reduced spending not at all. Does this really seem like a win to anyone, because I can't see it.
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Hello,
Not to be petty, but I'll now be able to file taxes and get returns in a timely fashion. So it's a win for me in the near-term.
I have my doubts that this dysfunctional crowd will be able to negotiate anything in the days ahead, which leaves me with some real concerns over the debt ceiling being used as a lever to move the opposing party.
But by the time that battle is waged, I'll have Tax Returns filed and possibly even a refund en-route to me. It's sad that I need to worry about such routine cycles, but the people in congress left even this much of my financial life in doubt.
--Anthony
Note to Self:
Raptor - woman testifying about birth control is a slut (the term applies.)
Context: http://tinyurl.com/d6ozfej
Six - Wow, isn't Niki quite the CUNT? And, yes, I spell that in all caps....
http://tinyurl.com/bdjgbpe
Wulf - Niki is a stupid fucking bitch who should hurry up and die.
Context: http://tinyurl.com/afve3r9
“The stupid neither forgive nor forget; the naive forgive and forget; the wise forgive but do not forget.” -T. S. Szasz
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Taxes increased for the rich, while spending cuts are still on the table.
Win - Obama!
I do not fear God, I fear the ignorance of man.
A warning to everyone, AURaptor is a known liar.
...and now a Fundie!
http://www.fireflyfans.net/mthread.aspx?tid=53359
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I hate to break it to you...we went over the cliff.
It does explain the lemmings. Some to over the cliff because they want to, some go over because they can't think of an alternative. Most go over without even knowing it.
H
Hero...must be right on all of this. ALL of the rest of us are wrong. Chrisisall, 2012
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@#$(&" Target="_BLANK">MS">@#$(&;$@#%!#$ computer...
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I sure don't see it as a win for Obama, just an avoidance of something worse...for now. The tax increases weren't enough, I'm sure if they'd tried they could have come up with SOME spending cuts, and it just sets us up for more drama in the days to come. Mind you, I'm grateful SOMETHING was worked out that would make for less insanity; and will be more grateful if they come up with something that will lessen the impact of the sequestration, but all in all it's been pretty disgusting to watch. The "fiscal cliff" debate and the last-minute deal it produced have so far resolved nothing except to show that our system is profoundly broken and that radical changes are needed to fix it.
In a nutshell, I agree with this:Quote:
the bill only postpones the forced cuts of sequestration by two months, to precisely the moment the country will be engaged in another ruinous debate about lifting our national debt ceiling to ensure the country can pay its bills. It thus creates a new, even more dangerous fiscal cliff. Next time around, the markets will not be so blasé about congressional brinkmanship if the national credit rating and the stability of a bedrock of the international financial system are at stake. It is an ominous sign for America that the only direction our top officials seem to be able to steer us is into yet another game of chicken.
And I'm DAMNED sick of it! The past few years and what promises to continue for the next four have been things I don't think this country has EVER seen in such a consistent fashion, and the result may well be disastrous for us all going forward.
Also in a nutshell, this is what I despise about House Republicans. One: They believe all of that stuff they tell their conservative audiences, from the town halls to the Sean Hannity remote feed. They ran in 2010 promising never to raise taxes and to take a samurai sword to the budget. Whatever Paul Ryan asked them to cut, they voted to cut. Two: Most of these members come from safe districts where the only threats to re-election are primary challenges or death by natural causes.
The second part is what truly disgusts me. "To hell with the American people and the country, I might get challenged from someone even MORE conservative, so I'd better be even MORE conservative so I can keep my job!" They don't dare say "MY" country, because they don't give a flying fuck about the country, just about their damned jobs!
This puppy will add up to $4 trillion to the debt over the next 10 years. What's "whoopee" about that? Yeah, that's the case because it actually extends and makes permanent more than 80% of the Bush tax cuts (MAKES PERMANENT, remember!!!). It only raises taxes on .06% of Americans...big win, yeah, sure. And HOPEFULLY they'll offset that $4 trillion (and please gawd, more) when they get around to the spending cuts, but what did this mess do, besides not raising our taxes and extending unemployment? Just keep us worrying for a few months, and now after the hours-long primal scream of House Republicans yesterday, they're angrier than ever and, it sounds like, more determined than effort to drag this country through even more horrors.
No. Not a win for anyone, in my opinion.
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It's certainly a win for the economy. Tackling the deficit problem with a series of small steps over time is better than one big austerity bomb.
It's not personal. It's just war.
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Quote:
Originally posted by AnthonyT:
Hello,
Not to be petty, but I'll now be able to file taxes and get returns in a timely fashion. So it's a win for me in the near-term.
Since going over the cliff would not have affected your 2012 tax rates, don't see that this would have been a problem. All the 2012 tax changes are already in the IRS software, tested, and ready to run. And the one place that you can be sure would not be affected by any reductions in force is the processing of tax refunds. Folks involved in that are considered "essential" personnel and don't get laid off. Congress knows better than to mess with the voters' refunds.
Quote:
Note to Self:
Raptor - woman testifying about birth control is a slut (the term applies.)
Context: http://tinyurl.com/d6ozfej
Six - Wow, isn't Niki quite the CUNT? And, yes, I spell that in all caps....
http://tinyurl.com/bdjgbpe
Wulf - Niki is a stupid fucking bitch who should hurry up and die.
Context: http://tinyurl.com/afve3r9
BTW. In the spirit of the new year, could you possibly lose this stuff?
"When your heart breaks, you choose what to fill the cracks with. Love or hate. But hate won't ever heal. Only love can do that."
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Okay, KPO, I agree with that. I just don't think this was a good solution.
As to tax returns being delayed, I offer the following (from FOX, by the way):Quote:
Deal or not, fiscal cliff debate to delay tax refunds
Even if a deal comes, tax professionals say we will all feel at least a short term impact this year. That’s because the debate has delayed the 2012 tax code and forms they need to begin processing returns.
“Without knowing what the forms are going to look like this could cause a delay in the processing of any returns to March of 2013,” said Greg Simons, principal owner of Simons Bitzer & Associates. “For certain taxpayers who expect that refund every year by some time in February, those are going to be delayed.”Read more at http://fox59.com/2012/12/31/deal-or-not-fiscal-cliff-debate-to-delay-t
ax-refunds/#jb35zrT6E2UfTzX8.99 Quote:
Fiscal cliff likely to trigger filing delays for taxpayers
The upcoming tax season is going to be even more unpleasant than usual. And more complicated. And maybe more costly for millions of Americans.
Because of congressional inaction on the Alternative Minimum Tax (AMT) and several other end-of-the-year tax extensions, the IRS already is telling tax preparers that many of its online forms won't be available until March.
Millions of taxpayers will need to request extensions on their income tax deadlines. That will delay tax payments to the state and federal governments -- and delay millions of dollars in refunds to taxpayers.
"One way or another, that money will be sitting in the Treasury rather than doing work for the United States economy," Gray said.
He's been telling his clients this year "that my crystal ball is broken. We should all go to Washington and bring our torches and tar and feathers and say, 'Clean up this mess.' "
In 42 years of preparing tax returns, Putney said, he has never faced such an uncertain tax season.
"We've had mixed-up years in the past but this year it's unprecedented," Putney said. "It's nerve wracking and annoying and frustrating." http://www.mercurynews.com/business/ci_22270433/fiscal-cliff-likely-tr
igger-filing-delays-taxpayers may have to wait longer to file their federal tax returns, because it took so long for lawmakers to reach a deal on the fiscal cliff.
The tax filing season normally begins in January. However, the delay in coming up with a deal to avert the automatic tax increases means the IRS may not be ready in time. It now has to reformat all of its computers to accommodate the new tax rates.
In a statement to Eyewitness News Wednesday, the IRS said it was "assessing what impact [the fiscal cliff deal] will have on this year's filing season." The IRS says it will announce soon when taxpayers can start filing their returns. http://www.wpri.com/dpp/news/12_for_action/call-12-for-action-delay-in
-reaching-fiscal-cliff-deal-could-delay-tax-filing-season
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Quote:
BTW. In the spirit of the new year, could you possibly lose this stuff?
Hello,
You know, I've been hoping that someone involved might show regret or even manage an apology for the terrible things they've said or sentiments they've heralded.
No such luck.
--Anthony
Note to Self:
Raptor - woman testifying about birth control is a slut (the term applies.)
Context: http://tinyurl.com/d6ozfej
Six - Wow, isn't Niki quite the CUNT? And, yes, I spell that in all caps....
http://tinyurl.com/bdjgbpe
Wulf - Niki is a stupid fucking bitch who should hurry up and die.
Context: http://tinyurl.com/afve3r9
“The stupid neither forgive nor forget; the naive forgive and forget; the wise forgive but do not forget.” -T. S. Szasz
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME