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This room is for the discussion of current events,cultural issues and politics especially in relation to Catholic values.

Saint Thomas More was martyred during the Protestant Reformation for standing firm in the Faith and not recognizing the King of England as the Supreme Head of the Church.
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How is this a deal? A temporary bad fix for a few months. Only positive I see is the debt ceiling vote may be a way to check the president's spending. I say, "No Deal" Do I really care if milk prices stay the same at the expense of our taxes supporting milk production? (just to mention one of the issues on the table) Heck I drink soy milk. The "Obama phone" just isn't worth this lousy deal.


Will look forward to your comments.


- Elizabeth

Jan 1st 2013 new

(Quote) Elizabeth-462557 said: How is this a deal? A temporary bad fix for a few months. Only positive I see is the debt cei...
(Quote) Elizabeth-462557 said:

How is this a deal? A temporary bad fix for a few months. Only positive I see is the debt ceiling vote may be a way to check the president's spending. I say, "No Deal" Do I really care if milk prices stay the same at the expense of our taxes supporting milk production? (just to mention one of the issues on the table) Heck I drink soy milk. The "Obama phone" just isn't worth this lousy deal.


Will look forward to your comments.


- Elizabeth

--hide--

Well, let's see. The big impact on me personally is that I'll have to rebudget for the $55.00 per check this will pick from my pocket. Thanks to the AMT deal, I dodged a bullet (I hope); if I didn't it would be a $155/check hit.

The big impact is that most of the new revenues have actually been taken from the low-information bottom 40%, with only the top 1% (> 400K$/yr, mostly productive businessmen) paying the 10% income tax hit.

Investors won't see the increase in capital gains for another 60 days, and we're set for more shenanigans before the last snowfall of the year.

OTOH, since I work in defense, I can breathe a sigh of relief. However, we're still set for another trillion dollar addition to the debt this year, and that much closer to default and soverign debt collapse.

Overall, it's a bad deal. Zero Hedge gives it a D-. I'd say an F.

www.zerohedge.com

Jan 1st 2013 new

(Quote) Elizabeth-462557 said: How is this a deal? A temporary bad fix for a few months. Only positive I see is the debt cei...
(Quote) Elizabeth-462557 said:

How is this a deal? A temporary bad fix for a few months. Only positive I see is the debt ceiling vote may be a way to check the president's spending. I say, "No Deal" Do I really care if milk prices stay the same at the expense of our taxes supporting milk production? (just to mention one of the issues on the table) Heck I drink soy milk. The "Obama phone" just isn't worth this lousy deal.


Will look forward to your comments.


- Elizabeth

--hide--

Was this exercise in fiscal extortion necessary or productive.

www.zerohedge.com

You tell me.

Jan 1st 2013 new
That FICA rate increase is the biggest slap in the face...and that's the one thing that wasn't even discussed in any of the negotiations. Well, there goes another 2% of my income that I'll never see a penny of...
Jan 1st 2013 new

(Quote) Charles-512043 said: That FICA rate increase is the biggest slap in the face...and that's the one thing that wasn't...
(Quote) Charles-512043 said: That FICA rate increase is the biggest slap in the face...and that's the one thing that wasn't even discussed in any of the negotiations. Well, there goes another 2% of my income that I'll never see a penny of...
--hide--



The FICA rate break was only a temporary patch designed solely for the point of getting individuals to spend more when the economy collapsed. It was never designed to be a permanent tax decrease and it had to be extended on a year to year basis. Those who saved that extra cash instead of spending it are right back to where they were in 2010 and will come out ahead, and those who think it came out of nowhere didn't pay attention to what Boehner was proposing because it was on the table.

Jan 1st 2013 new

(Quote) Elizabeth-462557 said: How is this a deal? A temporary bad fix for a few months. Only positive I see is the debt cei...
(Quote) Elizabeth-462557 said:

How is this a deal? A temporary bad fix for a few months. Only positive I see is the debt ceiling vote may be a way to check the president's spending. I say, "No Deal" Do I really care if milk prices stay the same at the expense of our taxes supporting milk production? (just to mention one of the issues on the table) Heck I drink soy milk. The "Obama phone" just isn't worth this lousy deal.


Will look forward to your comments.


- Elizabeth

--hide--


To be honest, when all is said and done with the non-stop begging for more taxes throughout this entire election year, and those on this site who were the Ron Paul backers who either didn't care to take up the vote, or decided to go in some other direction than Romney, well then... I don't have a problem with most of what's in this package. Increased spending has finally been settled. The conservatives didn’t want any taxes and the liberals wanted the moon, so something had to give. If the Tea Party had gotten in line and followed suit and supported Boehner on his backup plan to send the $1M plus option to the senate, we might be looking at a very different outcome right now. As I mentioned in my last comment above, that 2% payroll break was a temporary measure, designed solely for people to "spend" more money when the economy fell, and it had to be extended on a year by year basis. The only thing I really have a problem with is that we continue to pay long-term unemployment for another year, but I'll accept that in return for the permanent patch to the AMT which is years past due and would have hit 34 million additional taxpayers to the tune of several thousand dollars this year. What continues to crack me up is the lib politicians keep saying they gave up too much. How do you give up too much when all you got was more of everything (higher taxes on income, dividends, and inheritance for the wealthy). They lost on nothing except their ability to come back to the cookie jar again before the next mid-term election. Everything related to revenue was an increase over what they currently have today, just not as much as they wanted, not to mention a late Christmas gift of delaying sequestration cuts for two months while they figure out the details. This is plainly obvious with almost all the house democrats falling in behind Boehner in passing this tonight at the expense of most of approximately 2/3 of the republicans. Trust me, I’m not thrilled about it, but it was better than the alternative. The next real fight has to take place within the next six weeks as the debt ceiling is going to be Obama's albatross in regards to where the spending cuts will come from.

Jan 2nd 2013 new
(Quote) Brian-699857 said: The FICA rate break was only a temporary patch designed solely for the point of getting individuals...
(Quote) Brian-699857 said:




The FICA rate break was only a temporary patch designed solely for the point of getting individuals to spend more when the economy collapsed. It was never designed to be a permanent tax decrease and it had to be extended on a year to year basis. Those who saved that extra cash instead of spending it are right back to where they were in 2010 and will come out ahead, and those who think it came out of nowhere didn't pay attention to what Boehner was proposing because it was on the table.

--hide--


I understand that it was temporary. That doesn't make the fact that I'll never receive a penny of it any easier to swallow.
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