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rojerono
Happiest.
Member since 8/06 13803 total posts
Name:
Jeannie
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Fiscal Cliff.. is anyone worried about this?
I swear.. my stomach is just KILLING me thinking about what's to come if these partisan knuckleheads can't strike a deal NOW.
Is anyone else remotely worried or am I the only one panicking?
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Posted 12/27/12 2:39 PM  |
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beachgirl13
Mommy to 3 boys!
Member since 5/05 4114 total posts
Name:
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Re: Fiscal Cliff.. is anyone worried about this?
It definitely worries me. Hopefully they will come to an agreement, but it is not looking too promising!
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| Posted 12/27/12 2:51 PM |
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DumpsterBaby
My compass when I'm lost
Member since 5/11 2210 total posts
Name:
My anchor when I get tossed
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Fiscal Cliff.. is anyone worried about this?
I don't know if I should be worried or not; I don't quite understand the fiscal cliff situation though I have tried researching it.
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| Posted 12/27/12 2:54 PM |
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DumpsterBaby
My compass when I'm lost
Member since 5/11 2210 total posts
Name:
My anchor when I get tossed
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Fiscal Cliff.. is anyone worried about this?
I don't know if I should be worried or not; I don't quite understand the fiscal cliff situation though I have tried researching it.
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| Posted 12/27/12 2:54 PM |
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rojerono
Happiest.
Member since 8/06 13803 total posts
Name:
Jeannie
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Re: Fiscal Cliff.. is anyone worried about this?
The house is adjourned until Sunday night.. that's NOT a good sign at all.
We're barely making it as it is.. if this happens I'm not sure what we'll do..
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| Posted 12/27/12 2:54 PM |
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rojerono
Happiest.
Member since 8/06 13803 total posts
Name:
Jeannie
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Re: Fiscal Cliff.. is anyone worried about this?
Posted by DumpsterBaby
I don't know if I should be worried or not; I don't quite understand the fiscal cliff situation though I have tried researching it.
It's not good. No matter WHO you are, your taxes will increase. Average of over 3000 more paid in taxes by employees.. combined with higher taxes and less incentives for employers.. disasterous.
Spending (on defense, medicare, social security, etc.. ) all gets slashed.
Here's a recent (and decent) overview:
What Happens Now?
Message edited 12/27/2012 2:59:16 PM.
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| Posted 12/27/12 2:56 PM |
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ModDot
PUMPKIN ALL THE THINGS
Member since 8/11 2196 total posts
Name:
Trissy
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Fiscal Cliff.. is anyone worried about this?
Yes, very
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| Posted 12/27/12 3:05 PM |
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Xelindrya
Mommy's little YouTube Star!
Member since 8/05 14470 total posts
Name:
Veronica
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Fiscal Cliff.. is anyone worried about this?
I thought it was taken most wanted the Bush Era tax breaks to fail and disappear? Now people don't? Could have swore people hated all things Bush.
And I really want Obama to keep that stupid holiday pay crap. I thought it was gone. It did NOT help me one single bit. Take home an extra $1000 a year? BS!!! You have to Pay up when tax time comes around and that was NOT expected and NOT worth the $83 a month. You piece mail me some $1000 supposedly but you want me to pay you a full chunk by April 15th. With what money exactly? I actually STOPPED paying federal tax so that I could PAY my taxes.
Fiscal cliff *IS* worrisome, but I sort of WANT us to fall off. Maybe then REAL progress can be made. As much as I hear "Im willing to pay out of pocket for healthcare" well *I* am willing to suffer to put us back on the RIGHT track. I've been putting some money aside and waiting.
They are both bluffing. Equally dumb on both sides if you ask me.
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| Posted 12/27/12 3:09 PM |
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JenniferEver
The Disney Lady
Member since 5/05 18163 total posts
Name:
Jennifer
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Re: Fiscal Cliff.. is anyone worried about this?
I'm not worried. They don't need to strike a deal before January 1. They can always enact something retroactive, and they absolutely will. This is all political posturing. it absolutely sucks that people's lives have to hang in the balance for it, but such is the way of the world today. I think the Republicans have more to lose here. If they allow such a big tax increase on all parties, they're going to be in HUGE trouble from those who support them. A deal will be struck
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| Posted 12/27/12 3:18 PM |
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rojerono
Happiest.
Member since 8/06 13803 total posts
Name:
Jeannie
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Re: Fiscal Cliff.. is anyone worried about this?
Posted by JenniferEver
I'm not worried. They don't need to strike a deal before January 1. They can always enact something retroactive, and they absolutely will. This is all political posturing. it absolutely sucks that people's lives have to hang in the balance for it, but such is the way of the world today. I think the Republicans have more to lose here. If they allow such a big tax increase on all parties, they're going to be in HUGE trouble from those who support them. A deal will be struck
So you honestly believe that they will strike a deal at some point that is amenable for all parties? You think this partisan behavior is just a big game of chicken?
You might be right.. you probably are.. but I guess I'm a pessimist and I lack faith in the ability of our government to come together and do what is best for the country as a whole.
Even if they enact something retroactive (and even that would have to happen fairly quickly), the actual deadline date passing can have massive repercussions on the financial markets. And small / midsized businesses are already fighting for survival.. spooking them like this could lead to widespread layoffs.
I'm just not feeling very good right now. I need these guys to get serious .. FAST.
Message edited 12/27/2012 3:31:25 PM.
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| Posted 12/27/12 3:30 PM |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: Fiscal Cliff.. is anyone worried about this?
Yup - and I'm extremely annoyed about it.
I didn't receive a pay increase for 2013. Due to the expiration of the payroll tax reduction, I'll already be taking home 2% less than last year come 1/1. May not sound like a lot, but last year my salary increase was 2%, so in effect I had a 4% raise.
DH and I will probably end up paying the AMT also.
I'm not a happy camper.
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| Posted 12/27/12 3:39 PM |
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SusiBee
. . . . .
Member since 3/09 8268 total posts
Name:
S
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Re: Fiscal Cliff.. is anyone worried about this?
I feel anxious because I'm not yet sure how this will impact us financially.
DH and I don't have children, but we are two older folks who are starting to focus on our retirement and trying to anticipate our future needs.
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| Posted 12/27/12 3:55 PM |
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Erica
LIF Adult
Member since 5/05 11767 total posts
Name:
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Re: Fiscal Cliff.. is anyone worried about this?
Part of me wants it to happen - to rip it off like a band aid. But the other half doesn't trust wall street to not freak out.
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| Posted 12/27/12 3:59 PM |
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juanvi
Get Out!
Member since 10/06 4463 total posts
Name:
Christina
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Re: Fiscal Cliff.. is anyone worried about this?
I'm so worried plain sick of feeling nervous about going on with my life. This is just making it worse. I want a house big enough for my family. I don't want it to be a reason I don't try for another child. The world we live in now is so complicated.
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| Posted 12/27/12 4:04 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Fiscal Cliff.. is anyone worried about this?
Yeah I am, but it's out o f my hands so m trying not to worry too much or I will give myself anxiety
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| Posted 12/27/12 4:06 PM |
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JenniferEver
The Disney Lady
Member since 5/05 18163 total posts
Name:
Jennifer
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Re: Fiscal Cliff.. is anyone worried about this?
Posted by rojerono
Posted by JenniferEver
I'm not worried. They don't need to strike a deal before January 1. They can always enact something retroactive, and they absolutely will. This is all political posturing. it absolutely sucks that people's lives have to hang in the balance for it, but such is the way of the world today. I think the Republicans have more to lose here. If they allow such a big tax increase on all parties, they're going to be in HUGE trouble from those who support them. A deal will be struck
So you honestly believe that they will strike a deal at some point that is amenable for all parties? You think this partisan behavior is just a big game of chicken?
You might be right.. you probably are.. but I guess I'm a pessimist and I lack faith in the ability of our government to come together and do what is best for the country as a whole.
Even if they enact something retroactive (and even that would have to happen fairly quickly), the actual deadline date passing can have massive repercussions on the financial markets. And small / midsized businesses are already fighting for survival.. spooking them like this could lead to widespread layoffs.
I'm just not feeling very good right now. I need these guys to get serious .. FAST.
I think part of the problem is that businesses, consumers, and the markets get "spooked" too easily. It's not as though we fall off the fiscal cliff and immediately it's bedlam and we're all broke. Most of the effects wouldn't be felt for months or even over a year. Enacting something retroactive would mean there is very little actual impact.
I do think they will come to a compromise. I think there is a LOT of posturing going on. Both sides have something big to lose. The democrats will lose government benefits, but I think the republicans have way more to lose in terms of tax increases since they campaign SO heavily on taxes.
If this doesn't get passed there will be such an anti-incumbent feeling in the mid terms that a lot of these SOBs will be out of a job. It's going to happen. I really don't have ANY doubt that they will come to a deal.
But that's also my personality. I always think everything is going to be ok
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| Posted 12/28/12 1:15 PM |
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babyvontheway
LIF Adolescent
Member since 6/12 568 total posts
Name:
Jen
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Re: Fiscal Cliff.. is anyone worried about this?
I think it is natural to worry about it. Unfortunately there is nothing that we can do about it now. We just have to wait and hope they come to a compromise/ settlement. This is one of those political issues that each side blames each other and the resolution is just going to be that we suffer.
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| Posted 12/28/12 2:14 PM |
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Goldi0218
My miracles!
Member since 12/05 23902 total posts
Name:
Leslie
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Re: Fiscal Cliff.. is anyone worried about this?
My OB's name is Cliff. After delivering my two kids, Id say he's damn fiscal. Cute too.
ETA : AND he went to med school in the US and hopefully doesnt have loans to pay so he can send HIS 4 kids to school and they don't have to be up to their arses in debt forever. Eh he's a rich doctor right? They make money now right?
Message edited 12/28/2012 2:38:14 PM.
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| Posted 12/28/12 2:35 PM |
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cateyemm
Twins!
Member since 7/10 8027 total posts
Name:
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Re: Fiscal Cliff.. is anyone worried about this?
Posted by Goldi0218
My OB's name is Cliff. After delivering my two kids, Id say he's damn fiscal. Cute too.
ETA : AND he went to med school in the US and hopefully doesnt have loans to pay so he can send HIS 4 kids to school and they don't have to be up to their arses in debt forever. Eh he's a rich doctor right? They make money now right?
I think we have the same doctor lol
Very cute
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| Posted 12/28/12 3:24 PM |
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tara73
carseat nerd
Member since 11/09 3669 total posts
Name:
Buttercup
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Fiscal Cliff.. is anyone worried about this?
Considering I'm one of the "long term unemployed" who's unemployment will abruptly end?
Granted, the unemployment is a portion of what I used to make but that paltry sum helps to put food on the table and keep a roof over our heads. Yeah, I thought I would have found a job by now but I haven't been able to.
So, yeah. I'm worried. I worry about feeding our children. We've burned through our savings just trying to keep ourselves afloat. We were still recovering from other things when all of this hit. We had to leave LI because DH couldn't find a job there. Didn't think I'd have any issues finding work, I never have in the past. I'm "overqualified" for jobs I've always worked and hell, I can't even get a job at Target or BJ's!!!!
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| Posted 12/28/12 3:26 PM |
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rojerono
Happiest.
Member since 8/06 13803 total posts
Name:
Jeannie
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Re: Fiscal Cliff.. is anyone worried about this?
Posted by tara73
Considering I'm one of the "long term unemployed" who's unemployment will abruptly end?
Granted, the unemployment is a portion of what I used to make but that paltry sum helps to put food on the table and keep a roof over our heads. Yeah, I thought I would have found a job by now but I haven't been able to.
So, yeah. I'm worried. I worry about feeding our children. We've burned through our savings just trying to keep ourselves afloat. We were still recovering from other things when all of this hit. We had to leave LI because DH couldn't find a job there. Didn't think I'd have any issues finding work, I never have in the past. I'm "overqualified" for jobs I've always worked and hell, I can't even get a job at Target or BJ's!!!!
I get this completely.
My husband's unemployment will end and despite the fact that he applies for 10-20 jobs a day he hasn't even scored an interview in a looong time. And the Union can't help - they have him idling on a list for over a year now).
And the 1600 he gets isn't a lot.. but it is what pays the grocery bills and the gas bills and a few other small items.
I don't know how much further I can possibly stretch my own income before we simply are unable to make it work at all.
Maybe optimism is just easier when it doesn't effect you directly and impact you immediately.
Message edited 12/28/2012 3:38:47 PM.
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| Posted 12/28/12 3:38 PM |
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jellybean78
:)
Member since 8/06 13103 total posts
Name:
Mommy
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Fiscal Cliff.. is anyone worried about this?
Yup...Wall St will go bonkers and it will affect us all.
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| Posted 12/28/12 3:41 PM |
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tara73
carseat nerd
Member since 11/09 3669 total posts
Name:
Buttercup
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Re: Fiscal Cliff.. is anyone worried about this?
Posted by rojerono
Posted by tara73
Considering I'm one of the "long term unemployed" who's unemployment will abruptly end?
Granted, the unemployment is a portion of what I used to make but that paltry sum helps to put food on the table and keep a roof over our heads. Yeah, I thought I would have found a job by now but I haven't been able to.
So, yeah. I'm worried. I worry about feeding our children. We've burned through our savings just trying to keep ourselves afloat. We were still recovering from other things when all of this hit. We had to leave LI because DH couldn't find a job there. Didn't think I'd have any issues finding work, I never have in the past. I'm "overqualified" for jobs I've always worked and hell, I can't even get a job at Target or BJ's!!!!
I get this completely.
My husband's unemployment will end and despite the fact that he applies for 10-20 jobs a day he hasn't even scored an interview in a looong time. And the Union can't help - they have him idling on a list for over a year now).
And the 1600 he gets isn't a lot.. but it is what pays the grocery bills and the gas bills and a few other small items.
I don't know how much further I can possibly stretch my own income before we simply are unable to make it work at all.
Maybe optimism is just easier when it doesn't effect you directly and impact you immediately.
I didn't get it until I got here, truly. I apply for jobs in my field, out of my field, full time, part time.
I always thought "oh of course retail store XYZ would hire someone reliable and dependable!" I thought my consistency in my employment would be a benefit, apparently it's a liability.
No. They won't. They'd rather hire the lady with the shoddy work history that is likely to stay over the man or woman who has had a career. They'd rather hire Joe High School than me. I'm a "flight risk".. meaning the minute there is a job that I find to be a better fit, I am going to bolt. Undereducated, shoddy work history Mary isn't going anywhere unless they fire her..............
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| Posted 12/28/12 3:48 PM |
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Re: Fiscal Cliff.. is anyone worried about this?
I admit I walk around with my head in the sand a lot of the time with anything politics related.
With that said, I also think that a lot of this stuff is blown up by the media.
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| Posted 12/28/12 4:02 PM |
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MrsMick
Baby #2 debuts in March 2016!
Member since 9/09 1977 total posts
Name:
Michele
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Re: Fiscal Cliff.. is anyone worried about this?
This is what is expected to happen.... The average person making approx 50K a year could see a deduction of 1500 per year from earning...
Someone making between 75K-100K could see approx 3500 per year in deductions. Do the math now and see what that is per month.
It's ALOT.
Now, our lovely President was on vacation in Hawaii not really giving a damn about this.... It is to expire January 1st. If they don't do something, the average American worker is going to see about 2K in deductions per year.
Nice, real nice. He should have been working on this instead of waiting til the last minute to tackle this.
Oh, and you bet your life I miss GWB. It's because of HIM we have been saving on taxes. Ever since O became President, I have lost my job, got a new job where I make MUCH less and our insurance premiums went up about 20%. Now our taxes are going to SKYROCKET because this jacka__ hasn't done shit about it.
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| Posted 12/28/12 4:49 PM |
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