CBS: It's Official: Deal Reached On "Fiscal Cliff"

Posted in the Minneapolis Forum

Comments
1 - 18 of 18 Comments Last updated Jan 2, 2013
Lowell

Minneapolis, MN

|
Report Abuse
|
Judge it!
|
#1
Dec 31, 2012
 
CBS: It's Official: Deal Reached On "Fiscal Cliff"

Source: CBS

As revelers in Times Square and cities and towns across the country wait for the ball to drop to ring in the new year, politicians in Washington have announced that a ball is not likely to drop on the average taxpayer. Negotiators have come to an agreement on the so-called "fiscal cliff" - and with less than three hours to spare, CBS News has confirmed.

Vice President Joe Biden traveled to Capitol Hill to brief Senate Democrats on the details of the deal; both Senate Majority Leader Harry Reid, D-Nev., and House Minority Leader Nancy Pelosi, D-Calif., have signed off on the agreement, White House and congressional sources told CBS News' Chief White House Correspondent Major Garrett.

Now that lawmakers have settled on a deal, it's unclear when the Senate will vote but it's expected that if it passes, the House will vote tomorrow at the earliest.

What this means is that although the country will technically go over the "cliff" at midnight, the agreement - if passed by both houses of Congress - guarantees any detrimental impact from the "cliff" will be avoided, even if a vote happens after midnight, as language will likely be added to the final legislation that would make the changes retroactive.

Here are the known details of the deal:

Tax rates: current tax rates will be extended for all wage earners making below $400,000 and couples making below $450,000.

This was a key concession for both Republicans and Democrats. Democrats wanted the threshold for tax increases to rest at $250,000 and Republicans didn't want marginal tax rates to increase for anyone.

The automatic spending cuts under the sequester will be delayed for two months. The cost of continuing current federal spending levels will be offset by revenue increases and some spending cuts. The spending cuts will come half from defense and half non-defense accounts.

The two-month window is to allow Congress and the White House to come up with a larger deal on spending cuts, leading to another (though smaller) "fiscal cliff." Democrats see this deal as a victory because Republicans had objected to using any new tax revenue to offset the loss of sequester spending cuts, reports Garrett.

The estate tax: it was set to increase from rom 35 percent to 55 percent in 2013. Instead, the compromise sets the new rate at 40 percent with the first $5 million worth of property exempt from being taxed.

Capital gains tax: Capital gains and dividend tax rates will increase from 15 to 20 percent.
Alternative Minimum Tax: a permanent fix to the tax that would hit middle class families
"Doc Fix": doctors will be shielded from a massive reimbursement gap for treating Medicare patients.

Unemployment benefits: unemployed workers will receive their benefits which expired over the weekend.

Renewable energy tax credit: the tax credit for renewable energy companies will be extended for another year.

While the extension of unemployment benefits and the Medicare "doc fix" cost money, and revenue will be lost due to a fix in the Alternative Minimum Tax, the package will still increase the federal government's receipts. The total package will add $600 billion to federal coffers.

Read more: http://www.cbsnews.com/8301-250_162-57561465/...
More NRA Carnage

Minneapolis, MN

|
Report Abuse
|
Judge it!
|
#2
Jan 1, 2013
 

Judged:

1

1

1

Tax anytone who makes more than $100,000 at 90%. Then we will have plenty to pay for the social programs needed due to the Republicans screwing over anyone not rich.
non-starter

Saint Paul, MN

|
Report Abuse
|
Judge it!
|
#3
Jan 1, 2013
 

Judged:

1

1

1

More NRA Carnage wrote:
Tax anytone who makes more than $100,000 at 90%. Then we will have plenty to pay for the social programs needed due to the Republicans screwing over anyone not rich.
Basically, tax anyone that makes more than you make. Democratic definition of rich = "Anyone that makes more than I do".
non-starter

Saint Paul, MN

|
Report Abuse
|
Judge it!
|
#4
Jan 1, 2013
 

Judged:

1

1

1

More NRA Carnage wrote:
Tax anytone who makes more than $100,000 at 90%. Then we will have plenty to pay for the social programs needed due to the Republicans screwing over anyone not rich.
Democratic definition of sacrifice = "Giving up that second job to be able to qualify for some social program".
Amused Slew

Seattle, WA

|
Report Abuse
|
Judge it!
|
#5
Jan 2, 2013
 

Judged:

1

1

1

So, you're saying you're wealthy ??? LMNAOROTFU~! NOW THAT'S FUNNY ~!
More barry soetoro Carnag

United States

|
Report Abuse
|
Judge it!
|
#6
Jan 2, 2013
 

Judged:

1

1

1

More NRA Carnage wrote:
Tax anytone who makes more than $100,000 at 90%. Then we will have plenty to pay for the social programs needed due to the Republicans screwing over anyone not rich.
the boy muslim will have to CUT billions in the next 60 days - you have to STOP spending other peoples money - that is the problem with a SOCIALIST dictator like barry.
Amused Slew

Seattle, WA

|
Report Abuse
|
Judge it!
|
#7
Jan 2, 2013
 

Judged:

1

1

1

Poor soapy dope.... Nothing to write, so you spew crapo...
Curious

Saint Paul, MN

|
Report Abuse
|
Judge it!
|
#8
Jan 2, 2013
 

Judged:

1

1

1

What's carnag? Is that when your car pesters you to do something?

Muslim, socialist, dictator...

Not too good with definitions are you?
Demokrat Rules

Grantsburg, WI

|
Report Abuse
|
Judge it!
|
#10
Jan 2, 2013
 
Amused Slew wrote:
Poor soapy dope.... Nothing to write, so you spew crapo...
Dangerous Sociopath,

As a poster that is either intoxicated or under medicated, why does it not bother you to come on here and post nothing but your "Projections" to other posters?

Everybody here knows how fauched up you are as a Defective Human Being. How come you and your Multiple Personalities are the only ones that consistently avoid ANY conversation that Threads are based on, and simply "work out your Mommy and Daddy issues" with strangers by "Projecting" yourself onto them with the variety of abuses you employ like a child on the Playground?

Do you "Feel" that nobody really knows what you are?

Your dangerous nature as a Psychopath needs to be addressed by Law Enforcement Professionals before you hurt others that may have the displeasure of contact with you outside your Fantasy World on Topix!
Amused Slew

Seattle, WA

|
Report Abuse
|
Judge it!
|
#11
Jan 2, 2013
 

Judged:

1

1

1

Nothing to write, so you spew crapo....
Demokrat Rules

Grantsburg, WI

|
Report Abuse
|
Judge it!
|
#12
Jan 2, 2013
 
Amused Slew wrote:
Nothing to write, so you spew crapo....
Genetic Defective,

A lot of things "Seems" to you.....and ONLY You!

Seriously, Why do you bother?

Do the Boys in the White Suits at your Home stop you from abusing BOI's there?

Is that why they let you access a Computer in The Day Room to abuse strangers and humiliate yourself because of your Personality Disorders?

Trust us, you are a really fauched up human being, and you will never find Peace here.

Go to the Light. You will not be missed here on Earth.

Ask the Boys in the White Suits to help you..... watch how receptive they will be in accommodating your request of them!
More barry soetoro Carnag

United States

|
Report Abuse
|
Judge it!
|
#14
Jan 2, 2013
 

Judged:

1

1

1

Curious wrote:
What's carnag? Is that when your car pesters you to do something?
Muslim, socialist, dictator...
Not too good with definitions are you?
that is what liberals get when they follow a MUSLIM - or better defined as barry soetoro. Question why would he change the Christian name to ( barack hussein obama ) aka MUSIM if he was not one ? Answer that one liberal lisa -

Amused Slew

Seattle, WA

|
Report Abuse
|
Judge it!
|
#15
Jan 2, 2013
 

Judged:

1

1

1

Why use U-Tube, it's no better, than your moronic posts, birther putz ...

Since: Oct 08

Location hidden

|
Report Abuse
|
Judge it!
|
#16
Jan 2, 2013
 

Judged:

1

1

1

More NRA Carnage wrote:
Tax anytone who makes more than $100,000 at 90%. Then we will have plenty to pay for the social programs needed due to the Republicans screwing over anyone not rich.
For the past 8 years you libs have cursed and bashed conservatives on every front, However, without Bush and the "Bush Tax Cuts" You would all be pissing in your pant today. Thank Mr Boehner!! Without a conservative, Justice Roberts, you would all be crying about health care! OH, and that Obama tax cut, the payroll deduction rollback, shoved right back down your throats starting today!! KMA Liberal entitlement a** holes
Amused Slew

Seattle, WA

|
Report Abuse
|
Judge it!
|
#17
Jan 2, 2013
 

Judged:

1

1

1

SO, you visit my city frequently, but couldn't make a dojo meeting UNTIL YOUR BALLS DESCEND ?? Funny, you've been claiming you left, but now you're just ALWAYS frightened, huh ??? LMAOROTFU~!
More barry soetoro Carnag

United States

|
Report Abuse
|
Judge it!
|
#18
Jan 2, 2013
 

Judged:

1

1

1

Amused Slew wrote:
Why use U-Tube, it's no better, than your moronic posts, birther putz ...
the truth hurts - liberals are going to have to face the FACT he is a muslim. And remember what religion tried to destroy America on 911 ? clue it was not Christians, but muslims.
Star of David

United States

|
Report Abuse
|
Judge it!
|
#19
Jan 2, 2013
 
Amused Slew wrote:
Why use U-Tube, it's no better, than your moronic posts, birther putz ...
- the truth hurts ! Liberals have to realize they are following a muslim.
Amused Slew

Seattle, WA

|
Report Abuse
|
Judge it!
|
#20
Jan 2, 2013
 

Judged:

1

1

1

The truth hurts ??? How would you have a clue ??? NUTSO ~!

Tell me when this thread is updated: (Registration is not required)

Add to my Tracker Send me an email

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Minneapolis Discussions

Title Updated Last By Comments
Global warming 'undeniable,' scientists say (Jul '10) 34 min Mothra 32,425
Hero USC footballer Josh Shaw injured saving dr... 6 hr Mark Winshel 2
Proposed high-voltage power lines raise fears i... (Apr '09) 11 hr lieht 94
Drop one word....add one word game 12 hr Capt Crunch 81
Woman's head stepped on by Rand Paul supporters (Oct '10) 13 hr Huh 26,225
Robin Williams Emmys tribute criticised for inc... 17 hr cantmakeitup 11
Debate: Ferguson - Minneapolis, MN 18 hr NSNovum 75
•••
•••
Minneapolis Dating

more search filters

less search filters

•••

Minneapolis Jobs

•••
Enter and win $5000
•••
•••

Minneapolis People Search

Addresses and phone numbers for FREE

•••

Minneapolis News, Events & Info

Click for news, events and info in Minneapolis
•••

Personal Finance

Mortgages [ See current mortgage rates ]
•••