If I was an American...I would be PIssed!

at the government



Forget the rich, fiscal cliff would hit everyone else tooBy Tami Luhby @CNNMoney December 28, 2012: 5:07 AM ET

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NEW YORK (CNNMoney)Sure, the rich would get hit hard by the fiscal cliff. But nearly everyone would feel the brunt of the tax hikes."Going over the fiscal cliff will raise taxes on 90% of Americans," said Roberton Williams, a senior fellow at the Tax Policy Center. More than two-thirds of the poorest Americans, who make less than $20,000 a year, would have to shell out more to the Internal Revenue Service. The average increase would be $590.
And pretty much everyone earning more than $40,000 a year would be affected. Middle-income folks, who earn between $40,000 and $64,000 annually, would see an average increase of nearly $2,000. And the richest folks, who earn more than $108,000, would face an increase of nearly $13,000.
America's Debt Challenge
The fiscal cliff provisions are wide-ranging.
The middle class, for instance, could see the 2% payroll tax holiday disappear. So someone making $50,000 might get about $83 less a month in their paychecks.
Then there's the alternative minimum tax , which could strike roughly 28 million people, many of whom are in the middle-class.
And of course, all taxpayers would be see an increase in tax rates.
The low-income, meanwhile, would be hit by the scaling back of the earned income and child tax credits, which were expanded under both the Bush and Obama administrations. So a mother of two who earns $14,500 a year would see her entire $1,725 child tax credit disappear, according to Joel Friedman, a federal budget and tax expert at the Center on Budget and Policy Priorities.
The poorest Americans would see 3.7% of their after-tax income disappear. While that's only half the amount the richest fifth of the nation would lose, the low-income often have fewer disposable funds at their command.
"When you are at or near the poverty line, every dollar has extra meaning than when you are making a million bucks," he said.
Related: What happens to the economy if we go over the cliff?
The tax provisions are only one part of the fiscal cliff that would sock the middle class and the poor.
More than 2 million people are scheduled to lose their unemployment benefits come January if Congress doesn't act, according to the National Employment Law Project. And another million would not be eligible for federal extended benefits when they run out of state coverage in the first quarter of 2013.
Also, the automatic budget cuts set to take effect next month would likely fall heavily on programs that support the poor, such as Head Start and subsidized child care.

First Published: December 28, 2012: 5:07 AM ET

check the link for the comments from ppl

money.cnn.com/2012/12/28/news/economy/fi...index.html?hpt=hp_t1

This whole fiscal thing is an artificial .
It all started if my recollection is correct when the DEMS and the Republicans could not agree on a budget. 
They then appointed a bipartisan comission headed by retired Republican senator Allan Simson and retired democrat Bowles
The recomendations were rejected by both parties as it contains deep cuts to cherished programs of both parties plus tax increases but  they decided    to kick the can down the road  by adopting the recomemdations into law to be  automically kicked by the end of the year if no agreement is reached which is now
In the ensuing time from the begining of the year to now there was hope that a budget agreement would have been reached between both  parties  and the Simson Bowles law would never kick in but as we see now that never happened an hence the fiscaL cliff
This law can easily be rescinded and there would be no fiscal cliff .
That is my reading  on it  anyway

Canadians should be very worried cause 85% of their trade is with the US  and when America sneezes Canada gets a severe flu

Canada had been seeking to broaden its trade under Chretien.  idiot americanist/zionist harper doh seem so interested. 


Nigel farage have a message fuh harper and cameron: 


"pull out of europe as a state. deal with europe as trade partner and whatever continental deals they have to work to keep thins in synce.  but diversify england trade.  there is the commonwealth that speaks english that britain can work with in trde and development"


same with canada..and australia.  but it cyar be on the old white superior/colour inferior basis for it to work well.


new day..new mutually beneficial trade relations

I am convinced Canada can attract other Trading partners.

We jus too lazy ....cause the border is at our doorstep 

well if deh get crush fall dong de cliff an' bury we... we go have to dig out or suffocate.  we have to spread we wings den or.... :shocked: :shocked: