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Legislation to block the "fiscal cliff" is headed to the White House for President Barack Obama's signature. The bill will avoid, for now, the major tax increases and government spending cuts that had been scheduled to take effect with the new year.
Final approval came in the House on New Year's Night. The vote was 257 to 167.
The Senate passed the bill less than 24 hours earlier.
The measure raises tax rates on incomes over $400,000 for individuals and $450,000 for couples, a victory for Obama.
It also extends expiring unemployment benefits for the long-term jobless, prevents
Originally posted by david99118
stop postponing things congress! i need the economy to collapse! i don't want to pay off my student loans!
I say its a victory because taxes need to be raised on the wealthy
Originally posted by Xaphan
The next thing Americans will see is skyrocketing tobacco and alcohol taxes, much like we have to suffer with in Canada
Thank god for ordering smuggled tobacco off the internet lol.
Originally posted by Dustofenese
Originally posted by Xaphan
The next thing Americans will see is skyrocketing tobacco and alcohol taxes, much like we have to suffer with in Canada
Thank god for ordering smuggled tobacco off the internet lol.
It's a shame when the only free market left, is the Black Market.
Originally posted by QQXXw
Originally posted by david99118
stop postponing things congress! i need the economy to collapse! i don't want to pay off my student loans!
The economy won't collapse, all the unemployed will be put onto special programs.
You will have to work the rest of your life in a work-for-income support or work-for-food program which the government will setup soon. You will probably work until your student debts are paid off.