The Fiscal Cliff:
This past
Tuesday, the talk has been all about the Fiscal Bill that was finally passed
thanks to the agreement finally reached thanks to President Obama (the house
and senate.) This Fiscal Bill has been built up and has promised to give a
break to the middle class, which is what everyone has been anticipating. For
years now the middle class has needed and wanting a major tax break and some
people were more displeased than others when the results of the bill were
reached. The plan is essentially supposed to block tax hikes and delay spending
cuts, meaning fewer taxes. What I have come to have read about the fiscal
cliff, is that it has raised taxes on the more wealthy people earning at least
400,000 a year. So, their taxes will increase, while nothing really happens to
the middle class where everyone actually wanted a tax cut.
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