Fiscal Cliff, how it gonna affect your wallet?
By kingparker
@kingparker (9673)
United States
January 7, 2013 8:31pm CST
From what I see right now, if the government levy higher taxes on taxable income, and cut back on the benefits on small businesses, we would more likely to cut down on our expense out there too. We have this fear, and we really skeptical in the future as we trying to save more money for the emergency sake. Additionally, the gas price is going back up again, and it is not a wise choice to going out frequently to spend money. The same for those businesses, they would more or less cut back on expanding their business adventures, and they less likely to hire more people at the moment. So, should the government extend it or strike a better solution on such situation?
2 responses
@maezee (41997)
• United States
8 Jan 13
The only thing I have noticed is the increase in social security tax, which I am told relates directly to the fiscal cliff and was part of the *solution*. I figured out $23 extra is taken out of my checks every pay day (every 2 weeks). This made me very very sad. This is the only way I have found that I am getting affected. How about yourself?
@antverdovsky (138)
• United States
8 Jan 13
It's horrible how the government is only coming up with these little short term solutions to this problem. I don't know if you've ever used this website but it's called U.S. National Debt Clock. It's an awesome website that shows how much money the United States is spending and receiving every second!
