|
Which “Fiscal Cliff” issues are you most concerned about?
Posted by
Randy
|
November 09, 2012
As the end of the year approaches, so does the “fiscal cliff”: expiration of the Bush tax cuts and automatic spending cuts of $1.2 trillion known as sequestration are scheduled to take place.
The Congressional Budget Office (CBO) released a report today: Economic Effects of Policies Contributing to Fiscal Tightening in 2013, estimating that significant tax increases and spending cuts scheduled to take effect in January will sharply reduce the federal budget deficit, but also cause “a decline in the nation’s economic output and an increase in unemployment. “ Essentially, the fiscal cliff could drive the U.S. economy back into recession next year and result in a jump in the jobless rate to 9.1% by the end of 2013. Question of the week: Which “Fiscal Cliff” issues are you most concerned about? (multi-answer) ( ) Rising income tax rates to 15, 28, 31, 36 and 39.6% from 10, 15, 25, 28, 33 and 35% ( ) Capital Gains rate rises from 15 to 20% for most people ( ) Automatic spending cuts to defense budget of $55 billion in 2013 ( ) Reduction in the child tax credit from $1,000 per child under 17, to $500 per child under 17 ( ) Automatic spending cuts of $55 billion to non-defense discretionary spending in 2013 ( ) I am not concerned. These are all appropriate tax increases and spending cuts. ( ) Other (share your thoughts on my blog here.) Take the poll here.
Users are solely responsible for the opinions they post here and their comments do not necessarily reflect the views of Congressman Forbes.
Post a Comment
We encourage you to analyze and comment on the posts featured on this blog, but please understand that comments which include campaign content, engage in personal attacks, or include vulgar, profane, obscene, or inappropriate language will be removed from the site. Please note that there may be a brief delay in the publication of your comment.
|
SEARCH BLOGRECENT POSTS05/23/2013 - Question of the week: Do you believe the scope of the subpoenas strikes the proper balance between the freedom of the press and the need to protect the American people?05/20/2013 - GSA shorts small business by over $3 million 05/20/2013 - Time to Admit China is a Military Competitor 05/17/2013 - Question of the week: Do you believe the Prevent IRS Overreach Act is a necessary step in ensuring protection for the American people? 05/16/2013 - The Unaffordable Care Act 05/15/2013 - Questioning Eric Holder on Benghazi, IRS, and Fast and Furious ARCHIVESBy YearBy Issue
|