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2 Bumps

Are you wondering about the impact of the Fiscal Cliff on your family?

http://money.msn.com/now/post.aspx?post=b84b065d-9ae9-452d-92a7-4a369489044a

Here is a chart that lays out cuts and taxes.

 
booklover545

Asked by booklover545 at 11:48 PM on Dec. 7, 2012 in Politics & Current Events

Level 38 (104,755 Credits)
This question is closed.
Answers (15)
  • I'm very concerned. We've been having a hard enough time as it is, keeping up w/ inflation. And every year, my husb will get a measly raise only to have it taken away to cover the increased costs in our medical coverage. So basically, he hasn't had a raise in years, yet everything under the sun has gone up. I am fed up w/ ALL the politicians on both sides & at all levels. They seem to think it's OK to put their posturing & stubborn grandstanding above the needs of the people they are working for! Their unwillingness to find a middle ground is appalling & they should all just be fired or in some way held accountable for the mess they havw created & continue to create. (Hmmm, class action lawsuit by the citizens against our Govt.? Even if we win, they can't pay it anyway!) :p

    mrsmom110

    Answer by mrsmom110 at 6:42 AM on Dec. 8, 2012

  • Busybody, I never asked you how much you make, but I have seen you post how rich you over probably over 50 times. You will still be able to eat out at that income don't panic.


    Oh yes....you are definitely a first class busybody. I have never said I am rich. I have when it was relevant talked about business and finance. You are the one that get glassy eyed and green anytime I post anything. Quit worry about the Jones...spend a little time on your own bottom line...maybe you won't be so bitter.
    yourspecialkid

    Answer by yourspecialkid at 9:25 PM on Dec. 12, 2012

  • Sighs at Miss Busybody....we are currently paying mortgages on homes in 2 states...we had to move for my husband's work and could not sell our other home...it just didn't seem right to let it go into foreclosure when we could pay for it....I also support my Mom...make big contributions for autism research and a non-negotiable 30% of our income goes into savings because I know SS isn't going to be there .


    Busybody, I never asked you how much you make, but I have seen you post how rich you over probably over 50 times. You will still be able to eat out at that income don't panic.

    mommom2000

    Answer by mommom2000 at 8:32 AM on Dec. 12, 2012

  • I have no idea...
    GlitteribonMom

    Answer by GlitteribonMom at 4:29 PM on Dec. 11, 2012

  • You make over 250,000 a year, and you are going to have to stop eating out? You are doing something wrong and need to manage your finances better.

    Sighs at Miss Busybody....we are currently paying mortgages on homes in 2 states...we had to move for my husband's work and could not sell our other home...it just didn't seem right to let it go into foreclosure when we could pay for it....I also support my Mom...make big contributions for autism research and a non-negotiable 30% of our income goes into savings because I know SS isn't going to be there.

    Now, I could decide to just raise prices on my products to cover my personal income taxes.....but I decided to cut back on some of my own expenses first................if that is a problem for you though.....
    yourspecialkid

    Answer by yourspecialkid at 2:20 PM on Dec. 11, 2012

  • There goes my step-son's and step-daughter's college tuition money. The higher taxes for us would be greater than our grocery budget for the year.

    If this happens it couldn't happen at a worse time for those already having a hard time. There are still talks of businesses not hiring more ppl because of Obamacare or even cutting ppl to avoid having to provide health insurance. That in combination with the already poor job situation is just sad.
    HHx5

    Answer by HHx5 at 12:12 PM on Dec. 11, 2012

  • I try not to rely on the government for anything. The most that I plan on getting back every year from taxes is what I put in. If we get extra for EIC/etc then that's great if not it doesn't affect us because it's not in our budget to spend.
    baconbits

    Answer by baconbits at 11:48 AM on Dec. 10, 2012

  • Thanks meooma for the link. I am worried it will impact us. As a single mom every penny counts.
    booklover545

    Comment by booklover545 (original poster) at 12:06 PM on Dec. 8, 2012

  • Not a lot....it means we won't have as much disposable income....seems we haven't been paying our "fair share". I won't be buying a new car in the spring...I trade pretty regular. We are also going to cut out almost all of our dining out....and I won't be buying as many groceries for the food pantry.


     My family is going to get hit pretty hard by the tax increases....so we will just be more frugal...and that isn't good for the economy.


    You make over 250,000 a year, and you are going to have to stop eating out? You are doing something wrong and need to manage your finances better.

    mommom2000

    Answer by mommom2000 at 8:43 AM on Dec. 8, 2012

  • UGH, we're right around the bottom of the upper mid 20%....so we're looking at something between $1900-3500 and frankly, we can't afford that at all!
    DSamuels

    Answer by DSamuels at 1:25 AM on Dec. 8, 2012