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.

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

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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

Answer by mrsmom110 at 6:42 AM on Dec. 8, 2012
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Not really.

Answer by Izsarejman at 11:50 PM on Dec. 7, 2012
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Not really...my mind has been preoccupied with other things for the last few weeks.

Answer by mommy_jules at 11:51 PM on Dec. 7, 2012
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Yes, very much so. We have a really tight tight budget. Even if $50 is taken out,m it means we have to forfeit something else and go without. A $2000 out of the paycheck will devastate us.

Answer by Michigan-Mom74 at 11:53 PM on Dec. 7, 2012
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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.

Answer by yourspecialkid at 11:55 PM on Dec. 7, 2012
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So far this year, my dh has only made $17000.00

Answer by Michigan-Mom74 at 11:55 PM on Dec. 7, 2012
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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!

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

Answer by mommom2000 at 8:43 AM on Dec. 8, 2012
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Thanks meooma for the link. I am worried it will impact us. As a single mom every penny counts.

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

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