Cliffhanger: How Far Will You Fall if There's No Deal in Washington?
It should be a drinking game for as much as we've heard the term 'fiscal cliff' since the polls closed in November, but what does it mean for your paycheck?
With hours left in 2012, it's still uncertain whether an agreement will be reached between Republicans and Democrats that would avoid having the country go over the dreaded "fiscal cliff" tax increases for just about everyone. An impasse between congressional Republicans and the White House centers over just whose taxes will go up — with the president indicating those who make $400,000 or more should see their tax rates go up, while Republicans are pushing for no increases at all, or hikes for just those making more than $1 million. Spending cuts have also remained a sticking point between the two parties. The hike will come at midnight as tax cuts from the Bush administration set in 2001 and 2003 will expire, increasing everyone's income …
Bob McBride
1:29 pm on Tuesday, January 1, 2013
We aren't exactly swimming in extra bucks. I say, yes, freeze all pay increases until we start getting our house in order. If we're not running efficiently as a whole then no one should be getting raises just because they've managed to stay OTJ for a certain amount of time. Develop some efficiencies, start saving the taxpayer some money and show some movement in the right direction and maybe we … more ›