Than 450,000 in income. Itemized deductions would be limited for individuals making more than 250,000 and couples making more than 300,000. The estate tax would rise to 40 . Emergency Unemployment Benefits would be extended for another year. The alternative minimum tax would be adjusted for inflation permanently. And, in an effort to boost the economy, Small Businesses would be eligible for another year of bonus depreciation when they buy equipment. The big hang up is what to do about the sequester 110 billion in automatic spending cuts in defense and domestic programs that begin at midnight. Democrats want to postpone the cuts for a year or more. Republicans for just a few months. I think there are some republicans who believe there is no other trigger that will force another full scale debate on spending. The president says taxincrea. Cutting spenting next year. Iif they think that is thefos thing they have another think coming. That is not how its going to work. We have to do this i
Moving our economy for 160 years. Bnsf, the engine that connects us. And by the alfred p. Sloan foundation. Supporting science, technology, and improved Economic Performance and Financial Literacy in the 21st century. And with the ongoing support of these institutions and foundations. And. This program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Brown the u. S. House of representatives headed toward approval this evening of a tax plan that republicans backed and democrats said was a waste of time. The division demonstrated that efforts to get a bipartisan agreement and avoid the fiscal cliff are stuck in stalemate. The house will be in order. Brown House Republicans pushed their plan b. Despite a veto threat from the white house and the strong opposition of senate democrats. Speaker john boehner insisted the president had left him with no alternative. For weeks the white house said if i moved o
Point remains finding something that can make it through the house with enough support from republicans. It seems like the 250 threshold that the president proposed previously is unlikely to pass the house in its current form, and so without some sort of additional compromise there, it seems unlikely that were going to get something done before the end of the year. Susie you know thanks for that report. I am just wondering from all of the reporting you have done, do you think we are better off with a bad deal than no deal at all . You know susie when peopletal they are talking about a bad deal in political terms. Frankly its republicans that are most worried about the bad deal they have most leverage. The president has the most leverage. They are worried about a bad deal. Any deal that gets us past the fiscal cliff is going to be seen as a good deal. Susie it seems like we are further apart than last week when president obama gave the last minute pep talk to get the talks going. Do we
Than 450,000 in income. Itemized deductions would be limited for individuals making more than 250,000 and couples making more than 300,000. The estate tax would rise to 40 . Emergency Unemployment Benefits would be extended for another year. The alternative minimum tax would be adjusted for inflation permanently. And, in an effort to boost the economy, Small Businesses would be eligible for another year of bonus depreciation when they buy equipment. The big hang up is what to do about the sequester 110 billion in automatic spending cuts in defense and domestic programs that begin at midnight. Democrats want to postpone the cuts for a year or more. Republicans for just a few months. I think there are some republicans who believe there is no other trigger that will force another full scale debate on spending. The president says taxincrea. Cutting spenting next year. Iif they think that is thefos thing they have another think coming. That is not how its going to work. We have to do this i
Beyond their control like the economy and the fiscal cliff . I think overall it was more probably 70 to 80 factors beyond the retailers control. I think retailers had creative merchandise but i think the news didnt lead to a feel good factor. In any economy, good or bad, you always have some winners. Who did really well this year . Well, it looks like in terms of who did well so far, Companies Like American Eagle outfitters limited, michael cors, macys tj and i would say costco was also a winner. On the flip side were there retailers that you had high hopes for going into the season but just didnt deliver in the end. Certainly we will see some becoming more promotion al, some of the childrens retailers, whether it was impacted by weather or there was Competitive Price and they did a good job at it, the childrens retailers seemed to have a tougher season this year. Now is the time of year when we shift into gift card sales. What most people dont realize is those sales get counted until