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unwashington. the reason, a tax cut america might be about to lose. over the past year you have probably had $1,000 extra. thanks to the payroll tax cut. you will save at least that much next year, if democrats and republicans extend it. two bills are up for vote to do just that. the democrat bill taxes millionaires to pay for the extension. the republican one freezes federal pay and cuts millionaires off from some benefits like unemployment. both bills will likely fail. because surprise, surprise, the parties haven t compromised. now congress has 30 days to pass the payroll tax extension. if they don t. people with a salary of $35,000 will pay $700 more in taxes next year. if you make $50,000 you pay $1,000 more. $75,000 in salary, $1,500 more. get how this works. on and on. economists warn that if it is not extended the u.s. could tip back into a recession. the bottom line is this, american people want it. the economy needs it. and the two major parties agree on it. s ....
might be about to lose. over the past year you have probably had $1,000 extra. thanks to the payroll tax cut. you will save at least that much next year, if democrats and republicans extend it. two bills are up for vote to do just that. the democrat bill taxes millionaires to pay for the extension. the republican one freezes federal pay and cuts millionaires off from some benefits like unemployment. both bills will likely fail. because surprise, surprise, the parties haven t compromised. now congress has 30 days to pass the payroll tax extension. if they don t. people with a salary of $35,000 will pay $700 more in taxes next year. if you make $50,000 you pay $1,000 more. $75,000 in salary, $1,500 more. get how this works. on and on. economists warn that if it is not extended the u.s. could tip back into a recession. the bottom line is this, american people want it. the economy needs it. and the two major parties agree on it. so, why can t politicians get it done? at lea ....
the reason, a tax cut america might be about to lose. over the past year you have probably had $1,000 extra. thanks to the payroll tax cut. you will save at least that much next year, if democrats and republicans extend it. two bills are up for vote to do just that. the democrat bill taxes millionaires to pay for the extension. the republican one freezes federal pay and cuts millionaires off from some benefits like unemployment. both bills will likely fail. because surprise, surprise, the parties haven t compromised. now congress has 30 days to pass the payroll tax extension. if they don t. people with a salary of $35,000 will pay $700 more in taxes next year. if you make $50,000 you pay $1,000 more. $75,000 in salary, $1,500 more. get how this works. on and on. economists warn that if it is not extended the u.s. could tip back into a recession. the bottom line is this, american people want it. the economy needs it. and the two major parties agree on it. so, why can t p ....
We do things legislatively may not square up with an administrative way to do it but that doesn t mean that we ought not try to find a way. i am all for the $1.2 trillion sequester as it is. but i would love to see us do something that will not require that those triggers get pulled because if those triggers get pulled, it s across the board. it is going to be nasty. it will be a meat ax approach. i don t think that s the best way to do it. we have until december 23rd to act as a full body of the house. though the committee the super committee didn t do it, the house can still do it. after the super committee came out and said they failed to come to an agreement, there was a lot, particularly among, i d say, almost a dozen senate republicans who at least showed an openness to the ....
And economic writer for the economic times are both live. thanks for coming in today. good afternoon. did the markets expect the super committee to get anything done or was there an expectation of failure built in anyway? i wouldn t put too much emphasis on the market reaction. the market is probably going down for a variety of reasons, including the situation in europe. i think there was a general recognition that the super committee didn t have much of a chance for success. so it went down, i don t think we could pin the market reaction it that. i think it was pretty much expected. peter, there are so many things left unresolved, tax breaks that are going to expire, all kinds of things that washington has to get done. whether or not we get a payroll tax deduction, a holiday continued will have a big impact on the markets. the general belief that we will have as much as a half percent impact on gdp. i don t buy that. next time, they will pay for it ....