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The looming ‘fiscal cliff’ in the United States is the biggest threat to the world economy and can cost the country its AAA sovereign rating, according to the Fitch ratings agency.
For the time being - or at least the 11 days until the automatic tax hikes and spending cuts are triggered - the House is in disarray and no deal to avert the fiscal cliff is in sight.
Originally posted by DontTreadOnMe
reply to post by jimmyx
Yes, yes it would.
We make well below $60,000 per year....and to have my taxes go up THAT much would but a dent in our lifestyle.
If taxes were ever THAT high...I don't remember it...and everything else has increased in the last twenty years. My utilities alone have gone up tremendously....never mind food.
It will be the death knell on the middle class.
Originally posted by DontTreadOnMe
reply to post by jimmyx
Yes, yes it would.
We make well below $60,000 per year....and to have my taxes go up THAT much would but a dent in our lifestyle.
If taxes were ever THAT high...I don't remember it...and everything else has increased in the last twenty years. My utilities alone have gone up tremendously....never mind food.
It will be the death knell on the middle class.