- This topic has 75 replies, 15 voices, and was last updated 11 years, 11 months ago by bearishgurl.
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December 31, 2012 at 6:45 AM #20416December 31, 2012 at 6:48 AM #756971CoronitaParticipant
kick the can down the road… I like it…
December 31, 2012 at 6:53 AM #756972ocrenterParticipantso where is the spending cut part? I’m liking the cliff more and more…
December 31, 2012 at 7:19 AM #756974CoronitaParticipant[quote=ocrenter]so where is the spending cut part? I’m liking the cliff more and more…[/quote]
postponing..Depending on if AMT gets removed, and IF they don’t reduce the itemized deduction (for me)… I might end up paying lower taxes next year…lol…
December 31, 2012 at 8:32 AM #756976CoronitaParticipantFWIW: payroll taxes look like they are going to go up (well, at least restored) for everyone……
Regardless of the fate of the negotiations, it appeared all workers would experience a cut in their-home pay with the expiration of a two-year cut in payroll taxes….
December 31, 2012 at 8:58 AM #756979scaredyclassicParticipantThe dickering over what number constitutes wealthy enough to pay higher taxes sounds kind of an absurd basis not to make a deal.
December 31, 2012 at 9:16 AM #756982SD RealtorParticipantThis is awesome!!
Raise taxes a little bit but don’t spend any less.
December 31, 2012 at 9:28 AM #756985anParticipantkeep the punch bowl filled.
December 31, 2012 at 9:53 AM #756989SD RealtorParticipantFunny because the so called fiscal cliff was in reality what really needed to be done. It cut spending (mostly in defense) and it raised taxes.
Also this mess was the result of yet another cave in on the debt limit. So we get another debt limit debate in another what, 6 weeks?
Hooray!!!
Keep spending baby!!
December 31, 2012 at 11:12 AM #756995CoronitaParticipantuh oh.. The latest news is “cap” on itemized deductions for those earning $250k(single)/$300k household….
Of course, it probably doesn’t matter anyway, if you get hit by AMT, because state+property taxes don’t count anyway…
Lol….
December 31, 2012 at 11:13 AM #756996CoronitaParticipantAlso, I think the latest is estate tax exemption is gonna be $5million ($10million with A/B trust). But rates above that go to 40% (up from 35%)…
December 31, 2012 at 12:12 PM #757000CoronitaParticipantLol. Reentered stock market last friday…Weeeeeeeee….
December 31, 2012 at 6:43 PM #757009AnonymousGuestLooks like all the fear monguering worked.. kick the can down the road AGAIN. Absolutely predictable.. why didn’t I get into the market Friday like FLU? I guess for the most part I have tuned out of the economic news and markets recently because it is literally the same crap all the time. Next year we’ll have the same debate all over again, just will have a new name. But same results.
Ultimately this will not end well at all. Most of us on this board know this already, it is just a matter of time. But in the meantime, be happy and play with your new Ipad minis America. Might as well keep enjoying these government/Fed induced good times while you can..
December 31, 2012 at 7:52 PM #757010CoronitaParticipantLol… you guys check out the latest deal for the fiscal cliff?
http://politicalticker.blogs.cnn.com/2012/12/31/details-emerge-in-fiscal-cliff-agreement/?hpt=hp_t1
The big surprise is estate tax exemption. Basically $5million will be exempted per person ($10 million for couples). BUT, not only that… It will be indexed with inflation. Lol… That is signficant…
Also, looks like the higher tax rates will hit for $400k for individuals, $450k for married couples (so one again, I guess your spouse is expected to stay at home after they get married.) No big deal.
The big question will be that it seems like itemized deductions will be capped. What and when is still unknown..
Oh, and they’ve decided to postpone the spending cuts for two months, half will be paid for defense cuts and half will be paid by the increased taxes (you know the money they haven’t collected yet but decided to spend anyway… Kinda like how most americans do it… Buy now, pay later… lol….)
Oh and medicare care payments for doctors is safe…
Yeah, kicking the can down the road is bad. But if there’s anything. The U.S. has proved it has mastered the art of kick the can down the road….
Time to buy more hard core assets, with borrowed/inflated money of course…Happy New Year Everyone!!!! Spend like it’s 1999!!
December 31, 2012 at 7:58 PM #757011AnonymousGuestI agree with FLU that we need to spend our money on hard assets while it is still worth something. But what to buy?
I already bought my dream sports car nearly three years ago so that is checked off. I bought a fair amount of gold bullion around the same time while gold was still around 1200 or less an ounce. But now gold is relatively expensive. As far as real estate, houses are still mostly out of my price range in any area I really want to live even with low interest rates (unless I sold my dream car and gold which I don’t want to do). Stock market is pure day trading casino right now and there is no safe way to invest that nets any meaningul incojme
So what else can we do with our money, any ideas? Lately I’ve just blown a lot going to restaurants, sporting events and concerts, etc. for short term fun. But as far as investing..??
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