Fiscal Cliff Deal: Will You Pay More or Less Taxes Next Year?
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Toni L. Sandys/The Washington Post via Getty Images
After a stand-off that came down to the wire, Congress finally passed a bill to avert the fiscal cliff earlier this week. The bipartisan legislation passed the Senate in the early morning hours of the New Year by an overwhelming margin of 89-8. Later that day it passed in the House by a vote of 257-167.
Many of you wondered how the legislation- which was signed into law by President Obama on January 2nd, just before the new Congress was sworn in- will affect you?
Christine tweeted the following question: “I made roughly $150,000 during 2012, can you tell me how much my taxes will go up?”
Brenda Lopez asked: “How does [the deal] affect unemployment benefits?”
And Philip Lipper wrote in on Facebook: “Why would the Republicans vote a deal that didn’t cut spending $1? It would seem it was political suicide with the base?”
Thanks for all of your great questions. Please keep them coming on Facebook and Twitter. I’ll see you tomorrow on “Good Morning America,” and Sunday on “This Week,” where I’ll have an exclusive interview with the man at the middle of the fiscal cliff negotiations, Mitch McConnell, along with a powerhouse featuring George Will, Robert Reich, Gwen Ifill and Greta Van Susteren.
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Obama promised no new taxes on the middle class just those darned old rich people but now the payroll tax comes back and hits all Americans. He said we could keep our healthcare plans and our doctors under Obamacare, wrong again, he said health cost would go done, wrong. He puts out a campaign type video over the fiscal cliff, etc. It’s time he stopped campaigning and start being a leader.
Posted by: Freedom | January 3, 2013, 2:42 pm 2:42 pm
what happen to the word the country first
Posted by: guglielmo | January 3, 2013, 3:17 pm 3:17 pm
Another campaign promise broken on top of all the lies and deceit that went along with it.
Posted by: Gunner--59 | January 3, 2013, 3:39 pm 3:39 pm
77% of the country will pay more and has nothing to do with the fiscal cliff…its obama care and we all get to share in cost to cover deadbeats while our own coverage goes down hill. try to get a real doctor to accet obamacare payments and fee schedules. aint gonna happen unless you in the big city and you receive substandard care to begin with.
Posted by: catman | January 3, 2013, 5:25 pm 5:25 pm
Obama promised no new taxes on the middle class just those darned old rich people but now the payroll tax comes back and hits all Americans
Posted by: Freedom | January 3, 2013, 2:42 pm 2:42 pm
Yes, the Republicans have fought against the payroll tax cuts consistently the last several years. This time they won. All of our payroll taxes will go up as a result of that.
Posted by: Jeff | January 3, 2013, 6:53 pm 6:53 pm
The only ones who don’t get screwed in this deal are the very wealthy, better known as Obama campaign donors. The income wealthy, and all the rest of us, will pay higher income and payroll taxes. The gimme crowd, better known as free-loaders, still pay no taxes. You’re safe too.
Posted by: doggman | January 3, 2013, 7:51 pm 7:51 pm
Only a short while ago Al Gore was pushing for the wealthy (like him and others) paying their fair share. But when it was time for the ‘rubber to meet the road’, Gore was pushing to sell his TV network before the capital gains taxes went up. Slightly hypocritical?
Posted by: deanbob | January 3, 2013, 8:06 pm 8:06 pm
The only ones who don’t get screwed in this deal are the very wealthy
Posted by: doggman | January 3, 2013, 7:51 pm 7:51 pm
You clearly don`t have any idea what`s in the bill.
Posted by: Deb | January 3, 2013, 11:32 pm 11:32 pm
Obama has no intention of reducing the deficit. He wants money, money, money so that he can finance the takers. That is the only reason. It is utterly disgusting
Posted by: Francis | January 4, 2013, 5:07 am 5:07 am
Jeff | January 3, 2013, 6:53 pm —– Hey clueless, 9 times more Democrats voted yes than GOP. 9 times more, get it? Wake up and smell the coffee. The only reason this bill passed was Democratic votes. FACT
Posted by: Commonsenseparty | January 4, 2013, 9:22 am 9:22 am
POSTED BY: JEFF | JANUARY 3, 2013, 6:53 PM 6:53 PM this was a TAX bill from the beginning and the DEMOCRATS WON. So much for looking out for the little guy, but they made sure their HOLLYWOOD crowd gets tax cuts and rum producers in Puerto Rico as well.
Posted by: Lizzie | January 4, 2013, 10:41 am 10:41 am
POSTED BY: DEB | JANUARY 3, 2013, 11:32 PM 11:32 PM neither do you.
Posted by: Lizzie | January 4, 2013, 10:42 am 10:42 am
80% of all households will pay more in taxes. The good news is, there were plenty of tax breaks for the wealthy in banking, Hollywood, and the rail business. Good thing for the rail car folks whom bought all those tank cars last year to overcome the shortage of oil transport due to H stopping teh completion of the Keystone pipeline eh? Heck, that would have created thousands of new jobs too, so H did manage to kill two birds with one (key)stone on that one! We also have a trillion in Obamacare scam taxes to pay as well. Oh, but wait, there’s still more for our new leftist government to confiscate! It seeks to disarm the law abiding citizens of the nation as well! IS great kountry no comrade? Liberty now is something so precious that even though we once lived free under it, now for our own good must be reigned in, controlled, and carefully rationed, not by God, but by the heavy hand of our ruler, H.
Posted by: TexBork_2013 | January 4, 2013, 11:55 am 11:55 am