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Fiscal Cliff Notes
Jul 10, 2012 — Much of the political focus when discussing the Bush-era tax cuts is on the wealthy, but they're not the only ones who would be affected if the tax cuts are allowed to expire at the end of this year.
Jul 27, 2012 — About 80 percent of Americans would see their taxes go up if all the tax cuts signed into law by President George W. Bush were to expire as scheduled at the end of this year. And nearly 100 percent of the highest income earners would have to pay more — including both the Obamas and the Romneys.
Nov 29, 2012 — The tax code has long favored investment income over the money you get in your paycheck. But today's rates on dividends and capital gains are especially low, dating to tax cuts installed under President George W. Bush. And they're one target in the talks to avert a so-called fiscal cliff.
Nov 13, 2012 — Virtually everyone agrees that allowing the nation to fall off the so-called fiscal cliff would be a bad thing. Government programs would be cut, taxes would rise, and experts say the economy would fall back into recession. And after all that, the nation still would be dealing with a budget deficit.
Nov 6, 2012 — When people talk about Taxmageddon, most are thinking of the expiration of the Bush-era tax cuts. But there's another little known tax change that could hit 25 million Americans. The modern AMT was created in the 1980s but it wasn't indexed to inflation.
Oct 17, 2012 — Last week, Morning Edition looked at possible cuts to the Defense Department as part of what's known as sequestration. Next, we examine the effect of across-the-board spending cuts on the rest of the federal budget. One analyst says right off the top expect a 15 percent reduction in the federal workforce.
Oct 11, 2012 — Unless Congress acts, the Defense Department faces some $55 billion in cuts after the first of the year. Salaries for uniformed personnel are the one major thing that's protected. Otherwise, it's about a 10 percent cut to everything from Pentagon civilian staff to the acquisition of new aircraft.
Oct 1, 2012 — About 80 percent of Americans will see their tax bills rise if the Bush-era tax cuts are allowed to expire at the end of this year. But those who will take the largest hit are those with the highest incomes.
Sep 5, 2012 — Since January 2011, the government has knocked 2 percentage points off the payroll tax, which funds Social Security. But even as the economy appears to still be in a rut, there's little appetite to extend the tax holiday and its $95 billion price tag.
Jul 25, 2012 — Democrats and Republicans are going to the brink over tax cuts for the wealthiest Americans in a showdown that threatens to send the U.S. over a year-end "fiscal cliff." So what's at the heart of the impasse?
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