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Q.

What is' Fiscal cliff'--Venugopal.gv

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Asked by Guest, 26 Dec '12 03:36 pm
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1.

The Fiscal Cliff Explained

Fiscal cliff is the popular shorthand term used to describe the conundrum that the U.S. government will face at the end of thsi year , when the terms of the Budget Control Act of Twenty Eleven are scheduled to go into effect.

Among the laws set to change at midnight on December 31, this year, are the end of last years temporary payroll tax cuts (resulting in a Two % tax increase for workers), the end of certain tax breaks for businesses, shifts in the alternative minimum tax that would take a larger bite, the end of the tax cuts from twothousand one- three, and the beginning of taxes related to President Obamas health care law. At the same time, the spending cuts agreed upon as part of the debt ceiling deal of Twenty Eleven will begin to go into effect. According to Barron's, over thousand government programs - including the defense budget and Medicare are in line for "deep, automatic cuts."
Answered by Life to, 26 Dec '12 03:40 pm

 
  
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2.

The Fiscal Cliff Explained

Fiscal cliff is the popular shorthand term used to describe the conundrum that the U.S. government will face at the end of 2012, when the terms of the Budget Control Act of 2011 are scheduled to go into effect.

Among the laws set to change at midnight on December 31, 2012, are the end of last years temporary payroll tax cuts (resulting in a 2% tax increase for workers), the end of certain tax breaks for businesses, shifts in the alternative minimum tax that would take a larger bite, the end of the tax cuts from 2001-2003, and the beginning of taxes related to President Obamas health care law. At the same time, the spending cuts agreed upon as part of the debt ceiling deal of 2011 will begin to go into effect. According to Barron's, over 1,000 government programs - including the defense budget and Medicare are in line for "deep, automatic cuts."
Answered by Shantha, 26 Dec '12 03:37 pm

 
  
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