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View Diary: Senate deals on fiscal cliff, House action pending (296 comments)

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  •  I (5+ / 0-)

    have to go down as cautiously optimistic on this compromise. Cutting it off at 400 and 450k isn't what I hoped for, but inflation has changed past dollar brackets, the former Clinton era circa 1997 250 k cut off is now nearer 400k when adjusted for the cost of living, so that's bearable imo.

    I'm disappointed by the pay roll tax not being included. Last year was terrible for me, if judged solely by income I joined the working poor. My budget is so tight, with so little margin for error, the payroll tax going back up will affect my standard of living. But it also gives me ownership in the benefits, my benefits, that much more. I'm willing to pay for my Social Security and Medicare, I think we have to be willing to do that, even if it hurts a little. And if things get better before I retire I'm willing to chip in a little for other people's benefits too.  

    At some point we're going to have to do something about cap gains, carried interest, dividends. It's mnorally and economically indefensible for those items to come at such a low bracket. But if this passes as is I can stand it.

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