A one-year extension of the employee-side payroll tax cut was passed in December of 2011. It's scheduled to lapse along with the other fiscal cliff policies in 2012. This is a particularly popular tax cut because it goes by and large...
In response to:
The Congress of the United States are the very people who have completely caused the financial MESS our country is in and all for the sake of POWER AND MONEY. And now who of you out there actually believes that those same POWER HUNGRY members of congress and POTUS will do ANYTHING to amend our horrific economy which to restate was entirely caused by those vile members of congress in the first place. AND the sure path to achieve "the despot hussein's" communist agenda IS to go over that fiscal cliff.
The coming fiscal cliff's mix of tax hikes and spending cuts are projected to seriously hamper economic growth over the next two years, and Congressional leaders would be wise to negotiate fixes for the problems. One of the more popular potential fixes, however, is only going to hasten the coming entitlement crisis by worsening the finances of Social Security.
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