So, most of us were relieved that there was news of a compromise reached in Washington, that a bandage was slapped on to the mess our nation’s finances are in.
For most of the United States, 2012 has been a difficult and challenging year, replete with extreme weather phenomena, tragic losses of life, and one of the most polarizing elections of modern times, so I understand why the average American just wants to move on. We are weary. We’ve all had enough uncertainty, we need to be able to spend without worrying as much for awhile. Our economy depends on it.
The new legislation keeps the Bush era tax cuts for persons making less than $400,000 and couples making less that $450,000. It also makes permanent the fixes for the Alternative Minimum Tax and delays government spending cuts for two months. Continue reading
