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Despite Fiscal Cliff Resolution, Tax Changes ComingAmericans will notice it on their paychecksANCHORAGE - The last minute plan from the U.S. House of Representatives that narrowly avoided the "fiscal cliff," or automatic tax increases and federal spending cuts, has wide implications, especially in Alaska, where one third of the work force is employed by the government. An estimate from George Mason University put the potential Alaska job losses at about 10,000 jobs, something that would resonate through the economy of the state. "That's a big role in our economy, those would have been paychecks lost. And that would have had a very quick noticeable effect in our economy," said economist Neal Fried, with the Alaska Department of Labor. The solution, which is temporary, doesn't cut federal jobs, but it does raise taxes. Americans will be paying an additional two percent on their income toward Social Security in 2013. The guidelines for payroll clerks aren't final yet. Carmen Fisher, who co-owns Once in a Blue Moose, said this year's first payroll has been especially stressful. "It's just been wait and see. We have no idea how to prepare," she said, as she prepared payroll a few days later than usual in anticipated of changing laws. She said her biggest hope was that there wouldn't be drastic changes -- and it looks like there won't be. Fisher, like many Americans, won't have to worry about sweeping changes, at least until the next big decision in Washington: the February decision on the debt ceiling, which is the amount of money the government is allowed to legally borrow. |
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Shame said on Wednesday, Jan 2 at 7:45 PM
I for one would have liked to see more pay their "fair share". Should have raised taxes on everyone making more than $30K. Their was no cliff, media hype to help steal more from our pockets, very irresponsible.
110485325BobD said on Wednesday, Jan 2 at 10:15 PM
They only raised the tax on SS so they would have more to steal from the American people. We , as a Nation , should DEMAND they keep their greedy hands out of SS and use it ONLY for what it was intended..
110490972Castogere said on Thursday, Jan 3 at 11:16 PM
Gee Shame, 30K isn't very much money to begin with...even those who make 50K can barely keep up with the rising cost of living. What your suggesting is gonna put more people on the street and in the poor house if that is your bar for reasoning. The tax laws are broken just like our government. The whole system needs to be rehashed from the top down. The house was given a 150 page bill to sign with only a few minutes to read it before voting on it. You actually think they read it? Once again we kick the can a little further down the alley, and once again the little guy feels the squeeze. 30K is unrealistic, so is 250K. They wouldn't make enough money to ride the black if they taxed us all 75% of our income. What do you think taxing anyone more is really going to accomplish? You guys need to think bigger. We need a new government that's not bought corporations. And one that is truly for the people. My fear is we will all succumb to the heavy hand of tyranny before we wake up.
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