New Year Gift Vay..andariki. Senate Approves Deal To Avoid Fiscal Clif

[Spartan]

Senate leaders and the White House struck a last-minute deal to avert the feared [url="http://money.cnn.com/2012/11/08/news/economy/fiscal-cliff/index.html"]fiscal cliff[/url] Monday night, with Vice President Joe Biden headed to the Capitol Hill to pitch the plan to fellow Democrats.

"Happy New Year," Biden, who became the Democratic point man in the talks, told reporters. "Did you think we would be here New Year's Eve?"
A senior Democratic aide told CNN that if caucus meetings went well, a Senate vote could come "within the hour." But the House of Representatives went home long before midnight, meaning nothing will get through Congress before the combination of tax increases and spending cuts lawmakers have been scrambling to head off starts to kick in, at least on paper.

A source familiar with the deal told CNN that the Senate proposal would put off the cuts for two months and keep the expiring Bush-era tax cuts for individuals earning less than $400,000 or couples earning less than $450,000. President Barack Obama has long demanded that the threshold be set at $250,000.

Tax rates on income above those levels would go back to the Clinton-era rate of 39.6%, up from the current 35%, and itemized deductions would be capped at $250,000 for individuals and $300,000 for couples. That would generate an estimated $600 billion in additional revenue over 10 years.
Taxes on inherited estates will go up to 40% from 35%, but the exemption will be indexed to rise with inflation -- a provision the source said was added at the insistence of moderate Democrats.

Unemployment insurance would be extended for a year for for 2 million people, and the alternative minimum tax -- a perennial issue -- would be permanently adjusted for inflation. Child care, tuition and research and development tax credits would be renewed. And the "Doc Fix" -- reimbursements for doctors who take Medicare patients -- will continue, but it won't be paid for out of the Obama administration's signature health care law.

[Yuva Nataratna]

HAPPY NEW YEAR baa...

[Spartan]

[quote name='Yuva Nataratna' timestamp='1357024941' post='1303040594']
HAPPY NEW YEAR baa...
[/quote]


inko 40 min lo..

[vizagpower]

[img]http://www.desigifs.com/sites/default/files/2wez6gm_0.gif?1290449913[/img] wats the use for me????

[150bryant]

happy New yr Cnaidoo

[kakka mukka]

If your annual income is $30,000, expect $50 less from ur mothly paycheque.

If its $1,28,000 and above, you will get $189 less on ur montly paycheque.

Update: Tax rise mainly on couples who have income more than $450,000

Source: CNN Money

[kakka mukka]

[quote name='vizagpower' timestamp='1357025734' post='1303040611']
[img]http://www.desigifs.com/sites/default/files/2wez6gm_0.gif?1290449913[/img] wats the use for me????
[/quote]
They planned to put more tax cut , than what they decided now.. ante...

[k2s]

[quote name='ChittiNaidu' timestamp='1357024817' post='1303040590']
Senate leaders and the White House struck a last-minute deal to avert the feared [url="http://money.cnn.com/2012/11/08/news/economy/fiscal-cliff/index.html"]fiscal cliff[/url] Monday night, with Vice President Joe Biden headed to the Capitol Hill to pitch the plan to fellow Democrats.

"Happy New Year," Biden, who became the Democratic point man in the talks, told reporters. "Did you think we would be here New Year's Eve?"
A senior Democratic aide told CNN that if caucus meetings went well, a Senate vote could come "within the hour." But the House of Representatives went home long before midnight, meaning nothing will get through Congress before the combination of tax increases and spending cuts lawmakers have been scrambling to head off starts to kick in, at least on paper.

[size=5][color=#FF0000]A source familiar with the deal told CNN that the Senate proposal would put off the cuts for two months and keep the expiring Bush-era tax cuts for individuals earning less than $400,000 or couples earning less than $450,000. President Barack Obama has long demanded that the threshold be set at $250,000.

Tax rates on income above those levels would go back to the Clinton-era rate of 39.6%, up from the current 35%, and itemized deductions would be capped at $250,000 for individuals and $300,000 for couples. That would generate an estimated $600 billion in additional revenue over 10 years.
Taxes on inherited estates will go up to 40% from 35%, but the exemption will be indexed to rise with inflation -- a provision the source said was added at the insistence of moderate Democrats.[/color][/size]

Unemployment insurance would be extended for a year for for 2 million people, and the alternative minimum tax -- a perennial issue -- would be permanently adjusted for inflation. Child care, tuition and research and development tax credits would be renewed. And the "Doc Fix" -- reimbursements for doctors who take Medicare patients -- will continue, but it won't be paid for out of the Obama administration's signature health care law.
[/quote]matter in RED aa

[jersey babai]

[KoojaKootalKaxim]

tax cut ante naaku in-hand ekkuva ostunda?

[kakka mukka]

[quote name='KoojaKootalKaxim' timestamp='1357069503' post='1303041553']
tax cut ante naaku in-hand ekkuva ostunda?
[/quote]
Kaadu...taggutadi...nuvvu neee kooja questions....