The “fiscal cliff.” It’s all anybody seems to be talking about in the news these days. Whatever the message is, it isn’t really sinking in.
We asked one woman in Dallas what she knows about the fiscal cliff, and this is what she said:
“Oh, you know what, I have been meaning to look it up, but I haven’t had the time. It’s something the media creates for people to believe or something like that?”
“I’m pretty sure there’s even been movies about it. Scary movies.”
Not yet, but there might be.
See, there are a bunch of tax breaks set to expire December 31st. If they do, it’ll affect everyone who pays taxes.
For those who make $50,000 to $75,000, they’d be bringing home and average of $3,688 less in 2013. Those who make more than a million would lose $254,637.
Lawmakers have some work to do. You know, those people we voted for, but don’t seem to have any faith in.
“The politicians in Washington are not going to do anything until there’s a crisis. We’ve seen that time and time again. We’re almost at a crisis level,” said Clark Hodges, financial strategist at Hodges Capital.
Hodges expects, if lawmakers don’t reach a deal before the end of the year, they will in early January. They want to get re-elected right?
”If they don’t get a deal done you’re going to start seeing a difference in your paycheck,” he said.