While the U.S. is in economic turmoil, many hard-working Americans must forgo vacation to keep their businesses up and running. Meanwhile, 7.9% of Americans don't have jobs from which to take vacation. Vacation is a luxury that is earned. Yet, in just a few days, Congress will take off for the holidays— likely 4 to 5 weeks until they reconvene. If the fiscal cliff is still looming, this is unacceptable.
No matter what party line you're on, you may have a hard time ringing in the New Year with confetti and cheer when you are bound to pay on average $2,200 in taxes more next year.
While it may have a hokey name, the fiscal cliff is real, and it will affect you. For those of you losing homes to foreclosures and short sales, you will owe thousands of tax dollars on the loss (if Mortgage Forgiveness Relief Act not renewed). Students will lose their tax breaks. Parents won't be able to claim their children 19-23 as dependents anymore. Doctors will be paid 30% less from Medicare. And, there's much more.
"In all, according to an analysis by J.P. Morgan economist Michael Feroli, $280 billion would be pulled out of the economy by the sunsetting of the Bush tax cuts; $125 million from the expiration of the Obama payroll-tax holiday; $40 million from the expiration of emergency unemployment benefits; and $98 billion from Budget Control Act spending cuts." [WSJ]
Please sign this petition to stop Congress from taking an obscenely long holiday vacation if they cannot come to agreement to prevent the fiscal cliff.
Congress: Negotiate. Put it in writing. Sign. Do your job.