Thread: Economics The Fiscal Cliff Approacheth
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Old 11-29-2012, 10:56 PM   #296
Direckshun Direckshun is offline
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STAGE ONE

Taxes
  • Immediate increase in both top marginal rates, as well as capital gains and dividends: +$960 Billion
  • Additional taxes: +$600 Billion
  • 2009-level estate tax
  • AMT and business tax extenders: -$236 Billion
  • Payroll tax extension or alternative policy: -$110B
  • Bonus depreciation extension
Spending/Extras
  • $50 billion stimulus package in FY13
  • Mass refi mortgage proposal
  • Deferral of sequester
  • Savings from non-entitlement mandatory programs
  • Extension of unemployment insurance: $30 billion
  • Medicare SGR Patch: $25 Billion
  • Increase in the debt limit to avoid requiring Congress to vote to increase
STAGE TWO
  • Tax reform consistent with $1.6 trillion tax increase
  • Entitlement policies from President’s FY13 budget that could total $400 billion in savings
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