0
Military pay is exempt from the spending cuts included in the "fiscal cliff." Other major programs exempt include Social Security, Medicaid and veterans' benefits.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What is the definition of fiscal cliff?
the definition of fiscal cliff has to do with the taxes and now, in December of 2012, Obama said that the wealthy will pay more
Why is there a fiscal cliff?
Their is a fiscal cliff because the government/America is 16 trillion dollars in dept and we need to figure out away to pay off the dept. The fiscal cliff will bring in money by raising taxes or cutting government spending. At this point for the next two months the government has chose to raise taxes on the 2% that make 450,000 dollars a year.
What Is An Example of Fiscal Policy?
Increasing taxes to pay for greater military spending.
How can the military pay for my education?
Yes, the military can pay for your school. You will have to join the military and you will go to a military college but you will get a degree!
How many biweekly pay periods in 2011-12 fiscal year?
26
How did Jefferson and gallatin deal with the national debt?
They decreased the functions of the national government.
What is a fiscal squeeze?
Fiscal Squeez is the economic constrant that results when money raised through taxes is insufficient to pay for all the services that a city needs to function efficiently.
If an individual gives property the beneficiary must pay an inheritance tax?
Fiscal Policy
Who pays for the military?
The government sets the pay for the military, the government pays the military and tax payers fund the government so that they can pay for the military. Keep in mind military members pay taxes as well so they themselves are paying a portion of their own pay checks.
If I select a degree with the military will they pay for my schooling?
I think what and how much they will pay for depends on what you are going to school for and how long you have been in the military. If you do decide to have the military pay for your schooling, however, you will be obligated to remain in the military for a certain amount of time.
Last month I became a beneficiary to an estate in Malaysia what type of Inheritance tax do I pay?
fiscal policy
What does Zambia wish to gain from the close relationship with the US and Obama Administration?
HOW CAN ZAMBIAN ECONOMISTS LEARN FROM FISCAL CLIFF November 20, 2012 | Filed under: Business | Posted by: adminWHAT CAN ZAMBIAN ECONOMIST LEARN FROM FISCAL CLIFF - USAYou're probably hearing a lot about this "fiscal cliff" thing nowadays. But unless you live in DC, work on Wall Street, or sleep with a copy of Pete Peterson's autobiography tucked under your pillow, it's possible that you have no idea why everyone is freaking out. Luckily, your ignorance can be cured. By learning some rudimentary facts about the fiscal cliff, you'll be able to pontificate on today's political and economic landscape like a pro, and you'll have ammo to impress your friends at cocktail parties between now and the New Year.WHAT IS FISCAL CLIFF?It's fiscal. As in, relating to government finances. Well, Fed Chairman Ben Bernanke coined the term "fiscal cliff" last February. And it caught on, despite the fact that it doesn't do a very good job of explaining the potential consequences of a failure to reach a deal. After all, the spending cuts and tax changes that would kick in on January 1 wouldn't destroy the economy overnight. They would kick in slowly, and intensify over the course of months. So people are saying that, instead of evoking terror with the name "fiscal cliff," we should call it the "fiscal slope" or the "fiscal obstacle course."President George W. Bush signed a massive round of tax cuts. The tax cuts were supposed to expire ten years later, in 2011. President Obama later extended the expiration date to January 1, 2013. After that, your rates will go back up to the rates you paid in 2001. A bunch of other tax changes, like the expiration of a "payroll tax holiday" and the elimination of some tax credits, will also hit on January 1, meaning that no matter how much you pay now, you'll probably pay more after the new year unless there's a deal.A lot of Republicans think any tax hikes are evil and fascist and anti-growth. And Democrats, led by President Obama, have promised to increase taxes on the wealthy to help close the deficit, while keeping the rates paid by the middle class more or less where they are. So basically, you have plenty of room to hate just about anyone you like.Well, the other major part of the fiscal cliff is the implementation of the sequester. The sequester is a fancy word for a set of deep spending cuts that will kick in automatically in January if there's no deal. These cuts were dreamed up in 2011, when the Budget Control Act was passed, to motivate Democrats and Republicans to work together on a compromise for reducing the deficit by making them scared of what would happen if they didn't.THE QUESTION is how can Zambia reduce its deficit? This is the time Zambian economists should pay attention, watch every activity the Obama government is doing. Well, I know that the economies are different but certain information can help Zambia. Its time Zambia reduces its debt and manage the economy better
