Barack Obama's second term hasn't even started, but in a single stroke, thousands of Americans have fallen from the ranks of the wealthy. It's just like the dispossession of the Russian nobility under the Bolsheviks, except instead of being exiled to Siberia these former rich people are being reclassified as middle-class and getting an extension of the Bush-era tax rates.
For years, Obama and his fellow Democrats have insisted that couples making more than $250,000 a year should pay taxes at Clinton-era rates. But under the terms of the fiscal cliff deal adopted last night, households will have to earn $450,000 before a single dollar is taxed at the 39.6% rate. Knowing whether or not you're rich can be difficult under Obama's brand of Sharia socialism! Let this handy questionnaire be your guide.
Tags: Fiscal Cliff, House of Representatives, Money, Senate, Taxes
The fiscal cliff deal passed by the Senate on New Year's morning became final late Tuesday when the House of Representatives approved the agreement on a 257-167 vote, with almost all Democrats joining 85 Republicans in voting for the measure.
But in case you were worried that the new year would bring an end to congressional dysfunction, the U.S. House of Representatives would like to remind you that there is no relief from the rolling disaster that is the legislative branch. Speaker John Boehner issued this poignant reminder by cancelling a vote on the Sandy disaster aid bill that was scheduled for a vote before the swearing-in of the new Congress on Thursday.
GOP lawmakers blamed inaction on the Senate, which they claim filled the $60 billion aid package with unrelated initiatives.
"They had the opportunity to have a $27 [billion] to $30 billion dollar legit relief package, packed it with pork, then dared us not to vote on it," said the same guys who had no problem voting for abortion restrictions attached to defense spending bills and restraints on the EPA attached to transportation appropriations.
Photo by Win McNamee/Getty Images News/Getty Images
Tags: Darrell Issa, House of Representatives, Hurricane Sandy, John Boehner, Republicans
* This astronaut wrote a Christmas song.
* Hawaii loves their Obaminal Snowman.
* The 2012 coming out party was awesome.
* President Obama loves to embarrass his kids.
* The origin of the teddy bear, from Laughing Squid.
* Relax! I finally found the dumbest article explaining the fiscal cliff.
* The Christmas edition of the Professor Blastoff podcast features Ira Glass.
* From The Onion, Paul Ryan ups Congress' heart rate with a new exercise video.
Tags: Daily Links, Fiscal Cliff, House of Representatives, LGBT, Malia Obama, New Yorker, Sasha Obama, The Onion, Theodore Roosevelt
The new year is almost upon us, and that means a new (possibly less do-nothing-y?) session of Congress. We've already profiled four departing lawmakers we'll miss terribly: Ron Paul, Scott Brown, Dennis Kucinich and Joe Lieberman, or as we call them, three gnomes and a truck driver.
But there are oh so many more. Here's our special send-off for the rest of 2012's outgoing Congresspeople. Stay funny, guys.
Rep. Barney Frank (D-MA)
Best known for: Working to make affordable mortgages available during the housing crisis; consumer advocacy and protection; gayness; communism.
What the future holds: Pahking his cah wherever the Tea Party isn't.
See them all here!
Photo by Jay Mallin/Bloomberg – Contributor/Getty Images
Tags: House of Representatives, Senate