Weekend Reading December 21, 2012
Merry Christmas!
With the holiday season in full tilt I haven’t been able to write as much as I would have liked over the past week. However, I should have some new articles (and another annuity review) for you after Christmas. Until then, check out these articles and have a Merry Christmas and a Happy Holiday!
Best,
Dieter
Doomsday Tourism Booms In Mexico
As many of you I’m sure have heard, today is the supposed “End of the World.” The Mexican government has taken advantage of this end of days belief with a marketing campaign that has spanned the past few years. With all of the buzz around the Mayan calendar, tourism has been booming around Mayan communities and temples.
Fallout From Fiscal Cliff Inaction
With ten days left before the end of the year, Congress has yet to take action about the fiscal cliff. This inaction could not only cause taxes to be raised for everyone, but millions of tax refunds could be delayed and many could even see a decrease in pay. Doctors’ paychecks could decrease if no change is made to the laws governing Medicare and Medicaid payment claims to doctors. Doctors could see as much as a 27% cut in pay. Payroll processors are also unsure of how much they should withhold from employees’ paychecks. If no word from Congress is given, payroll processors are likely to utilize 2012 withholding tables.
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Republicans Push Own “Fiscal Cliff” Plan; Talks Frozen
The Republican Party’s “Plan B” fiscal cliff plan is unlikely to be passed after President Obama stated he would veto the bill. However, Plan B is a turning point in the stance of the Republican Party, namely the support for a tax increase on taxpayers earning more than $1 million each year. Republican support for lower taxes remains staunch and Democratic support for entitlement reform low, it will be difficult for the two parties to come to terms with one another.
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