With Fiscal Cliff deadline just hours away, Boise small-business owner has message for Obama, Congress
Eric Fink has the story. Video by IdahoOnYourSide.comvideo
If President Obama and lawmakers in Congress fail to compromise and come up with a plan before midnight Monday to avert the so-called Fiscal Cliff, every American, in some form, could feel the effects of $536 billion in tax increases.
The Fiscal Cliff also includes $110 billion in spending cuts. And, millions of Americans including thousands of Idahoans could lose their unemployment insurance.
Congressional leaders continue to work on a deal. As the hours go by, one Boisean has a concise message for leaders in Washington.
"Somebody's got to give," Boise small-business owner Bruce Poe said.
Like most of his fellow citizens, Poe doesn't understand the ins and outs of the Fiscal Cliff. But, without an agreement from President Obama and federal lawmakers, the Boisean could soon pay thousands of dollars more a year in income taxes.
According to a study conducted by the non-partisan Tax Policy Center, if negotiations between republicans and democrats break down, leaving our nation's economy continuing to plummet off the cliff well past the beginning of 2013, Poe will see his taxes increase by around $2,400.
"I don't feel very good about that," Poe said. "I mean every penny counts right now to keep a business open and keep the work flowing. Small businesses right now are not getting much help."
Disgruntled by the impasse atop Capitol Hill, this business owner came up with his own definition of the Fiscal Cliff.
"It's the inability for politicians to compromise and cooperate," Poe argued. "Frankly I'm tired of it and I think most of the Americans in this country are tired of it, also."