What is the fiscal cliff and what does it mean for you? Owen Malcolm from United Capital stopped by Good Day Atlanta on Monday to spell out how it could affect consumers, investors and the nation.
Information: If the fiscal cliff is reached...
For a family making $60,000 a year, the federal tax rate jumps from 14 percent to 17.8 percent. Taxes could increase by $2,000, payroll taxes increase by 2 percent and the child tax credit drops to $500 maximum per child.
For the nation, it could cause a recession, and the US economy could shrink. It may mean fewer jobs, taxes go up and the economy goes down.
For investors, most Americans will pay more taxes; new taxes related to the Affordable Care Act; changes in the Alternative Minimum Tax and estate taxes will go up for some.
Friday, May 24 2013 10:03 AM EDT2013-05-24 14:03:16 GMT
A new exhibit in Atlanta is providing an encounter that you "otter" see. The new Georgia Aquarium exhibit offers guests a view of the popular animals that has never been seen before.
A new exhibit in Atlanta is providing an encounter that you "otter" see. The new Georgia Aquarium exhibit offers guests a view of the popular animals that has never been seen before.
Friday, May 24 2013 9:43 AM EDT2013-05-24 13:43:19 GMT
There's never any shortage of food in the FOX 5 newsroom, but on Fridays, it's in the parking lot!
There's never any shortage of food in the FOX 5 newsroom, but on Fridays, it's in the parking lot! This week, Sweet Auburn BBQ joined us for Food Truck Friday, and they got the holiday weekend started right with wings.
Friday, May 24 2013 9:11 AM EDT2013-05-24 13:11:19 GMT
Lookin' to put on a fantastic party this Memorial Day weekend? Don't forget to jazz up your patio before you light that grill.
Lookin' to put on a fantastic party this Memorial Day weekend? Don't forget to jazz up your patio before you light that grill. Lucky for you, our friends from Pike Nurseries have a ton of ideas for how you can get your outdoor space ready for the holiday festivities.
Friday, May 24 2013 8:58 AM EDT2013-05-24 12:58:06 GMT
Georgia residents interested in visiting a natural wonder like the Grand Canyon don't have to travel very far.
Georgia residents interested in visiting a natural wonder like the Grand Canyon don't have to travel very far. Located just 150 miles from Atlanta, Providence Canyon may be the perfect summer day trip.
Friday, May 24 2013 8:12 AM EDT2013-05-24 12:12:38 GMT
Lots of college and high school graduates are celebrating their accomplishments as they receive hard-earned diplomas.
Lots of college and high school graduates are celebrating their accomplishments as they receive hard-earned diplomas. So, we're going retro to see what our Good Day crew looked like back in the day (and maybe embarrass them just a little)!
Friday, May 24 2013 7:42 AM EDT2013-05-24 11:42:08 GMT
The Centers for Disease Control says that every 19 minutes, one person in the U.S. dies from a prescription drug overdose.
The Centers for Disease Control says that every 19 minutes, one person in the U.S. dies from a prescription drug overdose. The state of Georgia is trying to do something about the problem, so they've just launched an awareness campaign focused on education and prevention.
Friday, May 24 2013 7:41 AM EDT2013-05-24 11:41:05 GMT
It's Memorial Day weekend, and you know what that means: hamburgers, pools, and yes-- big-time sales.
It's Memorial Day weekend, and you know what that means: hamburgers, pools, and yes-- big-time sales. This weekend marks one of the biggest for sales amongst retailers, and no matter where you shop, there's a good chance they're offering a deal.
Thursday, May 23 2013 10:09 AM EDT2013-05-23 14:09:40 GMT
You might have dreamed about getting the chance to decide which of your coworkers should stay on the job, and which ones need to go.
You might have dreamed about getting the chance to decide which of your coworkers should stay on the job, and which ones need to go. Does Someone Have to Go? is a new FOX reality show that lets employees take over for their bosses, and it premieres Thursday night!
1551 Briarcliff Rd., NE Atlanta, GA 30306
Main Number: (404) 875-5555 News Tips: (404) 898-0100
