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If US falls off 'fiscal cliff,' economy could get soft landing ? or dizzy dive onto the rocks (Star Tribune)

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Biden To Rally Senate Dems (talking-points-memo)

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Top 5 Music Industry Stories You Missed Over The Holiday Break ...

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Pakistan child measles deaths surge in 2012

KARACHI, Pakistan (AP) ? Measles cases surged in Pakistan last year with hundreds of children dying of the disease, an international health body said Tuesday, as health officials said they had launched a new vaccination campaign in the affected areas to immunize hundreds of thousands of others.

Pakistan struggles with a beleaguered health care system, unsanitary conditions in many parts of the country and a lack of education about how to prevent disease. All those factors make it difficult to combat infectious diseases such as measles and polio.

A spokeswoman for the World Health Organization, Maryam Yunus, said that 306 children died in Pakistan of measles in 2012, compared to 64 the year before.

She said the jump was most pronounced in southern Sindh province, where measles killed 210 children in 2012. She said only 28 children died there in 2011.

The World Health Organization did not give a reason for the increase in deaths, but a provincial health official in Sindh said that the disease hit areas where poor families did not vaccinate their children.

Provincial health minister Saghir Ahmed said 100 children died in Sindh province in December alone, mostly in areas where many people were not vaccinated.

He said health officials recently launched a campaign to vaccinate 2.9 million children in the affected areas of the province and urged parents to get their children vaccinated.

Many Pakistanis, especially in rural areas, view vaccinations campaigns with suspicion as a western plot to sterilize Muslims. In December, nine health officials working to immunize Pakistanis against polio were killed by militants opposed to the campaign. Pakistan is one of three countries in the world where polio is endemic.

Sindh province, the hardest hit area by the measles outbreak, has also been battered by repeated floods in recent years that have damaged hospitals and clinics.

Measles is an extremely infectious disease spread by coughing and sneezing, or personal contact. It causes a fever, cough and a rash all over the body. Most people who contract the disease recover but it can be deadly for malnourished children who have not been vaccinated.

Complications from the disease can include blindness, an infection that causes brain swelling, dehydration and diarrhea, and pneumonia. According to WHO, 139,300 people died of measles worldwide in 2010.

Source: http://news.yahoo.com/pakistan-child-measles-deaths-surge-2012-064050118.html

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Despite deal, taxes to rise for most Americans

President Barack Obama and Vice President Joe Biden make a statement regarding the passage of the fiscal cliff bill in the Brady Press Briefing Room at the White House in Washington, Tuesday, Jan. 1, 2013. (AP Photo/Charles Dharapak)

President Barack Obama and Vice President Joe Biden make a statement regarding the passage of the fiscal cliff bill in the Brady Press Briefing Room at the White House in Washington, Tuesday, Jan. 1, 2013. (AP Photo/Charles Dharapak)

As an evening haze lights the sky with a reddish glow, the lights of the U.S. Capitol burn into the night as the House continues to work on the "fiscal cliff" legislation proposed by the Senate, in Washington, on Tuesday, Jan. 1, 2013. (AP Photo/Jacquelyn Martin)

(AP) ? While the tax package that Congress passed New Year's Day will protect 99 percent of Americans from an income tax increase, most of them will still end up paying more federal taxes in 2013.

That's because the legislation did nothing to prevent a temporary reduction in the Social Security payroll tax from expiring. In 2012, that 2-percentage-point cut in the payroll tax was worth about $1,000 to a worker making $50,000 a year.

The Tax Policy Center, a nonpartisan Washington research group, estimates that 77 percent of American households will face higher federal taxes in 2013 under the agreement negotiated between President Barack Obama and Senate Republicans. High-income families will feel the biggest tax increases, but many middle- and low-income families will pay higher taxes too.

Households making between $40,000 and $50,000 will face an average tax increase of $579 in 2013, according to the Tax Policy Center's analysis. Households making between $50,000 and $75,000 will face an average tax increase of $822.

"For most people, it's just the payroll tax," said Roberton Williams, a senior fellow at the Tax Policy Center.

The tax increases could be a lot higher. A huge package of tax cuts first enacted under President George W. Bush was scheduled to expire Tuesday as part of the "fiscal cliff." The Bush-era tax cuts lowered taxes for families at every income level, reduced investment taxes and the estate tax, and enhanced a number of tax credits, including a $1,000-per-child credit.

The package passed Tuesday by the Senate and House extends most the Bush-era tax cuts for individuals making less than $400,000 and married couples making less than $450,000.

Obama said the deal "protects 98 percent of Americans and 97 percent of small business owners from a middle-class tax hike. While neither Democrats nor Republicans got everything they wanted, this agreement is the right thing to do for our country."

The income threshold covers more than 99 percent of all households, exceeding Obama's claim, according to the Tax Policy Center. However, the increase in payroll taxes will hit nearly every wage earner.

Social Security is financed by a 12.4 percent tax on wages up to $113,700, with employers paying half and workers paying the other half. Obama and Congress reduced the share paid by workers from 6.2 percent to 4.2 percent for 2011 and 2012, saving a typical family about $1,000 a year.

Obama pushed hard to enact the payroll tax cut for 2011 and to extend it through 2012. But it was never fully embraced by either party, and this time around, there was general agreement to let it expire.

The new tax package would increase the income tax rate from 35 percent to 39.6 percent on income above $400,000 for individuals and $450,000 for married couples. Investment taxes would increase for people who fall in the new top tax bracket.

High-income families will also pay higher taxes this year as part of Obama's 2010 health care law. As part of that law, a new 3.8 percent tax is being imposed on investment income for individuals making more than $200,000 a year and couples making more than $250,000.

Together, the new tax package and Obama's health care law will produce significant tax increases for many high-income families.

For 2013, households making between $500,000 and $1 million would get an average tax increase of $14,812, according to the Tax Policy Center analysis. Households making more than $1 million would get an average tax increase of $170,341.

"If you're rich, you're almost certain to get a big tax increase," Williams said.

___

Follow Stephen Ohlemacher on Twitter: http://twitter.com/stephenatap

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2013-01-02-Fiscal%20Cliff-Tax%20Impact/id-5de1868c32c54e4bbea6199c8c339e50

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Just listened to Ms. Mezaun's radio interview over.. - InvestorsHub

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Unemployment Benefits Lapse 'An Absolute Travesty,' Democrats Say

WASHINGTON -- Congressional Democrats on Sunday lamented that Congress has stranded 2 million jobless Americans by failing to reauthorize long-term unemployment insurance before it lapsed on Saturday.

"An absolute travesty," Rep. John Larson (D-Conn.) said. "Some of them on the other side are saying, 'We've got a scheduling issue, with trying to get back for New Year's' -- come on, what about these people?"

Larson, a member of the Democratic leadership team in the House of Representatives, blamed Republicans for holding up a solution to the "fiscal cliff" -- the moment at the end of the year when big tax hikes and spending cuts are scheduled to take effect.

"They're at war with their own government, and so they believe to hold up the government, to put everybody up to the cliff, to play chicken politics, is the way that they have governed," Larson said. "They haven't done a thing. That is why the institution has its lowest rating in its history, because they don't believe in this process."

During recessions, Congress routinely makes federal unemployment insurance available for workers who use up six months of state-funded benefits while looking for jobs. The federal benefits, which last 47 weeks in states with high unemployment rates, lapsed on Dec. 29 thanks to congressional inaction. According to the National Employment Law Project, a worker advocacy nonprofit, more than 2 million workers have received their final checks.

"We're talking about over 2 million people that will be impacted next week," Rep. Sandy Levin (D-Mich.) said. "The checks that are missed will not come next week unless we act."

Congress has allowed federal compensation to lapse before -- once for seven whole weeks in 2010. After the benefits were reauthorized, beneficiaries received lump sum payments for the weeks they'd missed. Congressional Democrats and President Barack Obama have been adamant that a reauthorization of the jobless aid be a part of any fiscal cliff deal.

HuffPost asked Levin if it was just a matter of time.

"It should be done now," he said. "I don't want to put it off. It should be done now."

Republicans haven't said much about unemployment insurance, which suggests to many observers that they won't put up too huge a fight about keeping the benefits. But Rep. Reid Ribble (R-Wis.) suggested on Sunday that he might like to see some concessions from Democrats in exchange for renewing them.

"I think we need to revisit unemployment benefits," Ribble said. "We need to make sure long term unemployed, that we don't leave them completely in the lurch, but on the same hand, you can't continue to pay people not to work forever ... I think some decrease, some reduction in the deadline would be a good negotiating spot."

Republicans won reductions early in 2012, when the maximum combined duration of state and federal benefits went from 99 to 73 weeks. Laid-off workers in only nine states are eligible for the full 73 weeks.

The Congressional Budget Office has estimated that keeping the benefits through 2013 would cost $30 billion and generate significant economic growth.

"I don't see how we can not do it," Rep. Charles Rangel (D-N.Y.) said. "It's not just because it's the right and moral thing to do, but as it relates to the economy and disposable income and the fact that you get more return back into the economy ... I really think it's going to happen. [Republicans] aren't talking about it, I think, because they've accepted it."

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Source: http://www.huffingtonpost.com/2012/12/31/unemployment-fiscal-cliff_n_2388316.html

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