Sunday 21 October 2012

40. Remeber Thelma and Louise?

You probably do not, because you are too young. It is a 1991 movie directed by Ridley Scott (of the Alien fame). Two women are on a run and they end up, on purpose, driving  towards the Grand Canyon and (spoiler alert!) plunging to their deaths.

Now you will know what politicians mean when they say "we will avoid the Thelma and Louise ending". By the way, the film terminology is popular: the "fiscal clliff tax increases" are called Taxmageddon.

This article discusses the expiry of the payroll tax cut. American workers pay the tax at the  rate of 6.2% of earnings up to $110 000. The tax has been temporarily reduced to 4.2%. Its extension is not likely as neither party has proposed it.



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