The voice of reason:
It is unfathomable a Congressman would vote for a Bill - a tax Bill of this magnitude - without knowing whether a Bill existed or before laying eyes on what the Bill does to The American People. This asinine and self-serving Congressional no-brainer HAS to stop.
Remember these votes when you vote again. These Congressmen do not deserve to be paid. Fire them.
'We borrow $50,000 every second. That's why America is going to get downgraded.'
If you draw a paycheck you're already feeling the extra 2% deducted from your take home pay because of this Bill. These taxes hit 77% of ALL Americans, not just Obama's so-called "wealthy." Brace yourself for more added Obamacare taxes & fees that kick-in now on services like celll pones and internet, too.
Still think Obama "helped" the Middle Class? And he's not done yet, he has already assured us of that. Are you applauding the government attack on America's most successful and productive? The Middle Class comes next, as if this blow wasn't bad enough.
Paying for Obama spending HAS to come from somewhere. These tax increases are not enough to pay for what he's already spending. You can take ALL of the wealthy's money and that still is not enough to pay for Obama's spending. It is that simple.
We have a debt crisis. You'll be paying for that, because you are all that's left TO pay for it. Not the wealthy. You. This is just the beginning.
Workers making $30,000 will take a bigger hit on their pay than those earning $500,000 under new fiscal deal
Middle-class workers will take a bigger hit to their income proportionately than those earning between $200,000 and $500,000 under the new fiscal cliff deal, according to the nonpartisan Tax Policy Center.
Earners in the latter group will pay an average 1.3 percent more - or an additional $2,711 - in taxes this year, while workers making between $30,000 and $200,000 will see their paychecks shrink by as much as 1.7 percent - or up to $1,784 - the D.C.-based think tank reported.
Overall, nearly 80 percent of households will pay more money to the federal government as a result of the fiscal cliff deal.
'The economy needs a stimulus, but under the agreement, taxes will go up in 2013 relative to 2012 - not only on high-income households, as widely discussed, but also on every working man and woman in the country, via the end of the payroll tax cut,' said William G. Gale, co-director of the Tax Policy Center.
'For most households, the payroll tax takes a far bigger bite than the income tax does, and the payroll tax cut therefore - as [the Congressional Budget Office] and others have shown - was a more effective stimulus than income tax cuts were, because the payroll tax cuts hit lower in the income distribution and hence were more likely to be spent,' he added.
When the deal was passed by Congress late Tuesday, President Obama said it prevented 'a middle class take hike that could have sent the economy back into recession' and have a 'severe impact' on American families.
'Under this law, more than 98 percent of Americans and 97 percent of small businesses will not see their income taxes go up,' he said.
To the contrary, the Tax Policy Center says roughly 70 percent of Americans will see their income taxes rise as a result of the deal. They won't rise as much as they would have if no deal had been reached and the fiscal cliff was triggered, but they will go up nonetheless.
Click here for complete article and enlarged graphs.










Comments: 31
I can't see why the left cannot let go of their idol. Soros is the mind behind this. Obama is not smart enough. He just has a big mouth and he can lie with a straight face and convincing tongue.
It all makes Obama's taqiyya, of insisting he'd "save" the Middle Class, the clear bunch of bunk it was, that's for sure. And it can't stop with this "tax the wealthy" Bill, MORE has to come out of the Middle Class to be able to pay for the spending he's already put in this Bill alone. As he said in his speech, he is not done taxing yet.
SS went from 4.2% to 6.2% - that does NOT equate to 200% increase in the dollar amount.
Even in our generation SS was seen as threatened, that's how long Progressives have been putting off fixing it. That's why its so critical to fix it now, so your son's generation WILL have a decent form of SS to rely on. I hope he understands that when he votes.
They are including all people that file tax returns, and retired people pay no social security in, so the 2% increase is diluted.
or - did they also switch from weekly checks to bi-weekly?
If that earned income is over a certain amount, I pay taxes etc on it. I still have to file a return.
But SS payments to you are not subject to SS tax - and as I recall neither are many other types of payments.
You bring up a subejct that my tax man keeps dismissing. I've heard other people say they "don't have to file a return" after they're retired. What are those qualifications, I never understand that. Is it simply because of earned income from a part time job? If he doesn't do part time work, then would he not need to file either?
That was what skewed the numbers - many people who have stopped paying IN to SS, because they draw SS benefits - still pay FIT. I was wondering how paychecks could only decrease by 1.3 or 1.7%, when the SS increase alone was 2% - forgetting that nopt all taxpayers still pay into SS. There are also all the people on PUCO or RR, that do not pay into SS, so the 2% increase does not effeft them either. (Since they never got the reduction).
Therefore, the 2% lowering, and now increasing, of FICA with-holding did not effect them.
Next problem please ... lol.
My pittance from my disability insurance (which was to be 70% of the salary I had 10 years ago, but is reduced by the SS I get) is counted as earned income, but does not cover the deduction and dependants.
Thank GOD none of it is subject to SS/Medi payments (8 1/2? about)- I would not be able to live at all!
...Classic.
However, the worst of it, Fren? Even morons (Leftists) who experience a loss of pay will cheer, that they are finally "sticking" it to "the rich."
Our finances are going to suck this year (and beyond). Taxes up, of all sorts - including township and county. Utility costs up. Insurance premiums up - all kinds - health, homeowners... Gas prices. Food prices. I forget what I bought the other day, but it blew my mind. Oh, yeah. A bag of chips. We don't often have any kind of chips in the house, so I had no idea that the packages had shrunk and the prices about doubled from the last time I bought a bag. Wow. (I knew that about chocolate....being a woman. :) )
I don't know what will get to people.
We borrow $50,000 every second.
That should get to everyone. But....when you have about half the country not paying income taxes, and getting help from the government, what do they care. They only want more.
You know what food cost shocked me? I love to bake pies in the winter so I kept canned fillings on hand. Those suckers cost $4.79/ea! Heck, you can buy a prebaked pie for $4.99. Makes you wonder why they're heading us in that prepared food direction, what chemicals are in them to do what, yada, yada.
Someone here the other day accused me of not wanting ObamaWorld because I only wanted to keep my big bucks. I literally snort-laughed. Then I got to thinking. You know, our earned income is probably less than what the average freeloader is said to receive in entitlements benefits from our taxes. Now go figure that.
Why work?
You'll appreciate this morning's new article. It'll make you feel better.
They tax us more so they can spend more... Does this make sense? When they can cut out the waste and have much money left over... Wouldnt he look like a hero if he were only smart enough to do this... I wish they would let me balance that darn budget, they act like its Rocket Science... Those people that have had to scrimp and save could get us out of this spending mess... Overspending can be a sign that one has serious emotional problems... Its almost like having a hoarding problem...