Skip to comments.Despite fiscal cliff deal, taxes to rise for most Americans
Posted on 01/04/2013 5:57:34 AM PST by RC one
The expiration of a two-year payroll tax cut means that someone earning $50,000 will pay $1,000 more a year in federal taxes.
WASHINGTON (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.
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.
(Excerpt) Read more at nydailynews.com ...
Barack Hussein Obama
Quick, somebody look at Obama's pants, they're probably on fire.
Hello, Fox News. Hello? Hellloooo.
Barrack Hussein Obama
Barrack Hussein Obama
...not any of your taxes. -- Barack Hussein Obama
First weekly take-home paycheck of the year went down $2.71, and I'm at the bottom end of "middle class". Since only four days of 2013 is in this check, I expect a larger drop next week. Thank you, pResident Obama, for keeping your promises.
(And the increases in my taxes have just started.)
This article points out everything that is screwed up with how Americans view our fiscal policy. First, Social Security is allegedly a social insurance system. People should be paying in at a rate that will pay for the benefits they get. Social Security tax reductions are the same as not contributing to your IRA or 401k.
Second, the article leaves unsaid that this “Fiscal Cliff Deal” did not address the fundamental problem — that Americans want spending at a certain level and are unwilling to pay for it. If America truly wants Obama’s Socialism, there is going to have to be a huge Middle Class tax hike to pay for it. Way too many people don’t understand that and think that this silly tax hike on “the rich” is going to solve everything.
And finally, people should have been expecting a tax increase. They voted the Dems back into office which means that Obamacare is going to take effect. Were people stupid enough to think that Obamacare wasn’t going to hike their taxes?
The thing about this two percent tax hike is this, I received a 2% COLA raise a couple of months ago. The Cost of Living probably increased at least 3%. No Obama has taken the 2% away so, when you add Obama's hidden 3% inflation tax to his blatant 2% hike, I have just taken a 5% hit in my weekly paycheck.
There will be much future discussion about all of this I think and I think the Democrats are gonna spend a lot of energy explaining away this one.
Despite being shot in the head 5 times, the man still died
Despite losing his job, the man still found it hard to make ends meet.
Despite running out of gas, the man was unable to complete his journey.
Despite fiscal cliff deal, taxes to rise for most Americans.
The second part of the statement is really inherent in the first part of the statement. The “despite” thing is just to throw people off the scent.
Obama will blame this on Republicans. The media will dutifully comply. By July the GOP will be agreeing to apply the FICA tax to very high levels of income in exchange for cutting it back to 2012 levels.
Well even zero must worry about paying for his vacations so quit complaining and pay your fair share for the takers..including the biggest takers ever: The Great And Glorious Leaders The Obamas.
I got a 3% raise...
...but lost ground with the SS increase
...and Obamacare caused healthcare to go up a bit
...Gov. Sam Brownback reduced my state taxes, yeah!
....so I make an aditional $17 a pay period.
I consider myself lucky.
You're right. This is more accurate.
I found that first paragraph interesting too:
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.
So, in other words, we didn't raise your taxes but don't be surprised when your taxes go up starting with your next paycheck.
I remember when George H.W. Bush said "read my lips, no new taxes" and then got fired for breaking that pledge after the media threw that in America's face for months on end. Not a peep about this though.
Why doesn’t the GOP runs some ads showing Obama vowing that those making under $200,000 would not see one dime of tax increase with the caption “Has your paycheck changed lately?”. Perhaps such an ad campaign might sway a few of the more intelligent “low information” voters.