Posted on 04/09/2013 8:26:37 PM PDT by logi_cal869
White House spokesman Jay Carney not disputing Obama budget would raise taxes on middle class Americans.
The White House has confirmed that President Obamas forthcoming budget contains an income tax increase on middle class Americans.
During a Friday, April 5 White House press briefing, spokesman Jay Carney replied Im not disputing that when asked if a particular Obama budget proposal would raise income taxes on the middle class.
The proposal in question is known as Chained CPI. The term is a Beltway euphemism for measuring inflation at a different, slower pace. Many tax and budget items are indexed to inflation, so slowing inflations measured rate of growth has both spending cut and tax increase implications.
On the tax side, all income tax brackets are subject to inflation. Slowing down the inflation rate slows down the annual rate of growth in all income tax brackets.
This means the Obama budget contains a tax increase on 100 percent of middle class taxpayersanyone who pays the federal income tax.
(Excerpt) Read more at atr.org ...
The rich can delay taxes.
The poor doesnt pay taxes.
Only one class has to draw a salary each and every week: the middle class.
We pay for everything.
A late acquaintance of mine once wrote a book “You Can Trust the Communists to Be Communists”.
Substitute the name Obama for Communists and you will understand what is going on from the White House.
Surprise, he lied!
Again.
And the Sheeple farted, thereby contributing to AGW.
President Obama is not well misunderstood.
Much obliged. I have to conclude that this “tax increase on 100% of the middle class” statement is, at best, overreaching. Almost by definition, if you’re nicked by AMT, that’s proof enough that you’re not making “middle class” money.
Similarly, any indexing of the Standard Deduction from one year to the next affects more but still nowhere near “100%”, as some use it and some don’t. Even non-AMT bracket creep certainly cannot affect 100% — we all know that less than 100% of middle class incomes are keeping up with inflation, whether it’s measured accurately or not, and far fewer than whatever percentage that actually is are close to any of the brackets anyway.
I don’t know what seems so obvious to Ed Harris.
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