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Middle Class Taxes Just Went Up
USNews ^ | January 2, 2013 | Rick Newman

Posted on 01/03/2013 9:38:08 PM PST by RC one

Obama Breaks Promise to Not Raise Taxes on the Middle Class.

The headline news from the recent deal to avert the fiscal cliff is that Congress is raising tax rates on wealthy individuals for the first time in nearly two decades. Less noticed is something that may be equally momentous: Congress just raised taxes on the middle class as well.

virtually every worker will still get a smaller paycheck in 2013, because of another tax measure that expired. Beginning in 2009, Congress cut the payroll tax—which helps finance Social Security—to put a bit of extra spending money in workers' pockets. The law was changed and extended, with the latest version cutting the tax from 6.2 percent of income to 4.2 percent. Congress has now allowed it to lapse for good.

So in 2013, the rate will rise back to 6.2 percent and most workers will have an additional two percentage points of their income automatically deducted from their paychecks. It's easy for anybody to figure out how this will affect them—just calculate 2 percent of your gross pay, up to the 2013 limit of $113,700. For the typical worker earning about $50,000, the reversion to 6.2 percent will cost about $80 per month, or $1,000 per year. The most it could cost anybody is about $2,300

(Excerpt) Read more at brainyquote.com ...


TOPICS: Society
KEYWORDS: liar; middle; obamanomics; payroll; soshsecurity; tax; taxes
I will cut taxes - cut taxes - for 95 percent of all working families, because, in an economy like this, the last thing we should do is raise taxes on the middle class.

Barack Hussein Obama

and then he raised taxes on every middle class working stiff in the country.

1 posted on 01/03/2013 9:38:19 PM PST by RC one
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To: RC one

He didn’t sign that bill. The autopen did.


2 posted on 01/03/2013 9:50:11 PM PST by rfp1234 (Arguing with a liberal is like playing chess with a pigeon.)
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To: RC one

How is brainyquote.com out of US news? Who is US news? I was wondering if they were the old US News & World Report.

Thinking here that some non-conservative sources are catching on to having gotten the business from obumma.


3 posted on 01/03/2013 9:54:53 PM PST by RitaOK ( VIVA CHRISTO REY / Public education is the farm team for more Marxists coming.)
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To: RC one

Women, children and minorities hit hardest!


4 posted on 01/03/2013 9:55:46 PM PST by TigersEye (Who is John Galt?)
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To: RC one

What middle class ?


5 posted on 01/03/2013 10:08:44 PM PST by Morris70
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To: TigersEye

Women & Minorities? Are’nt those Obama voters?


6 posted on 01/03/2013 10:20:17 PM PST by entropy12 (The republic is doomed when people figure out they can get free stuff by voting democrats)
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To: entropy12

Probably.


7 posted on 01/03/2013 10:28:06 PM PST by TigersEye (Who is John Galt?)
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To: RC one

This is the first shoe to drop. Next year Obamacare officially kicks in.


8 posted on 01/03/2013 11:18:24 PM PST by jmacusa (Political correctness is cultural Marxism. I'm not a Marxist.)
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To: jmacusa

Boehner and company may get the blame for this and we may lose our majority in the house in 2014 because of it. Never mind the Rats who voted for it - they will be excused as usual.


9 posted on 01/04/2013 12:28:51 AM PST by Catsrus
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To: jmacusa

yep. taxmageddon, dead ahead.


10 posted on 01/04/2013 3:53:19 AM PST by RC one (From My Cold Dead Hands.)
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To: RC one

There were a number of Red Hampshire Obamabots squealing like pigs when they got their first checks of the new year...you OWN it...quit bitching.


11 posted on 01/04/2013 3:57:36 AM PST by who knows what evil? (G-d saved more animals than people on the ark...www.siameserescue.org.)
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To: RC one
...and then he raised taxes on every middle class working stiff in the country.

Yep, my paycheck is noticeably smaller today. But the mainstream media is telling me Obama saved the middle class! /sarcasm

12 posted on 01/04/2013 5:22:45 AM PST by IndyTiger
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To: RitaOK

Brainyquote was bought out by US News who sold it to GE who outsourced it to China.


13 posted on 01/04/2013 8:07:47 AM PST by TurboZamboni (Looting the future to bribe the present)
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To: RitaOK

http://www.usnews.com/news/blogs/rick-newman/2013/01/02/middle-class-taxes-just-went-up


14 posted on 01/04/2013 8:11:17 AM PST by TurboZamboni (Looting the future to bribe the present)
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