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
This has got to be a mistake, I remember Obama saying: “I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes,” President Obama, September 12, 2008
Of course Republicans will get the blame. That is normal. Let´s face it, the Demon-RATS will say that it´s the Republicans´ fault. The MSM will declare it to be true. The Republicans will try to make their case, but unless you watch Fox News, or read conservative web sites, you will never hear what the Republicans have to say.
As long as a majority of the people in this country get their ´´news´´ from the MSM, Republicans can scream from the rooftops, but they will never be heard.
But the Republicans have nobody but themselves to blame this time for surrendering like French men facing down a troop of Girl Scouts.
Just talked to my daughter and she said the amount taken from her check was astonishing. Her husband has the same problem with his retirement checks. Don´t blame John, he didn´t do this at all. We need to impeach the lousy stinking president.
The Bush tax cuts for the vast majority of tax payers are now permanent. They were made permanent by a large bipartisan majority, and promptly signed by Obama. Horray!
The impication is that the federal governmeent can only collect about 19% of the GDP in taxes. Which means we must reduce federal expenditure to about 19% of GDP. This calls for massive (and real) cuts of about $850 billion from the annual federal budget.
#4,9 and 10, that huge hole in your paycheck is most likely due to the witholding being calculated using the 2001 tax tables. When that paycheck was processed there was no deal yet so the assumption that the Bush tax rates had been revoked had to be made. Expect your pay to miraculously go up in the next check. This article is propaganda pure and simple. and has absolutely nothing to do with the fiscal cliff fiasco. SS has simply been returned to what it had been for decades
Workers earning $30K/yr pay no federal income taxes. They may get money taken out of their checks as the year progresses, but will get all of it back when they file their tax return - and in many cases receive more back than they pay in through federal taxes credits, etc. The fact that we are all returning to 6.2% social security tax rate should bother nobody. Congress - especially the GOP - should never have agreed to lower the rate by 2% in the first place. It was a stupid thing to do at the time. Why didn`t the GOP tell Obama no, if you want to stimulate the economy, lower tax rates!!
How many working people do we have that are making less than the amount which qualifies to pay federal taxes, that are living at home with mommy and daddy, perhaps paying no rent, no food and enjoying a free roof over their heads? Those people may be driving a nice car, cell phone or other toys which they can easily afford on their income but paying no federal taxes? It seems to me they surely should be paying something into the system. Not everyone in the lower tax brackets are struggling to feed a family for 4 or 5.
Obama voters ought to be jubilant. This is what they voted for. If they gripe about having a smaller paycheck, tell them their paycheck is actually larger, as Obama promised. The average Obama voter will believe it and then be happy.
(And wait till their Obamacare insurance premiums show up on their paychecks. This will cement their loyalty to the Democrat Party, as they wallow in the joys of collective suffering. Happy Days are Here Again!)
Everyone who has income, no matter the income, should pay some income tax. Obama likes the phrase, everyone should pay their FAIR share. What is fair about paying nothing. I also believe welfare payments should be taxed same as social security is taxed.
Fair means every state pays their chunk in like it was before the 16th amendment - how the states collect is up to their citizens. And fair means the governments debt ceiling each year is the amount they took in from the states - with the spending to include debt service. Fair means every law passed by congress applies to them as well - and any penalties are automatically elevated to the death penalty for congress and life for bureaucrats if they break a law they put on us. That´s what ´fair´ means to me.
I think that the rise is mostly due to the expiration of the 2% SS ´´tax holiday´´. Neither party had planned to make the holiday into something permanent. So call it a ´tax hike´ if you must but I don´t.
The main folks who got hit were (obviously) those over $450K and also those over $250K regards the hefty Obamacare taxes.
The spending cuts are likely to kick in in the spring. They were merely deferred - not abandoned. Obama and the Dems have little or no leverage on those automatic cuts.
Remember a lot of people making $30K are young and may have kids.
If they do, they pay no federal income tax...AND...they will receive checks for thousand of dollars.
My daughter & SIL had $29K adjusted gross income lst year and ONE child..."refund" check $7500.00 This year they have TWO kids.
They an all their friends,love it and that´s why they voted Obama...even though they have watched us lose our stock, savings and house...AND we had to send an additional $2,000 and a penalty because we didn´t have enough witheld from my husbands drastically reduced paycheck.
I seriously doubt those making over $500,000 are going to get any type of ´´hit´´ at all.
Rich people aren´t stupid, or they wouldn´t be rich. Defer income, hide income, move income off-shore, and basically every accounting trick known and unknown to man are about to get used.
The government may see a small bump in tax revenues this year. But two years from now, tax revenues will go down substantially -- with all those ´´rich´´ people suddenly looking like they are lower middle class on their tax returns.
But that is logical, and requires that you actually look at history to know exactly what is coming. Logic, and looking at anything with an open mind, are two things that lie-berals are incapable of doing!!!
Well...... Those low dollar earners are in for another surprise, once ObamaCare fully kicks in.
You see; up until now.... An employee who received compensation in the form of healthcare insurance, dental insurance, disability insurance, vision insurance (etc) , well, the employee was not taxed on this compensation.
Well, once ObamaCare kicks in...... Sad employee WILL be taxed on these insurance related forms of compensation.
Google is already heavily criticised for trying to know almost everything about us, and now the firm wants to get inside our homes, literally. Engineering director Scott Huffman told The Independent that in his vision of the future Google users would have microphones fitted inside their homes. Huffman envisages houses with microphones fitted to the ceiling that act like personal assistants; responding to voice queries and connecting to phones, tablets and other smart devices. He said: ‘Imagine I say ‘Can you bring up a video of the highlights of yesterday’s Pittsburgh Steelers game and play it on a TV in the living room?’ and it works
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The deaths of two French soldiers in the Central African Republic (CAR) have reminded the world of the deadly seriousness of France’s latest foreign foray to confront Islamists in their former colonies. Hundreds of troops are still in Mali, where they have helped force insurgents out of their northern city strongholds and into the desert. [Snip] While Britain and America continue their disengagement from overseas incursions in Afghanistan and Iraq, it has fallen to the French to take up the challenge posed by the spread of militant Islam in Africa. Long the region’s self-styled policeman, France has experience restoring regimes
Canada Post will phase out home delivery in urban areas over the next five years as the postal service struggles to rein in persistent losses. Under a five-year plan released on Wednesday, the cost of stamps will also rise and as many as 8,000 jobs will be eliminated. But the agency says it will also open more retail locations across Canada. The service faces a projected 1bn Canadian dollar ($943m; £576m) loss by 2020 without "fundamental changes". Canada Post lost C$73m in the third quarter of the current fiscal year, CBC News reported.
The National Security Agency has been accused of using Google cookies to pinpoint targets the government wants to hack. In a NSA presentation slide released by Edward Snowden and seen by the Washington Post, the agency appeared to be using internet tracking techniques usually used by advertisers. While the Pref Cookies reportedly being used don´t reveal personal information, they can uniquely identify a person´s browser. The NSA and GCHQ in the UK have been using the tracking files to identify potential targets who are using the internet, according to the documents. As well as listing visits to websites, the cookies
The US and Britain have suspended all non-lethal assistance in to northern Syria after forces from the new Islamic Front seized headquarters and warehouses belonging to the opposition’s Supreme Military Council. Fighters from the Front, a union of six major rebel groups, took control of the Free Syrian Army (FSA) bases at the Bab al-Hawa crossing on Syria’s northwestern border with Turkey late on Friday. Turkey shut its side of the border crossing, in Hatay province, due to a reported increase in clashes on the Syrian side, customs sources told the Reuters news agency. There was no immediate confirmation from
There’s a YouTube clip I can’t stop watching called “Margaret Thatcher don’t want to jump”. The then Prime Minister has just reached the end of a TV interview, and the presenter is asking her to “make a little jump”. “Why?” It’s “just a gimmick” that all her guests do. Thatcher raises an eyebrow. “I bet that you wouldn’t do it,” says the presenter, becoming at the same time conciliatory, wheedling, insistent. “Just a little jump.” Come on. “Gorbachev did it.” “But what”, inquires the Iron Lady icily, “is the point of it?” “It just shows another side
When I was a kid, I knew two different Santa Clauses. The first had a fat belly, rosy cheeks, a long white beard, and skin as pink as bubble gum. He was omnipresent, visiting my pre-school and the local mall, visible in all of my favorite Christmas specials. Then there was the Santa in my family’s household, in the form of ornaments, cards, and holiday figurines. A near-carbon copy of the first one—big belly, rosy cheeks, long white beard: check, check, check. But his skin was as dark as mine. Seeing two different Santas was bewildering. Eventually I asked my father what
US President Barack Obama may have moved the masses attending Nelson Mandela’s memorial service with his stirring eulogy, but it was his grinning "selfie" with the Danish and British premiers that set social networks abuzz. In a candid moment captured by a photographer, Denmark’s Prime Minister Helle Thorning-Schmidt can be seen holding up her smartphone, with Obama lending a helping hand, as they pose for a picture with David Cameron, all three of them smiling broadly in their seats at Soweto’s World Cup stadium.(Snip)Mashable, the news and technology website, ran the photograph under the headline: ‘‘Dear Obama: Funerals are no place
On his way to the podium at the memorial ceremony for former South African president Nelson Mandela, President Obama walked down the line of dignitaries, greeting other leaders there to pay their respects. Among the hands shaken: that of Cuban leader Raul Castro. Obama neither made a special effort to shake Castro’s hand nor to avoid him. A snub might have been awkward: In his speech, Obama praised Mandela’s “greatest gift” as “his recognition that we are all bound together in ways that can be invisible to the eye; that there is a oneness to humanity; that we achieve ourselves by
The Obama State Department has finally released a second round of photos revealing the harrowing devastation wrought by a terrorist attack on the U.S. Consulate in Benghazi on Sept. 11, 2012. The new photographs depict rampant damage to the consulate. They show charred walls, smoldering fires, Arabic graffiti defacing exterior walls, and scattered debris throughout. The extent of the damage would lead any reasonably serious person to conclude that this was a cold, calculated attack, carefully coordinated to mark the 11th anniversary of Sept. 11, 2001. Unfortunately for the American people, the Obama-Clinton-Rice cabal that led to the Benghazi cover-up was
Johannesburg - A man who provided sign language interpretation on stage for Nelson Mandela´s memorial service, attended by scores of heads of state, was a "fake," the national director of the Deaf Federation of South Africa said on Tuesday. Asked about the claim by The Associated Press, South Africa´s government said it was preparing a statement. Three sign language experts said the man was not signing in South African or American sign languages. South African sign language covers all of the country´s 11 official languages, according to the federation. It wasn´t immediately clear if the unidentified man was using a
A black fashion student says he was brutally attacked by a gang of Hasidic men who shouted anti-gay slurs at him while he was walking through Williamsburg after a night of partying, the Daily News has learned. Taj Patterson, 22, was headed home to Fort Greene around 4:30 a.m. on Dec. 1 when he says more than a dozen ultra-Orthodox Jewish men began assaulting him on Flushing Ave. and yelling, “Stay down, f----t!”
House Speaker John Boehner (R-Ohio) snapped at conservative groups that have come out in opposition to the budget deal reached Wednesday between Rep. Paul Ryan (R-Wis.) and Sen. Patty Murray (D-Wash.). "They´re using the American people for their own purposes. This is ridiculous," Boehner said at a press conference with other members of House Republican leadership on Wednesday. Over the past few days, a number of conservative groups have blasted the deal because it sets discretionary spending levels in the budget higher than previous levels under sequestration. In the past three days, the influential Heritage Action, Club for Growth, Americans