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This was a given even before the so called fiscal cliff fiasco !!!

The entire "fiscal cliff" debacle was bogus in the first place. The tax increases were going to hit the middle class, regardless; and watch where and if the cuts hit, it won't be in social programs!!!!!!!!

Fiscal Cliff Deal Raises Taxes on Almost 80% of Households
Bert Atkinson Jr. January 4, 2013 7:29 pm










Yay. Those super rich pricks that never pay anything in taxes just got their taxes raised! Now it’s fair in America, as Obama wants it, right? The rich pay more, the middle class sees no tax hike, and we start chipping away at the debt starting now, right?

Nope.

This new ‘deal’ that Obama is praising as a victory carries a tax increase in there that actually hurts the middle-class worse than those that fall in the $200k-500k range.


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.

This is largely because of the payroll tax, which will jump from 4.2 percent up to 6.2 percent – its level from 2010. As William G. Gale, the co-director of the Tax Policy Center, points out, “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 cu{1}**** lower in the income distribution and hence were more likely to be spent.”

Notice how President Obama’s carefully worded statement says ‘income taxes’ and not just ‘taxes’: “Under this law, more than 98 percent of Americans and 97 percent of small businesses will not see their income taxes go up.”

I see what he’s doing there.

Now, to be clear, the taxes are not rising as much as they would have if no deal had been reached, so at least the deal accomplished something. But from an average-American standpoint, it’s hard to look at what Obama and the Democrats are saying and not shake your head. Obama has been preaching for what seems like an eternity that he would not raise taxes on the middle class, but that’s exactly what just happened.

It’s just so damn frustrating to take these people in Washington seriously. You now have a fiscal cliff deal that adds $330 billion to the deficit, raises taxes on almost 80% of American families, and they want us to think this is the best they can do?

UPDATE:

You know how people have been freaking out about how bad it would be if the sequestration occurred, cutting an outrageous $110 billion from spending that would largely affect military funding? This fiscal cliff deal results in a “fiscal constriction” of $115 billion. That means $115 billion dollars – more than the sequestration cuts were supposed to be – will be taken out of the economy and shipped straight to Washington. Yes, that Washington that funds robo-squirrels and studies the effects of cocaine on Japanese quail.

I didn't want that money in my check Friday anyway, its not really my fair share, Obama will put it to better use

Taxation without representation sound familiar to anyone?

Steve with this group you can cancel that .

Pelosi says upcoming fiscal deals should include greater tax increase

Read more: http://www.foxnews.com/politics/201...z2HEzjRzJk

Posted By holly on 06 Jan 2013 05:13 PM
Steve with this group you can cancel that .

Yeah, I know.... I typically stay out of this kind of stuff 'cause it just aggravates me to no end, but sometimes my fingers just won't f'ing listen...

Wait is it not that 47% that voted for boomer that don't pay taxes .So that means only 53 % got tax increases .

I remember when Bush was pushing for big tax breaks on the rich, and everyone here seemed to think it was a great idea. Now you complain because they haven't raised the taxes enough on the rich?

That I will say you are wrong on that assumption there .It is the free loaders and the dipocraps that keep saying that .The only ones I remember for more taxes are our dems on here .

It's not the tax rates on the rich that make a big difference. It's the fact that the Democrats tried to sell a bill of goods that were false. The claims that increased taxes on the wealthy would alleviate some of the tax burdens on the middle class was an outright lie from the beginning. And just as I pointed out all along, the only thing Obama and the Dem's wanted was a method to increase benefits to the lower classes, at the expense of the middle and upper income levels. When we take into account the increased cost of Obama care ( roughly $68.00 per month to the average worker), along with the changes in estate and inheritance taxes and the increased tax rate for everyone who pays on an income above the poverty level; it's obvious that the American taxpayer was once again screwed for the benefit of the welfare class. Maybe I missed something, but I didn't notice anyone here complaining that the rich didn't have their taxes raised enough, it was actually that the middle class also are now faced with higher taxes (just as I've said all along would be the result).

Ohhhh... The poor liberals... In the words of the infamous Gomer Pyle... "Surprise surprise surprise!!!"  ROFLMAO!!!

http://www.washingtontimes.com/news...increases/

Has anyone done any research on a flat tax rate?

oh come on now.... making sense is against the rules....

We did a little project when I was in high school to balance the budget during the Reagan years. Back the an eleven percent tax on individuals and a corporate tax rate of 13 percent would have had the national debt and the country operating in the black in 2 years. But wait that would have put too many of the aholes in DC out of a job.

The man is a complete liar. Taxes won't go up for the middle class my foot...

Holly-
I must certainly am NOT wrong. Some of the more senior members will remember the conversation- Bush was reducing taxes for the rich business owners, which was supposed to stimulate the economy. I postulated that it wouldn't... and it didn't. More business than ever headed overseas. Big surprise.
And, Duck, speaking of people with the last name Bush, perhaps you'll recall this statement:
"Read my lips... NO NEW TAXES".
Now that right there is a liar.

U.S. Tax Bonanza May Be Tapped Out

http://finance.yahoo.com/news/u-tax...00446.html