Did You Know...

   

Reminder: Most Americans' taxes are still going up

Share
By Doug Powers  •  January 2, 2013 11:08 AM

**Written by Doug Powers

While President Obama is taking credit for saving the middle class from tax increases, what isn’t being trumpeted across the land is that the Biden/McConnell deal did not include an extension of the payroll tax cut. This means that this year over three-quarters of earners will be paying — you guessed it — higher taxes:

The budget deal passed by the U.S. Senate today would raise taxes on 77.1 percent of U.S. households, mostly because of the expiration of a payroll tax cut, according to preliminary estimates from the nonpartisan Tax Policy Center in Washington.

More than 80 percent of households with incomes between $50,000 and $200,000 would pay higher taxes. Among the households facing higher taxes, the average increase would be $1,635, the policy center said. A 2 percent payroll tax cut, enacted during the economic slowdown, is being allowed to expire as of yesterday.

And let’s not forget to add the new Obamacare taxes to the mix — the same ones that even Democrats who voted for the law have admitted will be job killers. There will be no unaffected taxpayers.

Meanwhile, there seems to be some Republican in-fighting on Capitol Hill. Let’s cut away for a live feed of the action in the cloakroom:

**Written by Doug Powers

Twitter @ThePowersThatBe

blog comments powered by Disqus

To your health! De Blasio cracks down on sodium, but public urination not a big deal anymore (Open thread)

May 29, 2016 09:23 AM by Doug Powers

deblasio

Whiz kid

Does the AP style book say ‘lying’ is spelled ‘misstated key facts’ when the story is about Hillary?

May 27, 2016 03:19 PM by Doug Powers

hillary

Misstating reality

Harry Reid given the retirement salute he so richly deserves, courtesy of Sen. Tom Cotton

May 26, 2016 08:40 PM by Doug Powers

wrestling

Slammed

Hillary hopes State Dept. changes procedures so future secretaries can’t hide secret servers & mass delete emails

May 25, 2016 09:36 PM by Doug Powers

hillaryshrug

Because they care

What a pal! Clinton crony Terry McAuliffe attracts FBI’s attention so Hillary doesn’t feel unfairly singled out

May 25, 2016 07:29 AM by Doug Powers

hillarymcauliffe

Cronies under investigation together stay together


Categories: Bill Clinton, Campaign finance, Corruption, Democrats, Hillary Clinton, 2016 Campaign

Follow me on Twitter Follow me on Facebook