So how’s that $1,635 per household tax increase treating you guys?
But in fact, it was Mr. Obama who enacted the “holiday,” and, to be clear, the tax cut that he pushed throughout the campaign — remember? 98 percent of Americans will get a cut under his plan? — was really the extension of the Bush tax suts. Thus, it was Mr. Obama who raised taxes on millions of Americans, not Mr. Bush.
How many Americans? The nonpartisan Tax Policy Center in Washington put the total at 77.1 percent of all wage earners. In fact, “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,” according to a Bloomberg News article. Hilariously, the tax burden will rise more for someone making $30,000 a year (1.7 percent) than it does for someone earning $500,000 annually (1.3 percent).
A whole new wave of Obama supporters still don’t even know: They’ll get their first 2013 paychecks on the 15th of the month. So when you’re shooting the breeze in the lunchroom with your grumbling co-workers on the 16th, just ask them, “Who’d you vote for in November?” When they say Mr. Obama, just tell them: “Well, you got what you voted for. You did know he was going to raise taxes, right?”
The looks on their faces will be priceless.
Amazingly enough, this epiphany has yet to sink in with most Americans. 15 January is your moment of zen… and it would be glorious, if it didn’t have some extremely damaging real-world applications for those on fixed incomes, single incomes, or those on a pension. Finding $100+ a month in this economic environment where pennies are already pinched and food prices, gas prices, energy prices, state gasoline taxes, and the cost of living continues to tick north?
Troubling times, folks.
…but I’m sure the solution for it will be more government.
