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Obama's new tax plan

Posted: Wed Jan 02, 2013 9:04 am
by Red
Will be ripping millions of Americans off, including seniors. No outrage there. Irony?

Re: Obama's new tax plan

Posted: Wed Jan 02, 2013 10:03 am
by Vilepagan
Irony? What do you find ironic about it?

Re: Obama's new tax plan

Posted: Wed Jan 02, 2013 10:10 am
by Troglodyte
Despite deal, taxes to rise for most Americans
Published OC Register: Jan. 2, 2013 3:10 AM ET
By STEPHEN OHLEMACHER, Associated Press
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WASHINGTON (AP) — While the tax package that Congress passed New Year's Day will protect 99 percent of Americans from an income tax increase, most of them will still end up paying more federal taxes in 2013.

That's because the legislation did nothing to prevent a temporary reduction in the Social Security payroll tax from expiring. In 2012, that 2-percentage-point cut in the payroll tax was worth about $1,000 to a worker making $50,000 a year.

The Tax Policy Center, a nonpartisan Washington research group, estimates that 77 percent of American households will face higher federal taxes in 2013 under the agreement negotiated between President Barack Obama and Senate Republicans. High-income families will feel the biggest tax increases, but many middle- and low-income families will pay higher taxes too.

Re: Obama's new tax plan

Posted: Wed Jan 02, 2013 10:24 am
by Wabash
Red wrote:Will be ripping millions of Americans off, including seniors. No outrage there. Irony?
Time to pay the check for all the profligate spending when conservatives were in charge.