As I picked up my check last Friday, I did a double-take. My weekly take-home pay was sixteen dollars less than the week before. Our accountant had sent us a warning e-mail earlier in the day, the only “surprise”, really, was the amount Obama took from me.
I guess I should have checked out bloomberg.com, 5 days ago:
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.
The heaviest new burdens in 2013, compared with 2012, would fall on top earners, who would face higher rates on income, capital gains, dividends and estates. The top 1 percent of taxpayers, or those with incomes over $506,210, would pay an average of $73,633 more in taxes.
Much of that burden is concentrated at the very top of the income scale.
The top 0.1 percent of taxpayers, those with incomes over about $2.7 million, would pay an average of $443,910 more, reducing their after-tax incomes by 8.4 percent. They would pay 26 percent of the additional taxes imposed by the legislation.
Among households with incomes between $500,000 and $1 million, taxes would go up by an average of $14,812.Top Tax Rate
The bill, being discussed by House members today, would raise the top tax rate to 39.6 percent from 35 percent last year, starting with income over $400,000 for individuals and $450,000 for married couples.
The top tax rates on capital gains and dividends would go up to 23.8 percent, from 15 percent last year. The new rate includes a 3.8 percent tax from the 2010 health-care law that took effect today.
The Tax Policy Center’s definition of income is a gross measure that includes items such as the employer’s share of payroll taxes, making it larger for many households than the adjusted gross income shown on tax returns.
Joseph Curl, writing for The Washington Times, chronicles the Shock and Awww….!@#t, experienced by Obama voters, who thought that their “dawg” wouldn’t raise their taxes…or sumpin’…
Sometimes, watching a Democrat learn something is wonderful, like seeing the family dog finally sit and stay at your command.
With President Obama back in office and his life-saving “fiscal cliff” bill jammed through Congress, the new year has brought a surprising turn of events for his sycophantic supporters.
“What happened that my Social Security withholding’s in my paycheck just went up?” a poster wrote on the liberal site DemocraticUnderground.com. “My paycheck just went down by an amount that I don’t feel comfortable with. I guarantee this decrease is gonna’ hurt me more than the increase in income taxes will hurt those making over 400 grand. What happened?”
Shocker. Democrats who supported the president’s re-election just had NO idea that his steadfast pledge to raise taxes meant that he was really going to raise taxes. They thought he planned to just hit those filthy “1 percenters,” you know, the ones who earned fortunes through their inventiveness and hard work. They thought the free ride would continue forever.
So this week, as taxes went up for millions of Americans — which Republicans predicted throughout the campaign would happen — it was fun to watch the agoggery of the left.
“I know to expect between $93 and $94 less in my paycheck on the 15th,” wrote the ironically named “RomneyLies.”
“My boyfriend has had a lot of expenses and is feeling squeezed right now, and having his paycheck shrink really didn’t help,” wrote “DemocratToTheEnd.”
…“_Alex™” sounded bummed. “Obama I did not vote for you so you can take away alot of money from my checks.” Christian Dixon seemed crestfallen. “I’m starting to regret voting for Obama.” But “Dave” got his dander up over the tax hike: “Obama is the biggest f***ing liar in the world. Why the f*** did I vote for him”?
Of course, dozens of posters on DemocraticUnderground sought to blame it all (as usual) on President George W. Bush. “Your taxes went up because the leaders need to dig us out of this criminal deficit hole we are in which has been caused because taxes were too low during the Bush years. Everyone has to help by spreading the wealth around a little. Power to the correct people!” posted “Orinoco.”
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.
…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.
The greatest President in my lifetime put it very succintly:
The problem is not that people are taxed too little, the problem is that government spends too much.
Why is it Liberals always have to learn things the hard way, at the expense of all of us?
Until He comes,