Barack Obama sticks it to poor people.

Under the new fiscal cliff plan workers making less than $30,000 a year will take a bigger hit than those making $500,000 a year.
The Daily Mail reported:

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.

‘The economy needs a stimulus, but under the agreement, taxes will go up in 2013 relative to 2012 – not only on high-income households, as widely discussed, but also on every working man and woman in the country, via the end of the payroll tax cut,’ said William G. Gale, co-director of the Tax Policy Center.

‘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 cuts hit lower in the income distribution and hence were more likely to be spent,’ he added.

Hat Tip Gini

 

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  1. Just wait until the Obama voters get their paychecks and see that the Messiah told an untruth! That is the few Obama voters who ever were employed.

  2. Obama was responsible for the temporary payroll tax cut, in the first place. You really need to get beyond your Obama Derangement Syndrome.

  3. Welcome to the Democratic Party banquet, the most expensive free lunch in history…

  4. Demoncraps cut that 2% because they knew it would contribute to more SS shortfalls. They’ll spin it (and their lapdog media will help) to avoid any needed changes to SS and Medicare.

  5. it was not only obama. the republican party is also responsible! they did not have to vote for the damn bill in the first place. they stabbed Americans in the back; again!

  6. It doesn’t matter what letter they put after their name, R or D.
    America isn’t run by Americans any longer.
    Traitors All.

  7. Obunghole has the “reverse Midas Touch”. Everything he touches turns to feces.

  8. Obama did exactly what he said he would NOT do. He actually scared us into not voting for Romney. How? By telling us all these terrible thing that Romney planned, come this year, with our taxes. Then once elected did the exact thing he SWORE he would not do. And it was not only Obama. The republican party is also responsible. They did not have to vote for the bill. We are being lead by nothing but greedy, lying bastards. They are making it real hard to stay PROUD Americans. If they would stop robbing us, I would be looking for a new country to call home. We are not a Democracy. How many of you want this? Hate admitting to being one of the stupid ones who wanted him President!!!! I think next year all us poor people and our poor children should be present. So that when they pass these funked up bills to make us poorer, they can do it while looking at our children and us adults who who have to work 60 hrs a week just to afford to feed our kids off the dollar menu at McDonalds (because healthy groceries are too expensive) and to pay our small homes and trailer rent. Look in the eyes of the people they are starving and hurting not to pay to get us out of debt, but to pay all these corrupt politicians their obscene salaries and pay for all their wars that are not to benefit the people, but again the powerful peoples pockets. Sick to my stomach. When you live in a free Democratic nation I don’t think you should feel hopeless, helpless, and abused. I bet Hell is full of politician.

  9. This is just the FICA tax being brought back to where it should be and which never should have been reduced in the first place.

  10. Saw that one coming the minute they wanted to raise taxes on the rich without spending cuts. There’s never enough rich to soak and the burden always falls back on the middle class. Anyone with half a brain should know this. But most have the memories of a goldfish.

  11. Obama was responsible for the temporary payroll tax cut, in the first place.

    Well then, he’s certainly responsible for what happens by it now reverting back upward to its previous level from that cut, isn’t he?

  12. Payroll tax is the one tax that needed to go up since it is explicitly for SS. When they retire, people can feel good about getting “their” money back.

  13. http://newsboypost.blogspot.com/

    Now that’s motivation to work harder and pay more!

  14. Duh, super duh! Socialism is all about destroying the middle class. Facts speak for themselves – Obama just continues to lie and lie, while he accomplishes the goals to further the U.S. into communism. Communism never works for the people; it is all about certain nutjobs’ desire for power and money – the rest get to live in a hell on earth.

  15. Somehow those clever little prog bloggers manage to blame Bush or the Republicans for all the evils on the earth.

  16. Well then, he’s certainly responsible for what happens by it now reverting back upward to its previous level from that cut, isn’t he?

    Only to those who enjoy pretzels in their logic.

    I have never met Napoleon
    But I plan to find the time



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