Senate Bill Will Increase Taxes on 77% of US Households

The bill that passed the US Senate today will increase taxes on 77.1 percent of American households.
The Washington Post reported:

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.

The House is expected to vote on the bill tonight.

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  • Patty

    Americans will never make it. Struggling so much now, this will literally destroy families.

  • Ella

    We ought to create a thriving black market. If you need stuff repaired in your home, offer to pay the contractor under the table. Win win for both parties.

    This is how it works in socialized Western European countries. There is actually some stuff we can learn from them.

    Starve that nasty government beast any way you can.

  • Sasja

    Isn’t this wonderful news? /sarc.

  • Patty

    #2 January 1, 2013 at 7:22 pm
    Ella commented:
    🙂 I like the way YOU think!!

  • ★FALCON★

    And a 2 am vote in an attempt to out-democrat the democrats.

    Boehner / Done.

  • Lemonaidd

    What a steaming pile of horse manure is this ill conceived eleventh hour tax bill. Americans deserve better from these clowns in congress and the bloviator in chief.

  • Patty

    They really are the FILTHY Rich. I wish we could clear them all out of office tomorrow, better yet, tonight. What do they care they go back to their beautiful homes, fancy dinners, chauffeured limousines. FOR CRYING OUT LOUD!!

  • Patty

    ot

    ‘No ma’am’: Letter from U.S. Marine to Dianne Feinstein goes viral

    Senator Dianne Feinstein,

    I will not register my weapons should this bill be passed, as I do not believe it is the government’s right to know what I own. Nor do I think it prudent to tell you what I own so that it may be taken from me by a group of people who enjoy armed protection yet decry me having the same a crime. You ma’am have overstepped a line that is not your domain. I am a Marine Corps Veteran of 8 years, and I will not have some woman who proclaims the evil of an inanimate object, yet carries one, tell me I may not have one.

    I am not your subject. I am the man who keeps you free. I am not your servant. I am the person whom you serve. I am not your peasant. I am the flesh and blood of America.

    I am the man who fought for my country. I am the man who learned. I am an American. You will not tell me that I must register my semi-automatic AR-15 because of the actions of some evil man.

    I will not be disarmed to suit the fear that has been established by the media and your misinformation campaign against the American public.

    We, the people, deserve better than you.

    Respectfully Submitted,
    Joshua Boston
    Cpl, United States Marine Corps
    2004-2012

    http://www.bizpacreview.com/2013/01/01/no-maam-letter-from-u-s-marine-to-dianne-feinstein-goes-viral-12897

  • Patty

    Sorry, just saw the topic. Please forgive my post.

    #8

  • SteveB

    That’s called their “FAIR SHARE”? What would be an unfair share, all of it?

  • ★FALCON★

    I’m all for liberals and communists being taxed at 150 percent. They wanted a huge government let them fund it.

    I use no government services – and I’m not paying more than 15 percent. I won’t claim income and I’ll hide it. I’ll also just give it away on the form of charity.

    That’s that.

  • Ella

    Patty, you know what else happens in socialized Western European countries? They turn each other in. There are all kinds of Whistleblower phone numbers that you can call when you discover your neighbor has somehow managed to buy a new car on his disability benefit.

    Makes for a wonderful society. PUKE.

  • Patty

    Higher Taxes for more spending. It is called a vicious circle. We are paying more taxes for what? THEIR SPENDING. America and Americans are broke, they are bleeding us dry. They are killing off America on purpose. There is no other explanation for this ruthlessness.

  • Patty

    #12 January 1, 2013 at 7:42 pm
    Ella commented:

    I think I call that, COMMUNISM and or OBAMA!

  • shibumi

    Not a problem, because O’s base is unemployed and doesn’t pay taxes. So in their world, it’s all good.

    We however, are screwed completely.

  • The entire senior GOP acts like “made men”. I’d wager that the DNC has dirt on each and every one of them … that’s why they just play at opposition, yet never go for the jugular … they’re all tainted and bitches of the DNC. After all, how do so many of them arrive men and women of modest means, yet after a few years are magically rich. All their stock picks are amazingly successful for one … and I’d bet many have dark dirty little secrets made in the bed that only the DNC knows .. and uses. America is now Chicago.

  • Patty

    #15 January 1, 2013 at 7:49 pm
    shibumi commented:

    My feelings are, if they matter a hill of beans, we were screwed on Jan. 20, 2009.

  • Patty

    #16 January 1, 2013 at 7:50 pm
    Paul commented:
    ~~~~

    America is Chavez country. We are digging a deeper and deeper hole each day.

  • Conservative Ken

    Time to oust Boehner.
    Here is a link to Heritage Action’s scorecard. We need to take a look at the top GOP Representatives and look to replace the crying man.

    http://heritageactionscorecard.com/scorecard/index.html#all

  • Patty

    https://twitter.com/RichardTrumka/status/285901296932884481

    Can’t stand the guy but who is running America.

    Him, Soros or the Bankers.

  • Lightwave

    Any Republicans who vote for this?

    Gone.

  • Conservative Ken

    Rumor is that Boehner has 100 House members who will follow him whatever direction he takes.

  • rmuzingo

    I’m thinking it’s time to have a recall election,on every last Republican.

  • shadow

    They really are the FILTHY Rich. I wish we could clear them all out of office tomorrow, better yet, tonight. What do they care they go back to their beautiful homes, fancy dinners, chauffeured limousines. FOR CRYING OUT LOUD!!

    Damn. Class warfare. From a conservative. Say it ain’t so.

  • Patty
  • Patty

    #24 January 1, 2013 at 8:24 pm
    shadow commented:

    Well, I do know one thing, when I go home I have to budget, watch prices, save where ever possible and I still have my taxes raised and it does hurt. Will it hurt them? No, why because we are paying their salaries along with trying to put food on the table, send our kids to what we would hope the best schools. And their healthcare won’t look a thing like my healthcare.

    You see, Obama has divided this nation into the haves and have nots, on purpose, why because he believes it is his turn to be the master of everything we do, eat, drive, guns, media we watch, and it has all to do with power. He doesn’t have to worry about clothes, the cost, food, prices going up, cars, he has limo, guns, he has security, home, he has the White House.

    Yet, he cares so much for the middle class, I want to barf.

  • gsrider

    Shadow you must he so filthy rich that everything the government has absolutely no effect on you whatsoever and you’re just a-ok with absolutely everything happening around you. Must be nice to have nothing to do but shill for a an oppressive bankrupt government all the live long day. You are so awesome.

  • ukdon

    The Republican Party has finally committed suicide and there is no hope for them anymore. It may take another election cycle or two to convince enough people to move to the Tea Party and by then the country will be a complete mess that will take generations to correct. I am glad I am old. I am very worried for my grandchildren.

  • Highlander

    I’m sorry Jim. I normally support your efforts here, but calling this a tax increase is misleading, and calling S/S withholding a PAYROLL TAX plays right into the hands of the people who would have us forget that it is OUR MONEY. We need to resist their efforts to redefine S/S withholding as a tax if we ever want to see out money again, and we need to be honest in our efforts to fight these criminals. If we don’t stick to the facts and discuss these issues rationally, then we’re no better than they are …

  • shadow

    Yet, he cares so much for the middle class, I want to barf.

    The only reason you had two years of reduced payroll tax is because of Obama. Republicans didn’t want it from the beginning. There was no way they would allow it to be included in the current package.

    Of course to you, and just about everyone else here, it’s all Obama’s fault. That’s what you are here for. It’s the only reason this site exists. OBAMA BAD!

  • shadow

    To #27 gsrider

    The new income tax rates won’t affect me, if that makes you feel any better.

  • Mike

    The senate and congress cannot manage the finances of our government and guess who pays for their mistakes?/ The American people, we cannot afford anymore taxes now, the public is still struggling with this economy as it is. Damn congress and the government, they cannot manage themselves much less the country.

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  • Patty

    Extending the payroll tax would not create jobs, no matter what Obama says. Still, as a matter of responsible governing, it was recommended that Congress and the President extend all current tax policies, including the payroll tax cut, to avoid Taxmageddon. This would give the businesses and families the certainty they need and lawmakers time to work on comprehensive tax reform next year.

    And if anyone believes that Obama is giving the middle class a sweet deal they better think again. OBAMA CARE WILL HIT THEM LIKE NOTHING EVER BEFORE.

  • Patty

    #32 January 1, 2013 at 10:00 pm
    Mike commented:

    no taxation without representation. They certainly DON’T represent me.

  • CT

    Speaker John Boehner’s days as speaker have been a net loss for Republicans.

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  • Blacque Jacques Shellacque

    Speaker John Boehner’s days as speaker have been a net loss for Republicans.

    He’s just one part of a larger overall problem – the upper ranks of the Republican Party.

  • imtorqued

    starve the beast.

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  • shadow

    Extending the payroll tax would not create jobs, no matter what Obama says. Still, as a matter of responsible governing, it was recommended that Congress and the President extend all current tax policies, including the payroll tax cut, to avoid Taxmageddon.

    So Obama was “damned if he does, damned if he doesn’t do.” Thanks for spelling it out. One question, though … why would a 3% cut in the middle class income tax rate be a job creator, but not a 2% cut to the payroll tax rate.

  • Highlander

    “why would a 3% cut in the middle class income tax rate be a job creator, but not a 2% cut to the payroll tax rate?”

    Because shadow, the 2% cut to the “payroll tax” rate is A) 1% less, and B) it only applies to the employee, not the employer. The Employer has to continue to make their contributions at the full rate. A 3% INCOME tax cut would apply to EVERYBODY, employee and employer alike. Many small business owners and sole-proprietors would benefit greatly from such a cut, and would subsequently be in a better position to grow their businesses and HIRE people. Such a cut would infuse far more money into the economy that a withholding cut, and it wouldn’t reduce the revenues that NEED to be going into Social Security to keep it solvent. Cutting the Social Security WITHHOLDING at all was stupid. But that was Obama’s idea, so of course you would love it …

    This is all pointless anyway though, because none of these band-aids is going to solve the basic problem. We spend far more than we take in on all levels, and our manufacturing base is shrinking. Until we resurrect the economic engine that generates the wealth in this country, and quit blowing money we don’t have on feel-good programs and political pandering to lazy, entitlement sucking parasites who vote for the biggest panderers, we’re doomed. You can stick your head in the sand and ignore that, but it will be at your own peril …

  • Highlander

    I thought you were “educated” and had an “IQ” shadow? Everyone has one, but some are bigger than others it seems …

  • Blacque Jacques Shellacque

    Many small business owners and sole-proprietors would benefit greatly from such a cut, and would subsequently be in a better position to grow their businesses and HIRE people. Such a cut would infuse far more money into the economy that a withholding cut, and…

    You gotta keep in mind that liberals never do anything but think in terms of numbers. They think taxes are some kind of zero sum game, and that reducing the tax burden always reduces the amount of tax revenue flowing into the government. It seems to escape them that taxation tends to have a negative effect. They never stop to think that the increased economic activity that would result from lighter taxation results in more prosperity (more people working, hence more income tax collected) and consumption (more sales of goods and services, which are usually taxed as well). They always think that a tax increase of some kind means that the government will always collect more money, never taking into consideration the resulting typical human response to them.

    I thought you were “educated” and had an “IQ” shadow?

    Always remember, claims are just that, claims. And as time goes on (and more of this person’s replies appear), the more those claims are proven wrong.

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  • Jack

    More sensationalistic mongering. This is not a raise in taxes. It’s simply an end to the gift of a temporary decrease in the payroll rate to stimulate the economy. The economy is moving, the gift should end.

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  • Blacque Jacques Shellacque

    The economy is moving, the gift should end.

    Leaving aside the payroll tax issue, the economy is moving insofar as a snail technically also “moves”.

  • Ray

    All I can say is liberals beware, conservatives will eventually run out of money to pay your bills.

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  • Jim

    You poor crying democrats who are now crying because their taxes went up are blaming congress and the republicans. Who do you think Harry Reid is? The fiscal cliff bid was his and he is a democrat!’ If you want to blame anyone for your taxes going up, blame Obama and the democrats, congress signed off on the democrats bill!