Another Obama Lie … Workers making $30,000 will take a Bigger Hit on their Pay than those Earning $500,000 under New Obama Fiscal Cliff Deal
RETURN OF THE
LION LYING KING … If his lips are moving, you can bank on the fact that he is lying. Barack Obama lies again to the American people about “paying their fair share”.
Remember when President Barack Obama said repeatedly in his “class warfare” talking points that every American must pay their fair share? Then he stated that the new fiscal cliff deal was a win for the middle class and a tax on those evil, greedy rich. Au contraire mon frere, as reported at the Daily Mail, under Obama’s new fiscal cliff plan workers making less than $30,000 a year will take a bigger hit than those making $500,000 a year. For those who were once again duped by Obama, this means that the middle class will be hit harder to their income proportionately than those earning between $200,000 and $500,000.
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.
Just curious, where is the MSM informing the middle class of this Obama lie? This is what happens why you reelect an already known “misrepresenter” to a second term when a president is accountable to no one.