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.
Who is to blame for this America, Republican politicians, Democrats, Independents? No … you are America, you were foolish enough to reelect Obama and create a czar.
The fiscal cliff bill was supposed to save the middle class from tax hikes and was supposed to only punish the so-called rich. At least that is what was said by Obama and Democrats. Since when has Obama ever told America the truth? As reported at Bloomberg, the bill that passed the US Senate today will increase taxes on 77.1% of American households.
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.
Another Obamaination … Wasn’t the point of passing a bill to save us from the fiscal cliff supposed to lower federal deficits and the national debt?
As reported at The Hill, the US Senate deal to avoid the “fiscal cliff” will add roughly $4 trillion to the deficit when compared to current law, according to new numbers from the Congressional Budget Office (CBO). What a complete an utter joke. The CBO says the Senate budget agreement will lead to an overall increase in spending of about $330 billion over 10 years. How does this save us from the fiscal cliff? This is what happens when you add a tax on the so-called rich as some means of fixing the problem, when it was nothing more than a lie from Obama and Democrats. Spending cuts need to be made and changes in SS, Medicare/Medicaid and other entitlement programs..
The CBO determined Tuesday that the package, hammered out late Monday evening by Vice President Biden and Senate Minority Leader Mitch McConnell (R-Ky.) would — over the next decade — come with a $3.9 trillion price tag.
The agreement, which is pending before the House after passing in a 89-8 Senate vote early Tuesday, would extend lower tax rates on annual household income under $450,000 and postpone automatic spending cuts for two months.
The extension of lower tax rates for a bulk of the nation’s taxpayers and the addition of a permanent patch to the alternative minimum tax would add roughly $3.6 trillion to the deficit over the next decade, the CBO said. Other individual, business, and energy tax extenders would add another $76 billion.
Any Republican who votes for this needs to be primary challenged in 2014. This is all just a bad joke and you made it happen America last November by reelection Barack Obama. I hope you are proud of yourselves.
Early this morning the US Senate passed a “fiscal cliff” plan that was all tax kikes and no spending cuts by a vote of 89-8. The only nay votes were Bennet (D-CO), Carper (D-DE), Grassley (R-IA), Harkin (D-IA), Lee (R-UT), Paul (R-KY), Rubio (R-FL), Shelby (R-AL). The following did not vote, DeMint (R-SC), Kirk (R-IL), Lautenberg (D-NJ). This bill was all taxes and no spending cuts. Hardly a balanced approach that was claimed by Obama. As reported at Breitbart, FISCAL CLIFF DEAL: $1 IN SPENDING CUTS FOR EVERY $41 IN TAX INCREASES!!!
According to the Congressional Budget Office, the last-minute fiscal cliff deal reached by congressional leaders and President Barack Obama cuts only $15 billion in spending while increasing tax revenues by $620 billion—a 41:1 ratio of tax increases to spending cuts.
The grossly imperfect bill was supposed to prevent the US from going over the so-called fiscal cliff; however, it does not grow the economy, lower the debt or prevent taxes on the middle class. Get ready middle class for an increase in taxes as the final deal did not include an extension of the payroll tax holiday.
Under the compromise arrangement, taxes would rise on income above $400,000 for individuals and $450,000 for households, while exemptions and deductions the wealthiest Americans use to reduce their tax bill would face new limits. The accord would also raise the taxes paid on large inheritances from 35% to 40% for estates over $5 million. And it would extend by one year unemployment benefits for some two million Americans. It would also prevent cuts in payments to doctors who treat Medicare patients and spare tens of millions of Americans who otherwise would have been hit with the Alternative Minimum Tax.
The middle class will still see its taxes go up: The final deal did not include an extension of the payroll tax holiday. And the overall package will deepen the deficit by hundreds of billions of dollars by extending the overwhelming majority of the Bush tax cuts. Many Democrats had opposed those measures in 2001 and 2003. Obama agreed to extend them in 2010.
AMERICA, GET READY TO GET TAXED TO DEATH.
Principled Republican Rand Paul (KY-R) on Senate’s Fiscal Cliff Plan with Obama WH: You May Not Get Any More Revenue But You Can Say “I Stuck It to the Rich People”
Believe it or not there are still some principled Republicans left in the GOP.
Last night after the US Senate and Republicans “stuck it to the rich people” last night, Senator Rand Paul (KY-R) delivered the speech below in the following video on the floor of the US Senate. Rand Paul, the conscience of the GOP stated the obvious what sadly Barack Obama and Democrats campaigned on and even more sadly an envious, jealous and misguided America bought into. Obama campaigned on class warfare as for the reason for America’s economic ills and “and you got enough envy whipped up in the country”. Now you have gotten your chance to stick it to the rich. I will say this America, don’t ask for things it just might come true.
“Mark my word, you’ll raise tax rates and you feel good because you went out there and you got those rich people. You said you were. You campaigned against rich people. And you got enough envy whipped up in the country. And you’re going to stick it to those rich people. But guess what? You may not get any more revenue. You may not get anymore economic growth. But you can say, “I stuck it to the rich people.””
Campaigner/Agitator in Chief Obama Gloats and Attacks During FISCAL Cliff Presser … Leaves GOP Peeved, “does POTUS want a deal or not?”
The Agitator in Chief … There is just no doubt about it, President Obama is a miserable excuse for a president and his sole purpose is to agitate and divide the country.
Barack Obama just cannot stop campaigning and cannot stop his divisive nature as he agitated the GOP today in the midst of Republicans and Democrats negotiating a fiscal cliff compromise. During his campaign stump-style speech he ripped Republicans for their anti-tax raising approach and praised himself for his ability to get them to raise taxes on the so-called rich. And you thought Obama was cocky before the election.
Obama certainly managed to piss off the Republicans. One has to wonder what this guys issues really are. Will Obama ever how leadership and actually act in a manner that is more than the boorish, poor winner? Sorry, but this guy has serious issues.
But his midday press conference, with a group of middle-class Americans looking on, was not without a bit of bravado as well. Obama took multiple shots at Congress for its clumsiness in negotiations and insisted that he’d demand more tax hikes if the legislative body used the impending debt ceiling standoff to demand spending cuts.
In the process, the president irked several Republican aides, who suggested that the entire fiscal cliff deal had been complicated because of his tone and criticism.
“Potus just moved the goalpost again. Significantly. This is new,” tweeted a top aide to McConnell.
Doug Heye, a spokesman for House Majority Whip Eric Cantor (R-Va.), tweeted, “If Obama’s goal was to harm the process and make going over the cliff more likely, he’s succeeding.” Another Cantor spokesperson said, “So….I’m confused….does POTUS want a deal or not? Because all those jabs at Congress certainly sounded like a smack in the face to me.”
Sen. John McCain (R-Ariz.) said the president “sent a message of confrontation” to Republicans, who could be voting on a deal in the next 24 hours. “I’m not sure … whether to be angry or to be saddened,” he added.
Sen. Joe Lieberman (I-CT) Says No Fiscal Cliff Deal Tonight … “I think the parties are much farther apart than I hoped they’d be by now”
Deal or no deal … it would appear that there is no deal.
As reported at the Washington Post, according to Sen. Joe Lieberman (I-CT) there is no deal as of yet and he would be shocked if there would be tonight as the two sides are further apart than he had hoped. They truly plan on taking this down to the last second. Of course one has to wonder how Congress can be having a fiscal cliff negotiation when none of what they are discussing reduces the US debt. It’s all just about tax increases and punishing the so-called rich.
Asked as he left a meeting of the Senate Democratic caucus whether a deal would be struck today, Sen. Joseph I. Lieberman (I-Conn.) replied: “No, I’d be shocked. I think the parties are much farther apart than I hoped they’d be by now, and that the country thought they’d be when negotiations started on Friday.”
Democrat Majority Leader Harry Reid Says … House ‘Being Operated With A Dictatorship Of The Speaker’
Talk about the pot calling the kettle black … What ever happened to the “civility” that Obama had called for? Where is his leadership to tell those in his in party to shut their mouths, as they are helping nothing.
It would appear that Sen. Reid (D-NV) could care less about civility and trying to offer an olive branch in order to come to a deal with House Speaker Boehner. Harry Reid stated while speaking on the floor of the US Senate that the House was “being operated with a dictatorship of the speaker.” How juvenile could one be? How could anyone think that such words are helpful an would be considered doing the work of the American people? Just how many bills have the Senate passed to deal with the fiscal cliff?
With a Dec. 31 deadline for an agreement to avert the so-called “fiscal cliff” rapidly approaching, leaders in each party demanded the other side take the initiative. The new flare-up happened despite a round of calls that President Barack Obama made to congressional leaders by phone Wednesday night from Hawaii before he boarded Air Force One to head home from vacation.
The market was glum, with stocks falling for the fourth day in a row amid the stalled negotiations and a report that consumer confidence had plunged to its lowest level since August.
Obama’s plane landed in late morning at a suburban Maryland Air Force base, not long after Majority Leader Harry Reid took to the Senate floor to chastise House Republicans who last week opposed Speaker John Boehner’s efforts to pass a narrowly crafted bill. Boehner’s “Plan B” would have raised tax rates only on the very wealthiest Americans. But the opposition within his own party caucus forced the Ohio Republican to cancel a vote on the bill.
Reid charged Thursday that the House was “being operated with a dictatorship of the speaker.”
In a response to Reid’s childish remarks, Speaker Boehner spokesman Brendan Buck said: “Harry Reid should talk less and legislate more if he wants to avert the fiscal cliff. The House has already passed legislation to do so.”
I really have to question the wisdom of the American voters who reelected the status quo and those in Nevada who reelected Reid in 2010. The leadership in both parties needs to be purged and we need to start from scratch. Of course that should have meant Obama should have been thrown out on his ears as well.
Happy New Year America from Barack Obama … Turbo Tim Geithner Says US will hit $16.4 trillion debt limit? on New Year’s Eve
An early Happy News Year’s greetings from Barack Obama, according to Obama’s Treasury Secretary Turbo Tax Timmy Geithner, the United States will hit $16.4 trillion debt limit? on New Year’s Eve. Sadly, as the crystal ball drops in Time Square, NY ringing in the new year, the debt clock will be ringing in its own welcome to 2013 and $16.4 trillion. As Americans attempt to budget for 2013 and the impending fiscal cliff, Obamacare taxes and payroll taxes, Obama goes another year without a budget and more deficit spending.
The United States will reach its $16.4 trillion borrowing limit on Dec. 31 and undertake “extraordinary measures” to avoid default, the Treasury Department informed congressional leaders in a letter on Wednesday.
The notice about the debt ceiling came packaged with a stark warning from Treasury Secretary Timothy Geithner, who said the policy uncertainty stemming from the “fiscal cliff” makes it impossible for him to say with certainty how much time lawmakers have left to raise the borrowing cap.
“Given the significant uncertainty that now exists with regard to unresolved tax and spending policies for 2013, it is not possible to predict the effective duration of these measures,” Geithner wrote.
Sen. John Barrasso (R-WY), “I Believe the President [Obama] is eager to Go Over the Cliff for Political Purposes”
What, President Barack Obama being all about politics and not what’s good for America, say it isn’t so …
This morning on FOX News Sunday, Senator John Barrasso (R-WY) told Chris Wallace that he believes that President Barack Obama wants to drive off the “fiscal cliff” as Obama believes it is politically advantageous for him. Barrasso stated, “I believe the president is eager to go over the cliff for political purposes” and “He senses a political victory at the bottom of the cliff.” Barrasso also questioned Obama’s lack of leadership in negotiations.
Sen. John Barrasso (R-Wyo.) said Sunday he thinks President Obama wants to dive over the so-called “fiscal cliff.”
“I believe the president is eager to go over the cliff for political purposes,” Barrasso told Chris Wallace on “Fox News Sunday.” “He senses a political victory at the bottom of the cliff.”
The senator also said he believes the nation will go over the cliff, with the deadline just nine days away.
Barrasso said he thinks Obama is eager to blame Republicans if Congress cannot reach a deal by the end of the year. Polls have indicated that Americans would blame Republicans more than Democrats if talks fail.
Barrasso also pointed to a report in the Wall Street Journal late last week that said during negotiations, Obama threatened Speaker John Boehner (R-Ohio) that he would use the presidential bully pulpit to heap blame on the GOP during his “State of the Union” speech next year.
UPDATE I: Senator Barrasso’s sentiment was shared by US Rep. Mick Mulvaney of South Carolina who believes as well that Obama wants to go off the “fiscal cliff”.
“I believed from the very beginning and continue to believe that the president has no interest at all in not going over the cliff,” Mulvaney told CNN chief political correspondent Candy Crowley on “State of the Union.” “He wants to go over the cliff. Everything I’ve looked at and seen out of the White House.”