Hey America, how’s that hopey-changey Obama payroll tax increase treating ya?
America, so you thought that Barack Obama and Democrats were just looking to raise taxes on the rich, eh? This past Friday when you received your pay check you realized otherwise. So many jealous and envious people were so caught up in Obama’s class warfare in taxing and punishing the so-called rich with a tax increase that they did not even consider that Obama was going to raise taxes on them too. Don’t say you were not warned.
Obama is laughing at the fact he was able to divert the attention of Americans away from the Obama payroll tax increase
As reported at Yahoo.com, say hello to the Obama payroll tax hike and goodbye to your hard earned money to the government. According to the Tax Policy Center, about 160 million workers pay this expired payroll tax that President Barack Obama cared little to extend during a terrible economic down turn. The increase will cost the average worker about $700 a year. The joke of a fiscal cliff bill contained no provisions to help the middle class avoid this 2% tax increase.
Americans are beginning to feel the pinch from Washington’s decision to embrace austerity measures aimed at bringing down the nation’s budget deficit.
Paychecks across the country have shrunk over the last week due to higher federal tax rates, and workers are already cutting back on spending, which will drag on the economy this year.
In Warren, Rhode Island, Ben DeCastro got his first paycheck on Friday in which taxes on his wages rose by 2 percentage points. That works out to about $30 a week.
“You sit back and do the calculation, and that’s $30 I’m not going to spend at a restaurant,” said DeCastro.
He said he worries that people hit by higher taxes will spend less at the chain of furniture stores where he works as a marketing manager.
Economists estimate the payroll tax hike will reduce household incomes by a collective $125 billion this year. Some households could reduce contributions to retirement accounts or other savings, but most are also expected to cut back on spending.
That alone could reduce economic growth this year by about 0.6 percentage point, said Michael Feroli, an economist at JPMorgan in New York City.
“The headwind to growth should be noticeable,” he said.
House Democrat Minority Leader Pelosi Says Tax Hikes Must Be Part of Next Deficit Deal … Dems Look for Additional $1 Trillion in new Taxes in 2013
And you bought the notion that Democrats just wanted to tax the rich … Obama, Pelosi, Reid and the Democrats have not even yet started to tax “We the People”.
House Minority leader Nancy Pelosi says that tax hikes must be a part of the next fiscal deal. Hmm, they have already taxed the rich and now they are coming after the rest. Never forget that Democrats want to tax your dreams as well. Elections have consequences and sadly too many suckers bought Obama’s class warfare rhetoric and now ALL Americans will face tax increases.
From The Hill, Democrats want nothing to do with cutting back their wasteful and over the top spending, they just want to continually tax We the People . At some point the American people need to take the credit card away from these children.
Democrats say they want to raise as much as $1 trillion in new revenues through tax reform later this year to balance Republican demands to slash mandatory spending.
Democratic leaders have had little time to craft a new position for their party since passing a tax deal Tuesday that will raise $620 billion in revenue over the next ten years.
The emerging consensus, however, is that the next installment of deficit reduction should reach $2 trillion and about half of it should come from higher taxes.
This sets up tax reform as one of the biggest fights of the 113th Congress, which began on Thursday.
Republicans say tax reform should be revenue neutral. Additional revenues collected by eliminating or curbing tax breaks and deductions should be used to lower rates.
Senate Republican Leader Mitch McConnell (R-Ky.) has dismissed the possibility of negotiating additional tax increases.
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.
Didn’t Barack Obama Promise that Obamacare would Lower Costs … Health Insurers Raise Some Rates by Double Digits
LION LYING KING: Remember when President Barack Obama said that Obamacare would lower costs for insureds, REALLY? It’s just yet another Obama lie to “We the People”.
For those of us who hold President Obama to his word, unlike the liberal MSM, you will remember in the second debate with John McCain in 2008, Obama promised, “We’re going to work with your employer to lower the cost of your premiums by up to $2,500 a year.” Obama would then go on the stump and continually make the promise that Obamacare, the socialized government take over of healthcare, would lower premium costs. Just curious America, did Obama work with your employer to lower your health care premiums this year by $2500? Heck, mine went up by about 25%. Investors Business Daily has previously provided the data that shows Obama’s math problems when it comes to premiums.
But like everything else when it comes to this president, no one wants to hold him accountable. Maybe when millions of insureds realize they were duped, maybe, just maybe ”We the People” will finally do the responsible thing and punish Obama, Democrats and the MSM for their lies.
As reported in the NY Times, Health insurance companies across the country are seeking and winning double-digit increases in premiums.
Health insurance companies across the country are seeking and winning double-digit increases in premiums for some customers, even though one of the biggest objectives of the Obama administration’s health care law was to stem the rapid rise in insurance costs for consumers.
Particularly vulnerable to the high rates are small businesses and people who do not have employer-provided insurance and must buy it on their own.
In California, Aetna is proposing rate increases of as much as 22 percent, Anthem Blue Cross 26 percent and Blue Shield of California 20 percent for some of those policy holders, according to the insurers’ filings with the state for 2013. These rate requests are all the more striking after a 39 percent rise sought by Anthem Blue Cross in 2010 helped give impetus to the law, known as the Affordable Care Act, which was passed the same year and will not be fully in effect until 2014.
In other states, like Florida and Ohio, insurers have been able to raise rates by at least 20 percent for some policy holders. The rate increases can amount to several hundred dollars a month.
How are those Obama lies working out for you America?
An Obama Happy New Year … Fiscal Cliff or Not Americans Face $1 Trillion Obamacare Tax Hike Hitting on January 1, 2013
Taxation without any responsible representation … The Obama taxes!!!
America, get ready for the tax hikes on everyone that you voted in when Barack Obama won reelection. Thanks to that misguided and uninformed election Americans now face a $1 trillion Obamacare tax hike beginning January 1, 2013 … Happy New Year. So you thought that by participating in Obama’s class warfare against the so called rich would not effect you, eh? Think again … it all trickles down. All these Obamacare taxes and Obamacare still does nothing what it originally claimed to do.
$ 1 Trillion !!!
On January 1, regardless of the outcome of fiscal cliff negotiations, Americans will be hit with a $1 trillion Obamacare tax hike.
Obamacare contains twenty new or higher taxes. Five of the taxes hit for the first time on January 1. In total, Americans face a net $1 trillion tax hike for the years 2013-2022, according to the Congressional Budget Office.
The five major Obamacare taxes taking effect on January 1 are as follows: (full pdf doc can be read HERE)
- The Obamacare Medical Device Tax - Medical device manufacturers employ 409,000 people in 12,000 plants across the country. Obamacare imposes a new 2.3 percent excise tax on gross sales – even if the company does not earn a profit in a given year. In addition to killing small business jobs and impacting research and development budgets, this will increase the cost of your health care – making everything from pacemakers to artificial hips more expensive. The Patriot Perspective discusses exactly what this means. It is insane to make any industry pay a tax on their gross sales, versus net.
- The Obamacare Flex Account Tax
- The Obamacare Surtax on Investment Income
- The Obamacare “Haircut” for Medical Itemized Deductions
- The Obamacare Medicare Payroll Tax Hike
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.
Obama and Taxes … Why should we trust The Lying King?
Blogger Adam Sharp speaks for many Americans when he responded to Barack Obama’s #My2K call. Sharp’s response in his video below, “Riddle Me this Barry, Why should we trust you. The lie was that Obama promised that he would not raise taxes on people making over $250,000 a year. As we learned this past year when the US Supreme Court and Chief Justice
Benedict Arnold John Roberts ruled that Obamacare was a tax. So why should we trust the Lying King Obama when he told Americans that Obamacare was not a tax, yet allowed his attorney to argue that it was?
Hat Tip: The Gateway Pundit
Of the twenty new or higher taxes in Obamacare, below are the five worst Obamacare taxes that will be foisted upon Americans for the first time on January 1, 2013.
Full pdf format HERE.
1. The Obamacare Medical Device Tax – a $20 billion tax increase: This 2.3 percent tax on medical device makers will raise the price of (for example) every pacemaker, prosthetic limb, stent, and operating table. Can you remind us, Mr. President, how taxing medical devices will reduce the cost of health care?
2. The Obamacare “Special Needs Kids Tax” – a $13 billion tax increase: The 30-35 million Americans who use a Flexible Spending Account (FSA) at work to pay for their family’s basic medical needs will face a new government cap of $2,500 (currently the accounts are unlimited under federal law, though employers are allowed to set a cap).
3. The Obamacare Surtax on Investment Income – a $123 billion tax increase: This is a new, 3.8 percentage point surtax on investment income earned in households making at least $250,000 ($200,000 single).
4. The Obamacare “Haircut” for Medical Itemized Deductions – a $15.2 billion tax increase: Currently, those Americans facing high medical expenses are allowed a deduction to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). This tax increase imposes a threshold of 10 percent of AGI. By limiting this deduction, Obamacare widens the net of taxable income for the sickest Americans.
5. The Obamacare Medicare Payroll Tax Hike — an $86.8 billion tax increase: The Medicare payroll tax is currently 2.9 percent on all wages and self-employment profits. Under this tax hike, wages and profits exceeding $200,000 ($250,000 in the case of married couples) will face a 3.8 percent rate instead.
MEDIA BIAS: Chris Matthews Says Unemployment Was Well Past 10% When Obama Took Office, Um Sorry Tingles, It Was Only 7.8%
More MSM Bias and lies …
Chris “Tingle Up My Leg” Matthews continues the MSM propaganda for Barack Obama and continues to spew a false narrative of actual facts that existed prior to Obama coming into office. Matthews stated that the unemployment rate was over 10% and skyrocketing. Really, over 10%? Interestingly enough the facts show that the unemployment rate was 7.8% when he took office. Actually, this was the lowest that the unemployment rate has been during the Obama Presidency as we have had 43+ months at +8%, event though Obama and his minions promised it would go below 8% after passing his trillion dollar, not shovel ready stimulus.
“When your guy left town, Dubya – who nobody asked him to come back by the way at the Republican convention – unemployment was well past ten percent and skyrocketing.”
Matthews stated that the unemployment rate was over 10% and skyrocketing when his Obamamessiah took office. That is just a false statement and intended lie to put forth to the American people to deceive them. According to the US Labor Department the unemployment rate was 7.8%. So why would Tingles feel the need to lie? Obviously, the MSM has to aid Obama to get reelected despite Obama’s terrible economic record and failed policies to help create job growth in America.
Question, how does NBC allow such a statement by Matthews to be put forth and not responded to as false? Of course this is coming from a news network that allowed the doctored and edited tape to be put forth of the George Zimmerman 911 call. But when the skewing of the news and out right lies benefit Obama, mums the word. The Lonely Conservative has more from
MSNBC MSU news.
UPDATE I: However, as reported at ZeroHedge.com the real Unemployment Rate hits 11.7% as spread between the reported and propaganda data hits record.
Today’s reported unemployment rate: 8.1%. The reason: the labor “participation” dropped to a 31 year low 63.5% as reported earlier. Of course, this number is pure propaganda, and makes no sense for one simple reason: despite the economic collapse started in December 2007, the US civilian non-institutional population since then has grown by 186,000 people every month on average hitting an all time high of 243,566,000 in August. These people need a job, and the traditional shorthand is that at least 100,000 jobs have the be generated every month for the unemployment rate to merely stay flat, let along improve. So what does one get when one uses the long-term average of the past 30 or so years which happens to be 65.8%? One gets an unemployment number that is 45% higher than the reported 8.1%, or 11.7%.