Americans Suddenly Noticed They’re Pay Checks are Less Thanks to Obama’s Payroll Tax Hike

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.

Protecting the Middle Class? US Senate Bill Will Increase Taxes on 77% of US Households

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.

What a Joke … Senate Fiscal Cliff Deal Will Add $4 Trillion to National Deficit

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.

US Senate Passes Fiscal Cliff Plan With Tax Hikes and No Cuts in Spending 89-8

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.

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)

1. 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.
2. The Obamacare Flex Account Tax
3. The Obamacare Surtax on Investment Income
4. The Obamacare “Haircut” for Medical Itemized Deductions
5. 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.

As Fiscal Cliff and Tax Increases Nears for ALL Americans, Obama Tells Congress to “Cool Off, Drink some Egg Nog, Sing some Carols” & Eat Christmas Cookies, As Obama Vacations in Hawaii

BARACK OBAMA: LEADING FROM BRHIND … LET THEM EAT CHRISTMAS COOKIES.

The United States and all Americans are on the verge of the fiscal cliff and Obama heads off to vacation in Hawaii as he tells all to let them Eat Christmas Cookies. What leadership from our president. Thanks America, you reelected him. There is a reason why Obama is called the Vacationer in Chief. All Americans are facing a tax increase come January 1, 2013 and Obama goes on vacation instead of hammering out a deal. UNREAL. Just this past week, the thin skinned president got defense about a question regarding mass murder violence during his first term. Obama stated, “I don’t think I’ve been on vacation.” It appears that is exactly just where you have been. How can any president just head off on vacation after literally doing nothing since election day to end the fiscal cliff crisis.

Let them eat Christmas Cookies 

President Barack Obama delivered an unexpected update on the status of negotiations to avert the year-end fiscal cliff, saying he was still optimistic that a “comprehensive” deal could get done before a deadline in 10 days.

“I want next year to be a year of strong economic growth. … Call me a hopeless optimist, but I still think we can get this done,” Obama said.

Obama said he hoped that the coming holiday break would give all parties in the fiscal cliff debate some “perspective,” telling members of Congress to “cool off, drink some egg nog, sing some carols” and eat Christmas cookies. Obama and his family will leave for Hawaii at 7:30 p.m. tonight.

Obviously Barack Obama is not concerned that 100% of Americans, including the middle class, are about to have their taxes increased. Hell, as it is Americans will face tax increases in 2013 thanks to Obamacare.  In 2011 Obama postponed his vacation in Hawaii with his family while the payroll tax vote was in limbo. Are you kidding me? Funny how he could give a $hit now that he has been reelected. The fiscal cliff is a bit bigger than the payroll tax, yet Obama has no issue taking a vacation like the Absentee President he is. My what a difference a year and a reelection makes.

Obama told leaders it would be unacceptable if House Speaker John Boehner (R-Ohio) adjourned for Christmas next week without extending a 2-percentage point reduction of the payroll tax.

A White House official disputed the notion that Obama had altered his vacation plans because of Romney’s criticism.

The official noted that Obama had already threatened to spend Christmas with Republicans in Washington if Congress failed to take action on payroll taxes.

“We’re going to keep pushing Congress to make this happen,” Obama said Friday. “Now is not the time to slam the brakes on the recovery. Right now, it’s time to step on the gas. We need to get this done. And I expect that it’s going to get done before Congress leaves. Otherwise, Congress may not be leaving, and we can all spend Christmas here together.”