Senate-Passed Deal Means Higher Tax on 77% of Households by Richard Rubin on Bloomberg
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.
Yep, way to go Congress, tax the middle class, give yourselves a payraise, and cut spending by less than a fingernail. Great. For every dollar in spending cut, we are having our taxes raised 41 dollars. Now that seems fair, sure. Keep on spending like a profligate and increase the burden on the common man so you can do it. If our businesses ran this way, we wouldn't have to worry about it for long, they would go bankrupt, and then wouldn't have any money with which to pay taxes. Hey, wait a minute... if we planned this right, and all the businesses cooperated, we could pull this off.... it would be tough for a while, back to bartering and (shock) living rough, but I think we are in for that anyway. Maybe we would at least have the prospect of shrinking government back to its proper place, and learning to take care of each other again instead of expecting the state to do so. That is what community is for, not government. Maybe we could even relearn how to stand on our own feet again? Maybe....
We are not being served by our elected officials, they are "ruling" us and stealing our hard-earned money in many more ways. All the while they become multi-millionaires and take money from us to give to freeloaders, many of whom are illegal aliens. If they don't stop it, we will.
ReplyDelete