Bloomberg: Senate-Passed Deal Means Higher Tax on 77% of Households
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.
While the white house web site declares victory:
Raises $620 billion in revenue according to Congress’ Joint Committee on Taxation by achieving the President’s goal of asking the wealthiest 2 percent of Americans to pay more while protecting 98 percent of families and 97 percent of small businesses from any income tax increase.
The WH is using a mere play on words, as the payroll tax is increasing, but this is not technically (in their own minds, at least), an “income tax.” So, your taxes are in fact going up, but the White House can claim it protected the middle class from increases in “income taxes.” In other words, they think you are stupid and won’t catch them in this little white lie.
And as for the republicans, they agreed to tax increases first, and then spending cuts later. Lawmakers are old enough to be familiar with the phrase “I will gladly pay you Tuesday for a hamburger today.”
These are the people who assert they are smart enough to manage the economy, their management of which is an obvious disaster. These are the same people who want to take away your last means of asserting your own liberty here on planet earth. And there are some who try to make the argument that we should trust them. It’s just incredible.