Let’s give a round of applause to the Democrats who conceived this fiscal cliff bill. Now let’s give a round of applause to the Republicans who caved, and allowed it to pass. But most importantly, let’s honor those top 2% of wage earners who will be paying higher taxes in 2013–oh wait, sorry, that’s 77%.
That’s correct. With higher payroll taxes, 77% of Americans will be giving more money to the government this year. Obama and the Democrats prattle on every day about how they are fighting for the middle-class; how they only want to raise taxes on “the rich;” all the while, gutting the middle-class.
According to The New York Times:
“Indeed, for most lower- and middle-income households, the payroll tax increase will most likely will equal or exceed the value of the income tax savings. A household earning $50,000 in 2013, roughly the national median, will avoid paying about $1,000 more in income taxes — but pay about $1,000 more in payroll taxes.”
Obama said this yesterday:
“We can’t simply cut our way to prosperity. Cutting spending has to go hand-in-hand with further reforms to our tax code…So we’re going to have to continue to move forward in deficit reduction, but we have to do it in a balanced way, making sure that we are growing even as we get a handle on spending…The deficit needs to be reduced in a way that’s balanced. Everyone pays their fair share. Everyone does their part. That’s how our economy works best. That’s how we grow.”
Really? I wouldn’t call a tax increase/spending cut ratio of 41/1 very balanced. In addition to that, a tax increase on 77% of Americans doesn’t seem to fit within Obama’s framework of “no new middle-class taxes.” Finally, what does “fair share” even mean? I can answer that one, actually. “Fair share” means “those who are successful need to pay more so Obama and the Democrats can spend more while looking like the heroes.”
According to Rasmussen, 62% of Americans think spending cuts in every government program are necessary. It seems like a majority of Americans understand what needs to be done, yet a majority supports this President, who has done the exact opposite. So, following this wonderful fiscal cliff deal, what do we have?
1. Higher taxes on those who create jobs.
2. Higher taxes on 77% of Americans.
3. No meaningful cuts to spending. Big surprise there.
4. Even more spending, which nearly negates new revenue.
5. New taxes to fund Obamacare.
6. A President who continues to say one thing and do the other.
7. And voters who can’t tell the difference.
Once again, we’ve been shafted. We have a deceitful President, an equally vile Senate, a House divided, and a voting public who can’t tell their right foot from their left. Happy New Year!