Senate-Passed Deal Means Higher Tax on 77% of Households

[NYcarbineer]

If Obama somehow has to take the 'blame' for the payroll tax increase,

then he also has to get 'credit' for all of the tax cuts in the bill.

There are no tax cuts.
Everyone, earning up to just under $114k per year plus all employers paying those people got a 67%( 4.2% up to 6.2%) payroll tax increase.

The bill cuts taxes for 99% of Americans. Obama gets the credit.

 

[OohPooPahDoo]

oh well
links in article at site

SNIP:

By Richard Rubin - Jan 1, 2013 12:54 PM CT.
.
513 Comments

Print
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.

No it doesn't. Payroll taxes are going up because the law that lowered them in the first place has an expiration and it is now. It has nothing to do with the law passed on the 1st.


If any of you righties are uncomfortable with that send a check to the U.S. Treasury in the amount of the payroll taxes you've saved since 2010 and pretend there was never a payroll tax holiday.

 

[saveliberty]

to pass something in the Senate, you need republican votes. Also you forgot to mention, the kkk-nazi republicans in the house would not go along with it unless it had stuff in it. so THANK YOU republicans.

Why do you need Republican votes in the Senate again?

Cause you can bust it up with out a super majority, or support from the house. SO republicans crossed the picket line this time and voted.

Wrong, it passes the Senate with a majority, same as the House.

 

[NYcarbineer]

So you're in denial that a fiscal cliff bill passed NYC? How funny!

I'm saying that the Congress did not include a payroll tax cut extension in the bill they sent the president to sign,

therefore it is not in his power to extend or not extend the payroll tax cut.

Use your head.

It was a Senate bill NYC. That means Democrats wrote it.

Obama isn't in the Senate.

89 Senators voted for it. Do you need to know how many Republicans voted for it?

You're trying to blame Obama for a tax increase that isn't in the bill, and yet you won't give him credit for the tax cuts that are in the bill.

That's irrational.

 

[saveliberty]

If Obama somehow has to take the 'blame' for the payroll tax increase,

then he also has to get 'credit' for all of the tax cuts in the bill.

There are no tax cuts.
Everyone, earning up to just under $114k per year plus all employers paying those people got a 67%( 4.2% up to 6.2%) payroll tax increase.

The bill cuts taxes for 99% of Americans. Obama gets the credit.

Not even close on the percentage.

 

[saveliberty]

I'm saying that the Congress did not include a payroll tax cut extension in the bill they sent the president to sign,

therefore it is not in his power to extend or not extend the payroll tax cut.

Use your head.

It was a Senate bill NYC. That means Democrats wrote it.

Obama isn't in the Senate.

89 Senators voted for it. Do you need to know how many Republicans voted for it?

You're trying to blame Obama for a tax increase that isn't in the bill, and yet you won't give him credit for the tax cuts that are in the bill.

That's irrational.

What tax cuts?

 

[NYcarbineer]

It was a Senate bill NYC. That means Democrats wrote it.

Obama isn't in the Senate.

89 Senators voted for it. Do you need to know how many Republicans voted for it?

You're trying to blame Obama for a tax increase that isn't in the bill, and yet you won't give him credit for the tax cuts that are in the bill.

That's irrational.

What tax cuts?

The Bush tax cuts that expired.

 

[NYcarbineer]

BTW, this is what you're supporting by supporting the payroll tax cut:



The payroll tax cut has had a negative effect on the annual operations of Social Security. Since its inception it has:

•Reduced Social Security payroll revenues 16 percent; and,

•Decreased revenue $103 billion in 2011 and an estimated $112 billion in 2012.

Though seemingly a drop in the bucket, the payroll tax cut increased Social Security’s real unfunded liability by $215 billion plus interest.

The Payroll Tax Holiday | NCPA

 

[thereisnospoon]

oh well
links in article at site

SNIP:

By Richard Rubin - Jan 1, 2013 12:54 PM CT.
.
513 Comments

Print
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.

all of it here
Senate-Passed Deal Means Higher Tax on 77% of Households - Bloomberg

You can thank your republican house people. Thanks Cantor, he even wants to with hold disaster relief from sandy victims.

BZZZZZZZZZZZZZZZZZZZ...WRONG!!!! Thanks for playing.
There was 50 billion dollars in pork in the original bill.
They passed a $9 billion dollar spending bill passed which limits spending to the victims of the storm.

 

[thereisnospoon]

Obama isn't in the Senate.

89 Senators voted for it. Do you need to know how many Republicans voted for it?

You're trying to blame Obama for a tax increase that isn't in the bill, and yet you won't give him credit for the tax cuts that are in the bill.

That's irrational.

What tax cuts?

The Bush tax cuts that expired.

Which means INCOME tax rates stayed the same. How is that a CUT?
I knew this was going to be the spin..
It's not working.
We see right through this nonsense.

 

[saveliberty]

Obama isn't in the Senate.

89 Senators voted for it. Do you need to know how many Republicans voted for it?

You're trying to blame Obama for a tax increase that isn't in the bill, and yet you won't give him credit for the tax cuts that are in the bill.

That's irrational.

What tax cuts?

The Bush tax cuts that expired.

The Bush tax cuts didn't expire, they were renewed prior to expiration. Obama did let them expire for some Americans though.

 

[thereisnospoon]

BTW, this is what you're supporting by supporting the payroll tax cut:



The payroll tax cut has had a negative effect on the annual operations of Social Security. Since its inception it has:

•Reduced Social Security payroll revenues 16 percent; and,

•Decreased revenue $103 billion in 2011 and an estimated $112 billion in 2012.

Though seemingly a drop in the bucket, the payroll tax cut increased Social Security’s real unfunded liability by $215 billion plus interest.

The Payroll Tax Holiday | NCPA

Nice try. The federal government has been stealing SS money for decades.
The money is replaced with IOU's. The reduction of the payroll tax rate had a negligible effect on the overall revenue.

 

[NYcarbineer]

BTW, this is what you're supporting by supporting the payroll tax cut:



The payroll tax cut has had a negative effect on the annual operations of Social Security. Since its inception it has:

•Reduced Social Security payroll revenues 16 percent; and,

•Decreased revenue $103 billion in 2011 and an estimated $112 billion in 2012.

Though seemingly a drop in the bucket, the payroll tax cut increased Social Security’s real unfunded liability by $215 billion plus interest.

The Payroll Tax Holiday | NCPA

Nice try. The federal government has been stealing SS money for decades.
The money is replaced with IOU's. The reduction of the payroll tax rate had a negligible effect on the overall revenue.

Where should the SS trust fund assets be?

 

[DiamondDave]

A lock box

 

[NYcarbineer]

What tax cuts?

The Bush tax cuts that expired.

The Bush tax cuts didn't expire, they were renewed prior to expiration. Obama did let them expire for some Americans though.

The Bush tax cuts expired December 31st, 2012.

 

[NYcarbineer]

A lock box

What does that mean?

 

[DiamondDave]

A lock box

What does that mean?

Kept away from the prying hands of government where they dip their hands in the pot to spend it on other things... it should not be there in the form of IOU's.. it should be kept and funded to be liquid and not raped and then paid out by borrowing even more

 

[Ravi]

Every year Floriduh has a sales tax holiday and when it ends it means the Republicans of Floriduh have raised our taxes!!!

^rightwingnutter logic.

So your Holiday has no specific end date? How interesting. Oh wait, it does, so that would be a worthless comparision from a dishonest poster. Your pattern of circular logic gets to be tiresome and predictable Ravi. Gloves are off today. Be careful.

The payroll tax break had an end date so you fail.

 

[Ravi]

Every year Floriduh has a sales tax holiday and when it ends it means the Republicans of Floriduh have raised our taxes!!!

^rightwingnutter logic.

Dear dummy..Florida has no state INCOME tax....Sheesh.

That's why I used the sales tax as an example of your logic, idiot.

 

[Stephanie]

Every year Floriduh has a sales tax holiday and when it ends it means the Republicans of Floriduh have raised our taxes!!!

^rightwingnutter logic.

So your Holiday has no specific end date? How interesting. Oh wait, it does, so that would be a worthless comparision from a dishonest poster. Your pattern of circular logic gets to be tiresome and predictable Ravi. Gloves are off today. Be careful.

The payroll tax break had an end date so you fail.

lol, unfortunately the Dear Leader forgot to inform the people of that..

They aren't real happy seeing it in their paychecks from what I'm seeing..

dupes