Obama raises taxes on everyone. Welcome to the 1%
How do you know a politician is lying? His lips are moving. Obama said he wanted millionaires to pay more. Well, he can’t count as his definition of millionaire starts at $400K, but he got his tax increase. He also said he wanted a balanced approach. You would think that would mean spending cuts. LOL, the deal cut yesterday RAISES spending and the National Debt by $4T by 2022. Get that… added $4,000,000,000,000. He also said he wanted to protect the middle class. Nope, he is hitting the middle class with taxes. In addition to Obamacare, everyone is getting hit with the payroll tax break going away. Oops.
I came to some conclusions yesterday:
- It would be financially more beneficial for my wife and I to file a no contest divorce and then submit individual tax returns.
- I am going to cash out my kids college funds, rename both of them “JULIA” and get them on the government dole like everyone else
- I support gay marriage now. Religion doesn’t need to recognize the union – I just want the IRS to
- My mother is worried all this anger will give me a heart attack – no worries – OBAMACARE will take care of me!
OK, so the real conclusions I came to yesterday? The looter class has lost all incentive to participate in this country. Their sole incentive is to vote for more freebies. MOCGATOR has a great video link down below to explain this. Think about it, how much better do you treat your car versus a rental car? or your house versus a hotel room. Half this country has NO OWNERSHIP in the country. NONE. They only need participate in the consumption. The deal that was signed yesterday makes the Unites States the most progressively taxed nation in the world. .7% of the population will fund 40% of total taxes. Everyone doing their fair share?
“It creates huge divisions in society and breeds contempt. It’s class warfare. It is also unsustainable because it disconnects voters. The bottom half of the population pays no income tax. That’s hugely disruptive. Those folks now have an incentive to lobby for more federal spending and it disconnects them from the cost of the federal government.”
While most taxpayers were shielded from increases in their income taxes, payroll taxes went up for everyone. The IRS issued new withholding guidelines for employers earlier this week. Some workers will see the higher deductions on Friday — others next week.
Here are some examples.
- — for a single person earning $38,000 a year, the IRS told employers to withhold $5,437 a year. That’s up $570, or $11 a week.
- — for someone earning $90,000, they will pay $19,885 — or $2,443 more than last year.
- — for someone earning $185,000, the government will withhold $49,459 — an increase of $5,977.
- — for someone earning over $400,000, payroll taxes will increase by $270 per week or $14,212 a year.