#WhyIsMyPaycheckLessThisWeek or The Reality of the Fiscal Cliff Deal

What the President said:

This week, President Obama signed the American Taxpayer Relief Act of 2012 into law. That means middle-class families won’t see an increase in their income tax rates, and the fiscal cliff has been avoided.

The reality, as only reported in a foreign newspaper, as the propaganda arm of the Democratic Party, aka, the mainstream American press failed to mention, is:

Middle-class workers will take a bigger hit to their income proportionately than those earning between $200,000 and $500,000 under the new fiscal cliff deal, according to the nonpartisan Tax Policy Center. 

Earners in the latter group will pay an average 1.3 percent more – or an additional $2,711 – in taxes this year, while workers making between $30,000 and $200,000 will see their paychecks shrink by as much as 1.7 percent – or up to $1,784 – the D.C.-based think tank reported. 

Overall, nearly 80 percent of households will pay more money to the federal government as a result of the fiscal cliff deal.

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Yes, that’s right, President Obama, as always, has that asterisk at the end of every sentence he utters.  He purposefully failed to mention that he didn’t continue the Social Security Tax holiday of 2%.   A lot of people must like being lied to.

 

 

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