#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.
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.