Obama/Republicans reach deal on new budget before Fiscal Cliff

[Dolphins9954]

Taxes go up on 77% of Americans including the "middle class". No spending cuts and trillions more in debt. What a total crock of ****. The GOP deserves to be burned at the stake and salt poured on their ashes. Where's Guy Fawkes at???

[JackFinfan]

Taxes go up on 77% of Americans including the "middle class". No spending cuts and trillions more in debt. What a total crock of ****. The GOP deserves to be burned at the stake and salt poured on their ashes. Where's Guy Fawkes at???

That 77% number is a bit misleading. Income Taxes only go up for single taxpayers making over $400,000 and married making over $450,000. That is the only true tax increase.

The other "tax increase" that makes up most of your 77% number is returning the employee paid Social Security back to 6.2%. We all knew that the 4.2% we paid in 2012 was a temporary measure, and never intended to be made permanent.

I know it's all semantics but I think it's misleading when people call restoring rates from a temp cut a tax hike. It would be like if a grocery store had a one week sale on a 24 pack of soda, and I complain to the store manager the next week about them raising their prices on soda 24 packs by a dollar.

[jared81]

That 77% number is a bit misleading. Income Taxes only go up for single taxpayers making over $400,000 and married making over $450,000. That is the only true tax increase.

The other "tax increase" that makes up most of your 77% number is returning the employee paid Social Security back to 6.2%. We all knew that the 4.2% we paid in 2012 was a temporary measure, and never intended to be made permanent.

I know it's all semantics but I think it's misleading when people call restoring rates from a temp cut a tax hike. It would be like if a grocery store had a one week sale on a 24 pack of soda, and I complain to the store manager the next week about them raising their prices on soda 24 packs by a dollar.

whats not misleading is this did nothing to really bring down own deficit. and unless all of us get serious, we are in for a crash. that means, taxes need to be raised on everyone, and spending should be slashed.

[Dolphins9954]

That 77% number is a bit misleading. Income Taxes only go up for single taxpayers making over $400,000 and married making over $450,000. That is the only true tax increase.

The other "tax increase" that makes up most of your 77% number is returning the employee paid Social Security back to 6.2%. We all knew that the 4.2% we paid in 2012 was a temporary measure, and never intended to be made permanent.

I know it's all semantics but I think it's misleading when people call restoring rates from a temp cut a tax hike. It would be like if a grocery store had a one week sale on a 24 pack of soda, and I complain to the store manager the next week about them raising their prices on soda 24 packs by a dollar.

I just saw on TV that just about everyone is having their payroll taxes go up. It was on CNN(sorry). They had a chart with people from 25,000 a year to 100,000 a year and how much more will now come out of their paychecks.

[JackFinfan]

I just saw on TV that just about everyone is having their payroll taxes go up. It was on CNN(sorry). They had a chart with people from 25,000 a year to 100,000 a year and how much more will now come out of their paychecks.

You're correct, like I previously stated, it will go up from 4.2% to 6.2%. But, my point was that the 4.2% was a temporary measure to help out people during the recession. It wasn't passed with the intent to be a permanent cut. It's not going up from its original amount, it's just being restored back to the amount it was. Calling it a tax increase is techincally true, but it's a bit misleading if you don't understand the whole story.

[Dolphins9954]

You're correct, like I previously stated, it will go up from 4.2% to 6.2%. But, my point was that the 4.2% was a temporary measure to help out people during the recession. It wasn't passed with the intent to be a permanent cut. It's not going up from its original amount, it's just being restored back to the amount it was. Calling it a tax increase is techincally true, but it's a bit misleading if you don't understand the whole story.

Taxes go up for the majority of us while trillions more are added to the debt. Nothing misleading about that.

[JackFinfan]

Taxes go up for the majority of us while trillions more are added to the debt. Nothing misleading about that.

Let's say you lost your job, and your landlord decided to be nice and take off $100 a month for a year. The next year he restores the rent back to what you were paying. Would you complain that your rent went up?

It's misleading when you just say it's a tax hike on 77% of us, and you don't provide the context. The truth is none of us are going to pay a cent more on our Form 1040 then we were last year, and you won't pay a cent more in any tax then you were in 2010.

[Dolphins9954]

Let's say you lost your job, and your landlord decided to be nice and take off $100 a month for a year. The next year he restores the rent back to what you were paying. Would you complain that your rent went up?

It's misleading when you just say it's a tax hike on 77% of us, and you don't provide the context. The truth is none of us are going to pay a cent more on our Form 1040 then we were last year, and you won't pay a cent more in any tax then you were in 2010.

I would complain that my landlord isn't paying on the house and that it's under foreclosure. While he decides to raise the rent back up again. I get what you're saying but you're totally ignoring the fact that the government continues to be irresponsible with our money while raising taxes. Hundreds of millions in new taxes and no cuts in spending. The debt continues to go up and the military industrial complex wins again. It's a horrible bill no matter how you cut it.

[JackFinfan]

I would complain that my landlord isn't paying on the house and that it's under foreclosure. While he decides to raise the rent back up again. I get what you're saying but you're totally ignoring the fact that the government continues to be irresponsible with our money while raising taxes. Hundreds of millions in new taxes and no cuts in spending. The debt continues to go up and the military industrial complex wins again. It's a horrible bill no matter how you cut it.

I totally agree with you about the bill. It did nothing but "kick the can."

[phins_4_ever]

I would complain that my landlord isn't paying on the house and that it's under foreclosure. While he decides to raise the rent back up again. I get what you're saying but you're totally ignoring the fact that the government continues to be irresponsible with our money while raising taxes. Hundreds of millions in new taxes and no cuts in spending. The debt continues to go up and the military industrial complex wins again. It's a horrible bill no matter how you cut it.

Yeah, but what if the house went into foreclosure because you didn't pay your rent in full and the guy had a loss of income?

There is no tax increase. The tax reduction under Bush was temporary from the get go. It was always supposed to go back. The SS reduction was also temporary. It is nothing else than going back to the old rates.

Tax revenue alone will never solve the debt issue. Only revenue and cuts. And yes the defense budget has to be cut. Write your GOP senator on that issue.

---------- Post added at 04:51 PM ---------- Previous post was at 04:51 PM ----------

Let's say you lost your job, and your landlord decided to be nice and take off $100 a month for a year. The next year he restores the rent back to what you were paying. Would you complain that your rent went up?

It's misleading when you just say it's a tax hike on 77% of us, and you don't provide the context. The truth is none of us are going to pay a cent more on our Form 1040 then we were last year, and you won't pay a cent more in any tax then you were in 2010.

You are making to much sense.