Nonsequitur: New Deal Increases Taxes For Most Americans

January 2, 2013

Yep.  As predicted, taxes will go up as part of the “fiscal cliff deal,” and not just for the wealthy.  Income tax rates will go up for the wealthy (income over $400K), but the payroll tax will increase for 77% of American households.  On average, families will see an increase of $1000 for payroll tax.  (This is on top of tax increases related to the Affordable Care Act.)

Also, as predicted, the negotiated deal will lead to an increase in deficit spending.  More taxes AND more debt.  This is a deal?

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One Response to “Nonsequitur: New Deal Increases Taxes For Most Americans”

  1. […] his new budget does include some tax increases, namely those already approved this year as part of the “fiscal cliff” agreement.  Ryan’s is a “balanced approach” as Obama has defined […]

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