'Fiscal Cliff' deal Obama just signed not just taxing the "rich"
There is a Horrible tax returning as the cut was allowed to expire.
Will cost the average American worker about $1,000
Will cost small businesses a hell of a lot more than that.
Here is what the 'fiscal cliff' bill really does
raises taxes and not just on the "rich" it raises taxes on everyone about 1,000 dollars for the mean salary because it allowed a tax cut to expire and Obama's payroll tax is back it's going from 4.2% to 12.4% on your wages of which you will pay half and your employer will pay half. So instead of a 2.1% tax coming out of your wages you now have to pay 6.2% basically triple so that they can pay social security. Odd too because had several presidents not spent the social security trust there would be no crisis to raise money for it.
Do you know how devastating that is for business owners to have a near 300% tax increase for every single employee? And then the employees have it too. And why? So the government can take your money. And for what Social Security? Lies! The government is wasting trillions of dollars on war of aggression and foreign aid. They should be cutting that pointless spending and paying for social security and there wouldn't have to be any payroll tax at all!
And that's just part of it. The fiscal cliff deal also raises tax on the middle class, and wealthy, but not the super wealthy or any of the corporations who have not paid any income taxes
at all for the past 4 years.