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Saturday, October 1, 2016

All Americans Lose If Payroll-Tax Cut Isn’t Renewed

Nov. 29 (Bloomberg) — Suppose you are an unmarried doctor, making $175,000 a year. Or a store manager married to a Realtor, earning a combined $160,000. Or a journalist married to a lawyer, each making $90,000. Or the owner of a small business who takes home $120,000.

If you are lucky enough to be one of these higher-earning, working taxpayers, the chances are that you believe President Barack Obama wants to raise your taxes. You have probably read a lot about his plan to increase the burden on individuals making more than $200,000 and joint-filers bringing in more than $250,000, and you probably think you will take a hit, too.

  • omgamike

    I really cannot understand how so many Americans can be so thick when it comes to seeing through all the bull puck that the right has been spewing for over two years now.

    Open your eyes, America!! We need for the President to succeed in this.

    I don’t know of any tax increases he has pushed through. He passed a stimulus plan that “did” work. He turned around an economy that was teetering on the brink of depression — brought on by those on the right.

    Fighting two wars for ten years without paying for them. Passing a prescription drug program without paying for it — while refusing to allow competitive bidding (yet another gesture to the royal rich). And the ultimate, the Bush tax cuts — without paying for them, either. There is a major part of our deficit. Add to that the criminal moves of the financial sector, that crashed our economy. And none of those things were Obama’s fault.

    Now don’t get me wrong. Obama has done many things that I have disagreed with. But ruining the economy — and not being totally successful yet in bringing it back. Those I can’t blame him for. I applaud what he has been able to do in that sector.

    I blame him for not closing Gitmo; for not prosecuting all those who were involved in the torture of POW’s — including Cheney and Rumsfeld.

    Wake up America!!

  • DianneLee

    I don’t understand how you can believe for 10 seconds that anyone is going to get bored by the idea of families having to pay roughly $1000 more in taxes, and small businesses, who hire most of the people in the country having a similar tax hike. I can be easy bored by a lot of issues, but I don’t think many people would consider that one of them. What I don’t understand is why the Republicans appear to be suicidal, not just on this issue, but on all of those maintaining the control of the 1%.

  • peteserb

    As usual the memo publishes an article saying the republicans are against the tax cuts. When in fact the republicans have already said they would back the cuts. The memo gives credit to obama for embracing the cuts even though his administration is responsible for a failing economy. ( It’s been over three years. It’s no longer Bush’s fault) Now that the polls show that the presidents approval rating has fallen below Jimmy Carters. Perhaps it’s time to realize that any change in the Obama tax and spend philosophy is purely political.

  • Hankk

    You’ll never get through to a brainwashed republican that has heard nothing but swift boat lies from their GOP leaders. These people are not Patroits of the USA.

    hankk, MI