Tuesday, January 1, 2013

January 1st . Musings ..............

Welcome in 2013 . It's all about Taxes now.
HAPPY NEW YEAR! it's 2013 . Can't believe it we are being told that we just nearly averted a fiscal cliff.You can lead a person to Congress, but you can not make them think... is the saying right now . You know too that the news media can not get some facts straight how much our taxes are going to go up next year . On top of that we have a new 'Healthcare Taxes' that are going straight from your wallet . What a shock, the government agreed to take more taxpayer money and not cut their own spending by any significant amount. It's all about those people who make over 400,000 $ a year . I just heard that even if you make 50,000 a year you could be forking up 80 dollars more a month . It's the little guy that is going to get hit more than the upper Middle- Class of those that make over 100,000 a year. It's a typical "double speak" by the lawmakers in Congress to confuse the rest of the "public" on the cliff deal. In a New Year's drama that climaxed in the middle of the night, the Senate endorsed the legislation by 89-8 early Tuesday.The vote in the Senate was 89-8.. So all but 8 are misguided, and in 'caghoots' with an Obama conspiracy?? LOL.. Really?? so, maybe the 'weepy orange' man, Boehner will rescue the rightwingers from the terrible fate of raising taxes on the top 2%, those making over 450,000$ a year.. Thats what the rightwing is spouting? Thats what they're selling? LOL.. Never has there been such a stubborn bunch, that cant seem to let their fear, predjudice and hatred, turn them in to cartoon characters, persuing some kind of crusade to save America from a minority, a progressive, in the WhiteHouse.. Its unfortunate.. It would prevent middle-class taxes from going up but would raise rates on higher incomes. It would also block spending cuts for two months, extend unemployment benefits for the long-term jobless, prevent a 27 percent cut in fees for doctors who treat Medicare patients and prevent a spike in milk prices. The measure ensures that lawmakers will have to revisit difficult budget questions in just a few weeks, as relief from painful spending cuts expires and the government requires an increase in its borrowing cap.The measure is the first significant bipartisan tax increase since 1990, when former President George H.W. Bush violated his "read my lips" promise on taxes. It would raise an additional $620 billion over the coming decade when compared with revenues after tax cuts passed in 2001 and 2003, during the Bush administration. But because those policies expired at midnight Monday, the measure is officially scored as a whopping $3.9 trillion tax cut over the next decade.Allowed to lapse was a 2 percentage point cut in the Social Security payroll tax first enacted in late 2010 to help prod consumer spending and goose the economy. It meant an extra $1,000 in the wallets of typical families earning $50,000 annually. An extension of the cut — which temporarily reduced the tax to 4.2 percent — lacked strong support from both parties, including the White HouseThe biggest hit to the economy is expected to come from the end of a two-year Social Security tax cut. The so-calledpayroll tax is scheduled to bounce back up to 6.2 percent from 4.2 percent in 2011 and 2012, amounting to a $1,000 tax increase for someone earning $50,000 a year. If what is being reported by the CBO is true, we just fell off that fiscal cliff. $1 in spending cuts for every $41 in tax increases? You can't honestly declare a victory when you're going to keep spending us into a hole. Sooner or later the bills come due. That's gonna hit all of us, rich and poor alike. And every fool who voted for that mess should be sacked, regardless of party.

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