SmashMouth

The president is convinced Americans need to pay more in taxes. Here's what he said yesterday.

“I think everybody out there understood that was an important debate and the majority of voters agreed with me. By the way, more voters agreed with me on this issue than voted for me! So we've got a clear majority of the American people who recognize if we're gonna be serious about deficit reduction we gotta do it in a balanced way."




But let me tell you, come January 1, you're probably not going to be happy with the amount of taxes you're paying. That's because it's not just Federal taxes that you pay.

A middle class taxpayer pays 25% percent of their income in Federal Income Tax. Sounds, ok?

Then there is the Federal Social Security and Medicare payroll tax of 13.3%. You pick up 5.65% while you're employer pays 7.65%. Add them up and that's 38.3% of middle class family incomes going to Uncle Sam. But we aren't done, not by a long shot.

According to the Tax Foundation, the average state's income tax rate on the middle class is 4.82%. Of course, some states have it and some don't, but we're taking an average here.

Now the total: 43.12% of middle class income to taxes.

Oh, and I almost forgot, unless congress makes a move, Federal Income taxes go to 28% for middle income folks next year as the Bush tax cuts expire.

Neither party has said they want that to happen, but in Washington, well, you never know.

Also the payroll tax for those folks will go to 15.3% from 13.3%percent.

Did I mention state, property, corporate, and excise taxes? No?

All told, next year, total taxes will go to almost 50% for the middle class; the very group that the president says he wants to protect. That means 50 cents out of every dollar earned has to go to the government. Half of everything will go to an entity that didn't earn that money, and shouldn't be entitled to all that dough.

Unbelievable. You think most Americans agree that's fair?


Read more: Half Your Paycheck To The Government In 2013 | Blog | The Willis Report with Gerri Willis | Fox Business

dam1953

Note that in many states, such as Ohio where I live, there are also municipal income taxes. Then, once all of the governmental entities take a giant chunk off of the top, there are additional sales taxes when we spend the few dollars we are allowed to take home.

I would like to see a poll on how many tax paying voters agree with him. Consider that about 46% of American households paid no federal income tax in 2011. Worse yet, many non-taxpayers actually receive refunds on taxes that were never paid via the Earned Income Tax Credit.

So, why wouldn't the majority of these people agree that people need to pay higher taxes. It won't come out of their pockets…..yet.

The actual numbers vary but the tax increase that Obama is proposing will have minimal impact on the deficit and absolutely zero impact on the debt. If he was serious about solving the problem he would focus on the Social Security, Medicare and Medicaid, interest on debt and other mandatory expenditures which currently account for over 60% of the US budget.

The fact that he and his party are not touching these programs clearly shows that the intent it to punish the successful and not to solve that real problem that faces this country. Washington spends too damn much money.

”It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.” Charles Darwin

saintfan

It's more than punishing the successful. It's about creating a socialist state. And further it isn't about JUST Obama. The Democratic Party's mantra is spend. That is what they do.

Their problem: There is nothing left to spend.

For example, California is actually projected to have a balanced budget in a couple years - the result of a proposition that just passed that, you guessed it, taxes us even more. On NPR this morning they're already talking about where to spend the surplus - money they don't have yet - money that is there only on paper and only if the stock market performs, which is the very damn thing they demonize - the very thing that is DOWN 5% since Oh-Bhama was re-elected.

Hello? Idiots? How about paying down some debt and putting some of those BILLIONS away for future need?

Hell no. They're dancing around like a school girl who needs to pee over where to spend their newly found riches.

Son of a mother ing sucking pieces of stupid !

I'm telling you they are going to tax and spend this country right out of existence if allowed. And this is why the republicans need to stand firm and flatly refuse to work with them at any and every opportunity.

It's GOING TO HAVE TO BURN ALL THE WAY TO THE GROUND before working people stupid enough to vote for this crap get hit hard enough with it to come to their senses.

Let this mother er burn.

Trust in Allah, but tie up your camel...

dam1953

I agree with you partially on the issue of a soclalist state. My opinion is that a socialist state is not what Obama is after. I truly believe that if allowed he would take this country all the way to communism.

It has been my opinion for quite some time that the biggest problem this country faces is the media. Unless and until the media ceases being a branch of the DNC and starts to objectively report the news it will be very difficult for any rational form of government to exist in Washington. The time has come for conservatives to band together and fight like the enemy. The only way to bring the media outlets down is to choke their source of funding. Conservatives need to start boycotting companies who advertise on biased network news programs. I personally don't think it would take much time to to start the pendulum moving in the other direction.

”It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.” Charles Darwin

SapperSaint

The "Enemy" is no longer at the gates. The "Enemy" is inside, and telling the "Soldiers" what to defend.

arsaint

Hear that laughing in the National Cathedral???

That is Woodrow Wilson laughing that his dreams of destroying the Constitution have almost come to fruition...