The NYT has a couple of articles one dealing with the pain the tax hikes have caused and another with how the lower income people where hit the hardest. And conveniently the NYT forgets to mention the “WHO” and “WHY” of it all in either piece. I am sure if they thought they could get away with it they would blame Boosh, but by now this tired and false excuse doesn’t even work with the cultists anymore. That first NYT article I link begins with the following:
WASHINGTON — Only the most affluent American households will pay higher income taxes this year under the terms of a deal that passed Congress on Tuesday, but most households will face higher payroll taxes because the deal does not extend a two-year-old tax break.
The legislation, which was forged in the Senate and overcame resistance in the House late Tuesday will grant most Americans an instant reversal of the income tax increases that took effect with the arrival of the new year. Only about 0.7 percent of households will be subject to an income tax increase this year, according to the Tax Policy Center, a nonpartisan research group in Washington. The increases will apply almost exclusively to households making at least half a million dollars, the center estimated in an analysis published Tuesday.
But lawmakers’ decision not to reverse a scheduled increase in the payroll tax that finances Social Security, while widely expected, still means that about 77 percent of households will pay a larger share of income to the federal government this year, according to the center’s analysis.
The tax this year will increase by two percentage points, to 6.2 percent from 4.2 percent, on all earned income up to $113,700.
Indeed, for most lower- and middle-income households, the payroll tax increase will most likely equal or exceed the value of the income tax savings. A household earning $50,000 in 2013, roughly the national median, will avoid paying about $1,000 more in income taxes — but pay about $1,000 more in payroll taxes.
Note what’s missing? Who wanted this stuff and why, that is. I don’t feel like rehashing the whole thing here, because the same lame people will end up bringing out the same lame excuses, and we will again go around and around with people that think Marx understood economics. But the short of it is that they did this because Team Blue under Obama has been running trillion dollar plus a year deficits which have increased our debt by over $5 trillion in 4 years. Remember when the Boosh deficits where evil at fractions of these numbers? Heh.
Anyway, in a nutshell, faced with out of control debt that was going to skyrocket at an even higher pace because of some horribly fiscally irresponsible wealth redistribution schemes of like the most horrible piece of legislation ever passed in the US and the concocted deal to force themselves to do something about this unsustainable and destructive trend of spending more than they could take in, with all that spending being mostly vote buying social engineering schemes despite the lies to the contrary, they had to do something to balance the sheets. So the tax and spenders pretended they would do cuts, did none, and jacked up taxes on everyone. This was all Team Blue, led by the king of wealth redistribution, Obama. But the NYT conveniently forgets to point that out.
But it doesn’t stop with them conveniently not pointing out that Obama and the donkeys where behind this pain. Oh no. They fluff up that first piece by pretending that Team Blue and Obama actually did everyone a favor!
The Obama administration did win a five-year extension of tax breaks for lower-income families, including the child tax credit and earned-income tax credit. Those credits eliminate income tax liability for many lower-income families. In many cases, the government actually makes a direct payment to the family to help offset the burden of payroll taxation — up to $1,000 a child under the child credit and up to $5,900 total under the earned income credit.
That second article sure begs to differ. And ain’t it funny how those evil Boosh tax cuts that they repeatedly tried to blame their insane deficit spending gaps of the last 5 years on suddenly have become Obama’s great tax breaks, huh? Obama helped you serfs out. And since we don’t mention he is also behind the stuff that jacked up the other taxes and your healthcare payments, we hope you think this guy has really done you a solid and that the fault government is taking even more of your money is someone else’s. Hopefully you will even believe it was the other guys that are fighting the war on women and everything good. Let me also mention that Obama wants more taxes, and that everyone will have to be hit to cover the massive spending vs. government income gap. Team Blue is not going to give any kinds of cuts either.
At least I can take consolations that Team Blue and Obama’s greatest fans are the ones getting hammered the hardest by these assholes they stuck us with for another 4 years. Those young people that voted in higher numbers for Team Blue are stressing, and can’t seem to understand the reason they are stressing is the nonsense they believe in and the people they vote to do it to them, just like minority voters which also voted in record numbeue are losing their wealth at an accelerated pace, while Team Blue is pretending the wealth redistribution schemes they used to buy these people should make their lot better. Good luck with that. Life has a way of making sure stupid people get the lesson from the school of hard knocks. Unfortunately these people tend to double down on their stupid instead of realizing they are being had. Thriving on your envy and greed of what others have is always easier than doing the right thing, I guess, and letting go, even when you are getting screwed royally, is harder than it looks.