Comments on: Federal tax increase hits middle-class more than rich

By: Rex the Wonder Dog!

Rex the Wonder Dog! — Fri, 04 Jan 2013 20:42:17 +0000

I agree 100% with Eric on #1. Good post Eric.

By: Douglas

Douglas — Fri, 04 Jan 2013 19:00:08 +0000

More “skin in the game”. It’s all good.

By: Hondo

Hondo — Fri, 04 Jan 2013 17:46:45 +0000

Why am I suprised that Obama passed a bill raising taxes on the poor at a greater rate than warren buffnut or bill gates. He had Boehner’s help.
Hondo….

By: David in Irvine

David in Irvine — Fri, 04 Jan 2013 16:52:44 +0000

As noted, the reason for this is restoration of the employee’s share of SS payroll taxes to 6.2%. This fact was basically ignored in the obsession of the media and politicians with where to set the income cut off for marginal tax rate hikes. Social Security is immoral to its core and this is only the latest example of why.

By: Eric

Eric — Fri, 04 Jan 2013 16:46:03 +0000

I’m sorry, but I just don’t understand why 2yrs of payroll tax holiday gives everyone the impression that this is the new baseline, rather than the special gift it was. This was never intended by anyone to be permanent. And how could it be? Even at the full payroll tax rates Social Security is on shaky ground.

Take payroll taxes out of the discussion as the red herring that it is, and the whole discussion changes.

Look folks, the federal budget is $1,000,000,000,000 out of balance every year–how could any better be expected? The current annual budget deficit disgusts me.