A cliff deal signed. The Obama Administration claim it is a victory for the middle class. Is it?
The Administration had never uttered a word on the social security tax hikes (Payroll tax holiday in the figure). Tax Policy Center has calculated that 46% of the additional taxes raised in 2013 will come from the bottom 80%.
Granted that the Obama Administration runs annual deficits of over a trillion dollars a year. It indeed is way too irresponsible on the side of who is in charge of our tax money. Or say, are they counting zeros right?
The deal may indicate that all the enormous amount of money the financial institutes and the rich poured in to the Republican party for the last election is now just proven to have been wasted. Is that the reason why the Republicans are silent on this issue? Did the Republicans lose their financial supports?
Let me just ask this: what is the difference between Republicans and Democrats? The conservatives do talk like liberals nowadays.
The new Congress starts today. A record number of 20 female senators sworn in. The same old new agenda will be on the table. There will be discussions on filibuster rules, gun regulations, and other social issues. Ultimately, though, it is about our tax money, how to use it, in what area for what purposes.
The Administration must cut spending. The deficit is way too much. Our taxes are up. There will be more tax hikes if this spending continue. Let us hope, the new Congress will take up the issue of cutting spending seriously and then, give our taxes back to us.
The Administration had never uttered a word on the social security tax hikes (Payroll tax holiday in the figure). Tax Policy Center has calculated that 46% of the additional taxes raised in 2013 will come from the bottom 80%.
Granted that the Obama Administration runs annual deficits of over a trillion dollars a year. It indeed is way too irresponsible on the side of who is in charge of our tax money. Or say, are they counting zeros right?
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| Courtesy of BBC |
Let me just ask this: what is the difference between Republicans and Democrats? The conservatives do talk like liberals nowadays.
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| Democrats won the race |
The new Congress starts today. A record number of 20 female senators sworn in. The same old new agenda will be on the table. There will be discussions on filibuster rules, gun regulations, and other social issues. Ultimately, though, it is about our tax money, how to use it, in what area for what purposes.
The Administration must cut spending. The deficit is way too much. Our taxes are up. There will be more tax hikes if this spending continue. Let us hope, the new Congress will take up the issue of cutting spending seriously and then, give our taxes back to us.