{"id":32212,"date":"2012-10-01T18:03:17","date_gmt":"2012-10-01T22:03:17","guid":{"rendered":"http:\/\/valorguardians.com\/blog\/?p=32212"},"modified":"2012-10-01T18:04:27","modified_gmt":"2012-10-01T22:04:27","slug":"obama-tax-hikes-loom","status":"publish","type":"post","link":"https:\/\/www.azuse.cloud\/?p=32212","title":{"rendered":"Obama tax hikes loom"},"content":{"rendered":"

Remember those “Bush tax cuts for the rich” we heard so much about for eight years? Well, it seems that now that they’re about to expire in the New Year, it’s the poorest working Americans who will suffer the most, according to the Washington Post<\/a>; <\/p>\n

For most taxpayers, the bulk of the increase would be triggered by the expiration of tax cuts enacted in 2001 and 2003 during the George W. Bush administration. The expiration of President Obama\u2019s payroll tax holiday, which shaved two percentage points off the 6.2 percent Social Security tax, comes in a close second.<\/p>\n

But the lowest earners would be hit hardest by the expiration of tax breaks enacted as part of Obama\u2019s 2009 economic stimulus package, the study found. The stimulus includes a temporary expansion of the earned income tax credit and the child tax credit for working families. And it temporarily bumps up a two-year, $1,800 tax credit for college tuition to four years and $2,500.<\/p>\n

\u201cThe fiscal cliff turns out to be quite complicated,\u201d said Donald Marron, director of the Tax Policy Center, the result of \u201can accumulating snowball of temporary tax provisions.\u201d <\/p><\/blockquote>\n

Yeah, not complicated at all by calling them “tax cuts for the rich” when they were really tax cuts for working Americans. Some people who were exempted from paying taxes because of their low wages will have to pay taxes for the first time. <\/p>\n

Just like those stupid Obama ads I see that say that Romney will raise taxes on the middle class while cutting taxes for the richest Americans. There’s not a bit truth in that, either, but you can use the the Bush “tax cuts for the rich” catch phrase as an example of how truthful the Democrats are when they talk about taxes. Like Clinton’s middle class tax cut which became the tax hike on all Americans, even Social Security recipients. Yeah, it turns out that we’re all rich according to Democrats.<\/p>\n","protected":false},"excerpt":{"rendered":"

Remember those “Bush tax cuts for the rich” we heard so much about for eight years? … Obama tax hikes loom<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[186,46,207,142],"tags":[],"class_list":["post-32212","post","type-post","status-publish","format-standard","hentry","category-2012-election","category-barack-obama","category-mitt-romneypaul-ryan","category-taxes"],"_links":{"self":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/32212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32212"}],"version-history":[{"count":0,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/32212\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}