Friday, January 11, 2013

The Obama effect took effect today

 Few people remembered until today, that two years ago, the so called Obama tax break was impleented. No real tax break mind you, just a deferment of money away fro the one area where it was needed the most in the federal budget.

The reduction in payroll taxes for the past two years solved nothing. Just another example of one of those pointless feel good things that liberals do that in the end have a worse effect than doing nothing.

Congratulations folks, this is the guy you voted for. this is the guy who was going to provide you with all the milk and honey.

Everyone's taxes went up today
Gabriella Hoffman’s paycheck is a little lighter today, thanks to a payroll tax increase that is forcing millions of Americans to make the kind of tough budget cuts their representatives in Washington lawmakers seem unwilling to tackle.
Hoffman, a 21-year-old Virginian who works at a nonprofit, estimates her paycheck will be roughly $30 less this biweekly pay period, or about $780 annually, thanks to the end of a two-year cut on payroll taxes, which fund Social Security. The tax has risen back up to 6.2 percent from 4.2 percent, costing someone making $50,000 annually about $1,000 per year and a household with two high-paid workers up to $4,500.
“As a newly-graduated person, someone coming straight out of college, I don’t like the idea of having less money coming to me due to the selfish interests of people in Congress who don’t have any interest in reducing our financial problems,” Hoffman told “This is an impediment for future economic growth. It’s going to make it harder for young people like myself to get married, find a better job, you name it.”

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