Bush tax cuts

The Fiscal Cliff Fact Check

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Checking the facts on President Obama and the ‘fiscal cliff’ deal.

There are some important facts which President Obama fails to mention in a Web video concerning the fiscal deal that leave the wrong impression concerning its impact on both the deficit and the taxpayers:

The president tells everyone that “middle-class families” Re not going to have to pay anywhere up to $2000 in additional taxes this coming year. This is certainly true in regard to income taxes however Obama fails to also tell the public about a payroll tax cut expiring. That expiration means that approximately 77% of all … Read the rest

Fiscal Cliff Deal – 77 Percent Of All Americans Set To Pay More Taxes

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Fiscal Cliff Deal

The President has claimed that the Tuesday night fiscal cliff deal will reduce middle class taxes in America. However, taxes for most Americans will increase in 2013. The tax relief that has been built into the package will add nearly $4 trillion per year for the next 10 years to the existing $16 trillion debt. The fiscal cliff deal passed by the Senate and the Congress will not stop the Social Security payroll tax cut from expiring. This means that more than 75 percent of American households will face a higher federal tax liability in 2013.

Tax … Read the rest