Federal politicians Lie about Tax Cuts

Dear friends, 

 As usual, the government- and corporate-controlled mainstrean media has hoodwinked the public. That is, while the income tax rates have not increased, the payroll tax has gone up That means that "middle class people", on average, will get a $1, 000 to $2, 000 increase in wages taken from their checks this year. 

 Let's remember the difference between income taz and payroll tax: Income taxes are withheld from an employee's wages and go into a general fund . Payroll taxes are comprised of Medicare and Social Security taxes--also withheld from an employee's paycheck. However, the employer also pays payroll taxes to the federal government for these programs (in addition to the amount an employee pays)....Federal income tax and the Medicare tax have no limit, but the Social Security payroll tax always carries a cap. In 2008, Social Security tax topped out at 6.2 percent on an earnings maximum of $102,000. 

 As the New Yorker magazine reports today, January 2nd, 2013, and I agree, an article called THE PAYROLL TAX AND OBAMA’S NEXT FIGHT, by Amy Davidson: More outrageously, cuts to the already highly regressive payroll tax are being allowed to expire, meaning that they will rise from 4.2 per cent to 6.2 per cent. Obama didn’t even fight for them. In his statement Tuesday night, Obama described the bill as “preventing a middle-class tax hike” that could have hurt families and sent the country back into a recession; that is true, but it allowed another middle-class tax hike that could have the same effect. 

 Please don't sleep on this! 

 G. Djata Bumpus