Tax Day rhetoric aside, Americans' bills are lower

[ClarkUSA]

Source: AP

Tax Day rhetoric aside, Americans' bills are lower
Americans paying less taxes this year despite Tax Day rhetoric, increases by struggling states

WASHINGTON (AP) -- You wouldn't know it by the Tax Day rhetoric, but Americans are paying lower taxes this year, even with increases passed by many states to balance their budgets... Congress cut individuals' federal taxes for this year by about $173 billion shortly after President Barack Obama took office, dwarfing the $28.6 billion in increases by states.... Some future increases were enacted as part of Obama's health care overhaul. And former President George W. Bush's tax cuts expire in January. Obama and the Democrats want to renew only some of them, thus raising taxes for individuals making more than $200,000 and couples making more than $250,000... Republicans in Congress and conservatives across the country portraying Democrats as tax-and-spend liberals even before any new levies are approved. The discussion also is helping frame the congressional elections this fall... Grover Norquist, president of Americans for Tax Reform, said conservatives didn't see any need to wait before protesting.

<snip>

The massive economic recovery package enacted last year included about $300 billion in tax cuts over 10 years... The most generous was Obama's Making Work Pay credit, which gives individuals up to $400 and couples up to $800 for 2009 and 2010. The $1,000 child tax credit was expanded to more families, and the working poor can qualify for as much as $5,657 from the Earned Income Tax Credit.

There were also credits for qualified families who buy new homes or make energy improvements to existing ones, as well as tax breaks to help pay college tuition or buy new cars... For the first time, the Medicare payroll tax would be applied to investment income, beginning in 2013. A new 3.8 percent tax would be imposed on interest, dividends, capital gains and other investment income for individuals making more than $200,000 a year and couples making more than $250,000.

The bill also would increase the Medicare payroll tax by 0.9 percentage point to 2.35 percent on wages above $200,000 for individuals and $250,000 for married couples filing jointly.

http://finance.yahoo.com/news/Tax-Day-rhetoric-aside-apf-3276228499.html?x=0

Heads-up! Jane Hamsher's favorite Republican Grover Norquist is publicly leading the rhetorical charge against "tax-and-spend" Democrats to drive out the GOP teabagger base for the midterms, even though any future tax increases because of HCR would fall on those making over $200,000-$250,000 a year.

[jenmito]

1. You'd think that when the teabaggers get their taxes filed and they get money BACK,

they'd FINALLY realize that the Repubs. were lying to them when they said Obama was taxing them to death. :eyes:

[Andy823]

2. Yeah

You would think that, but you have to take into consideration that the tea party gang doesn't do any "thinking" on their own, they let the right wing fear and smear machine do all their thinking for them! They simply listen to the clowns on the right, like Limbaugh and Beck, and whatever they tell them, they believe it no matter what the "facts" show! These people are so brainwashed they cant function without their daily "fix" from the right wing nuts!

[jenmito]

3. But when they get a refund, they MUST realize they're not PAYING money to the govt.

Whether they think or not, they can't deny that there is more money in their pocket than they thought there'd be, can they?