Middle Class Got Fleeced

The day after the president and his liberal cohorts hit 77% of American households with a tax increase the Associated Press wrote:

So, all of you "Let's get the rich" Obamaheads just swallowed the kool-aid. All that posturing by the president  all these months about how he was all for the middle class, they needed a break. The truth is they, and just about everyone else, just got fleeced by your guy. Check your paychecks in a couple of weeks. About 2% of it will be missing. (And don't forget about Obamacare. There are a slew of taxes you'll enjoy coming from it).

Call it what you will, this was not a bill to avoid the so-called "fiscal cliff." It was a tax bill, orchestrated and forced upon the citizenry by the Democrats, pure and simple. Read more: Deal Means Higher Taxes For Most - $4 Trillion Added To Deficit

Wind Power

The president had said he wanted a 'balanced approach' to the deal between revenue and spending cuts. Add this to another in a long list of untruths attributed to this president. the truth is Mr. Obama never had any intention of putting 'meaningful' spending cuts in the bill. For every $41 in tax revenue there is $1 in spending cuts. The revenue collected from the tax hikes totals $620 billion ( not enough to run the federal government for 9 days) while adding $4 trillion to the deficit.

There are tax credits in the bill, including $12.1 billion for the wind power industry. Apparently the taxpayer money the president blew on several alternative power companies, like bankrupt Solyndra, was not enough. Read More: Wind Reaps Billions in Tax Credits 

Wind energy was not the only entity that recieved tax credits while taxpayers reveived no credit. Read More: Corporate Tax Credits

Want more? The bill includes tax credits of:

• $222 Million for run producers in Puerto Rico
• $59 Million for algae growers
• $248 Million for Hollywood
• $78 Million for NASCAR
• $7 Million for electric motorcycle manufacturers

...and there's much more.

The middle class, and America got fleeced.








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