By The Right Scoop


Heritage put together this list of tax increases that started on Jan 1, 2013. Isn’t Obama’s economy great?

Tax increases in the fiscal cliff deal:

1. Payroll tax: increase in the Social Security portion of the payroll tax from 4.2 percent to 6.2 percent for workers. This hits all Americans earning a paycheck—not just the “wealthy.” For example, The Wall Street Journal calculated that the “typical U.S. family earning $50,000 a year” will lose “an annual income boost of $1,000.”

2. Top marginal tax rate: increase from 35 percent to 39.6 percent for taxable incomes over $450,000 ($400,000 for single filers).

3. Phase out of personal exemptions for adjusted gross income (AGI) over $300,000 ($250,000 for single filers).

4. Phase down of itemized deductions for AGI over $300,000 ($250,000 for single filers).

5. Tax rates on investment: increase in the rate on dividends and capital gains from 15 percent to 20 percent for taxable incomes over $450,000 ($400,000 for single filers).

6. Death tax: increase in the rate (on estates larger than $5 million) from 35 percent to 40 percent.

7. Taxes on business investment: expiration of full expensing—the immediate deduction of capital purchases by businesses.

Obamacare tax increases that took effect:

8. Another investment tax increase: 3.8 percent surtax on investment income for taxpayers with taxable income exceeding $250,000 ($200,000 for singles).

9. Another payroll tax hike: 0.9 percent increase in the Hospital Insurance portion of the payroll tax for incomes over $250,000 ($200,000 for single filers).

10. Medical device tax: 2.3 percent excise tax paid by medical device manufacturers and importers on all their sales.

11. Reducing the income tax deduction for individuals’ medical expenses.

12. Elimination of the corporate income tax deduction for expenses related to the Medicare Part D subsidy.

13. Limitation of the corporate income tax deduction for compensation that health insurance companies pay to their executives.

MORE…

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  • http://pulse.yahoo.com/_OQI5D66OXO7X2FE4NVCZC7BAMA Joe

    Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha !!

    democRATS thought only Republicans were getting the increases !

    • conservative58

      Hey Liberals — Do YOU feel our PAIN yet?

      Just wait — you will — sooner or later.
      :-)

      • Jazzee

        LOL LOL

  • aposematic

    Stealing the peoples wealth one Bill at a time. What you gonna do when they come for YOU!

  • http://www.facebook.com/people/Steven-Valdez/1806887704 Steven Valdez

    lucky 13?

  • MiketheMarine

    Bend over and lube up folks. We’re about to get the big federal weener.

    • http://no-apologies-round2.blogspot.com/ AmericanborninCanada

      OY! Mind bleach myMarine is at a premium these days. Good thing I have a secret stash out it the back. Afternoon myMarine! :-)

      • MiketheMarine

        That is a slightly altered version of a very common Marine Corps Saying but the subject is “the big green weenie.” You can figure out the rest.

        LOL, Sorry, Duckie, LOL

        • http://no-apologies-round2.blogspot.com/ AmericanborninCanada

          lol. Good grief…

  • johnos2112

    All you Republicans that allowed this to happen: %&*# off!

  • sjmom

    As more Dems receive layoff notices they won’t have to contend with tax increases. The feds will also eventually run out of businesses and corporations to tax because they will either shut down or move to a less taxed country. Then, the freebies will stop and the unemployed will have to find a way to fend for themselves.

    This one thing I am sure of; everyone who voted for Obama will rue the day they cast their vote for him. It’s inevitable and the only question is how long it will take for my words to come to pass.

    • http://www.royaldukedesign.weebly.com/ SilentTexan

      and it really, REALLY sucks that we have to be dragged down along with them! *glub, glub, glub*

      I don’t like this “fairness” :(

    • Nukeman60

      Since unemployment gets taxed much like payrolls, when only unemployed people are left, Pelosi will say we need to tax them more to compensate for the lost revenue. She already believes that unemployment is the biggest boon to the economy as it is.

      With everybody on unemployment, we will be set just fine (well, at least Pelosi will, anyway).

  • http://www.facebook.com/people/Liberty-AtStake/100002159374121 Liberty At’Stake

    It’ll be Bush’s fault when the double dip recession comes.

  • Sandra123456

    Hopefully the payroll tax increase will make ex-Democrats out of lot of people. That is almost a 50% raise in the rate.

    • joyfulgiver

      Oh, I’ve tried to explain that on other sites, but they are already taking one for the saint, their response is it wasn’t ours in the first place, it’s just being adding back in since it was originally 6.2% before the Bush tax cuts. They don’t get it! It’s our money and most of us will NEVER see it when it comes time to retire.

  • http://no-apologies-round2.blogspot.com/ AmericanborninCanada

    Well, I think we cleared about 12 grand last year…. I imagine there’s some hidden taxes somewhere that we’ll be paying too. But HEY! I’ve got bark and cactus’ and it’s worth millions. I’ll pay them out of that!
    Ba.. now, darn it my fingers want to keep typing a bad word and I’m trying to be a good duck.

    • http://www.royaldukedesign.weebly.com/ SilentTexan

      that’s why asteriks and symbols are your friend, my friend! ;)
      Use them wisely!

      #@^*&?!

      • http://no-apologies-round2.blogspot.com/ AmericanborninCanada

        Yes Tex, but I’ve worn them out on my keyboard from over use! ;-)

    • MiketheMarine

      You want me to type those bad words for you? It will be my pleasure.

      Then you can giggle when you read them and giggle again when you moderate them out. You wanna? I’m game.

      ;-)

      • MiketheMarine

        Bastages

        • http://no-apologies-round2.blogspot.com/ AmericanborninCanada

          ;-)

      • http://no-apologies-round2.blogspot.com/ AmericanborninCanada

        LOL! That’d be so much fun!

        • MiketheMarine

          Anything for my Duckie !!!

          • http://no-apologies-round2.blogspot.com/ AmericanborninCanada

            You’d better watch it myMarine…. ;-) I just might remember your words someday when you’re least expecting!

            lol. :-D

            • MiketheMarine

              Bring it, Darlin’. My backside is absolutely capable of backing up my mouth. But you know this already.

              ;-)

              • http://no-apologies-round2.blogspot.com/ AmericanborninCanada

                lol. That’s myMarine right there. :-D

  • http://navalwarfare.blogspot.com/ Libertyship46

    Elections DO have consequences. If you don’t believe me, just look at the list above. Pity a majority of Americans didn’t believe that last November.

  • colliemum

    Winston Churchill had this to say about taxes:

    “We contend that for a nation to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.”

    • MiketheMarine

      I can ACTUALLY visualize Maobama physically trying to do just that. Sad…..

      • colliemum

        Yeah, while blaming Bush that the bucket is stuck to the floor …

        • MiketheMarine

          LOL, that’s funny. Maybe we can get rid of Presidential tem limits and rehire George Bush. That man is so effective, he can do things from his own home while retired.

  • http://www.facebook.com/tracy.mitchell.9421450 Tracy Mitchell

    I notice that many people on the left are now complaining about all the new taxes they are paying out of their checks. Had they taken a minute to use their iPhones to read ALL of the news, instead of checking up on the MSM talking points, they would have seen that the mighty messiah-in-cheif told them exactly what he was going to do. He SAID that the rich need to pay their fair share. He neglected to mention that by “rich” he meant anyone that has a job and can pay all of their bills without the need of any of his handouts.
    I tell people on the left the same thing I tell my 9 & 10 year old- there are consequences for EVERY decision that you make. Push the wrong button and you can be in for a really rough ride. Consequences.

    • iaintlyin

      yeah, in this day and age of being ruled by a bunch of progressive college educated idealogues consequences is spelled T A X E S

      Its really the only thing wrong in America that the left is not trying to fix by outlawing it, taxes.

  • 12grace

    Let us learn from the forefathers of our nation.

  • freenca

    Too bad that our Dem friends never learned about the old rubric that if you want less of something, just put a tax upon it.

  • 57thunderbird

    I hope all those Obama voters are enjoying what they voted for.Unfortunately the rest of us have to suffer right along side them.

  • tinlizzieowner

    Some of us remember when the 4 ‘mop head’ boys from Liverpool became filthy rich capitalists and figured out what was going on. ;-)

    “Let me tell you how it will be. There’s one for you, nineteen for me.
    ‘Cause I’m the taxman, yeah, I’m the taxman
    Should five per cent appear too small. Be thankful I don’t take it all.
    ‘Cause I’m the taxman, yeah I’m the taxman
    If you drive a car, I’ll tax the street, If you try to sit, I’ll tax your seat.
    If you get too cold I’ll tax the heat, If you take a walk, I’ll tax your feet.
    Don’t ask me what I want it for. If you don’t want to pay some more.
    ‘Cause I’m the taxman, yeah, I’m the taxman”.

    • Nukeman60

      I love this, yeah, yeah, yeah. Excellent. :)

      • tinlizzieowner

        Listen to any of the ‘protest’ songs of the 60’s and 70’s. The libs are the ‘establishment’ now, you can turn all of these songs against them.
        “The times, they are a changin”, (choke on that one Bob Dylan). ;-) ;-)

  • Sober_Thinking

    Well now, more of the scrubs out there that scream they want people to pay their “fair share” are paying a little more of their fair share. Not nearly enough though. And taxing the rich more is unAmerican and wrong.

    Fair Tax

  • CalCoolidge

    Obama’s economy? Don’t forget to give Boehner and McConnell their share of the credit. The Dems certainly won’t if anything is perceived to have gone wrong.

  • Nukeman60

    List of people who are suddenly complaining about tax increases:

    1) General Obamabot: “But…but…I voted for him. He said I wouldn’t get a tax increase. Am I in the top 2%?”

    2) College kids, just out of school: “Hey, I’m just getting started here. I’m not supposed to be affected.”

    3) Minimum wage earner: “Huh? How’d I get involved here?”

    4) Hollywood idols: “No way man, I just got a subsidy. I can’t be part of this group. I work hard for my money.”

    5) Union rank and file: “My d@mn union dues just went up to pay for the last election and now my paycheck is smaller still? WTF?”

    6) Welfare recipient: “Me too? I don’t pay social security. Oh, wait, the price of my beer, cigs, and strip club fees just went up? Man, who woulda thunk?”

  • NCHokie02

    even with my 1.7% pay increase this year (a tip of the hat to Obama for keeping military pay raises the lowest they’ve ever been) I’m now making around $1,500 less per year. Oh thats not that much the libs say. Hey it’s only a couple of extra car payments, a crap load of groceries, gas, etc etc that I won’t be buying with it. It’s ok though. I’m cutting off contributions to the economy to make up for it. Cut my lawn treatment service and cut my phone to the bare minimums. Thus taking around $90 a month out of the economy. When I talked with the lawn service guy and he asked why I was cancelling I told him it was nothing he or his company had done but that I’m just trying to make up for lost wages to the government so I was trying to cut the things that I don’t really need. He said he had a lot of people calling cancelling for the same reason. Felt bad for the guy. I’m sure he’s loving this as well.

    • TimeForAnarchy

      You selfish person. Think of all those welfare folks who wouldn’t be able to go to the topless joints on their EBT cards without your “contribution.”

      • NCHokie02

        ha! wouldn’t want to keep anyone from the beer and cigarettes either. I guess I should be a better citizen and get back in line. I’m sorry.

        • TimeForAnarchy

          Well, there then. It’s about tie you two got in touch with your sensitive sides…….

          (sarc/ON)

      • http://www.facebook.com/OleEth Ethan C. Nobles

        Don’t forget about the welfare cats blowing their money on lottery tickets.

        Those folks can spend money like drunken sailors on shore leave.

        Wait, that’s not fair. Sailors spend their own money…

  • http://pulse.yahoo.com/_GDJGRV2MMCB6P2ZYTUZW6BHFVA Richard

    Many higher income married couples should get a divorce to save some money. These increases take more money out of the hands of private individuals and gives it to our communistic government for social engineering and bribes for votes. Welcome to the continuation of the WELFARE STATES of OBAMA! Any questions?