Raise your hand if you thought tax increases were hitting only some of the wealthiest people in the nation in 2013.
If you received a paycheck Friday, you might already know that isn’t true. The government has pulled another fast one by eliminating a tax break that saw Social Security payroll taxes increase 2.2 percent for nearly all workers. People making $60,000 will see about a $100 a month pay cut.
This must be part of the tax relief plan for the middle class that was touted by President Barack Obama.
“I can make a firm pledge,” Obama said. “Under my plan, no family making less than $250,000 a year will see any form of tax increase – not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.”
Talk show host Alex Jones has long warned that the government is going to increase taxes across the board and create new taxes until the nation and its people are destitute.
“Obama said he is not raising taxes, and he is raising everything he said he wouldn’t raise,” Jones said during Sunday’s broadcast.
It’s not any sort of attempt to fix the budget gap of more than $16 trillion. That is impossible to pay off, anyway. No, this is all about domesticating the public, as well as deepening the economic depression the nation is already facing.
The payroll tax increase will also strike some of the the poorest working Americans. And while a few dollars a month might not seem like much to most people, it could mean the difference between whether a poor person eats or not.
The end result is more people being bulldozed into welfare programs and more tax hikes to pay for it.
“They want to bankrupt your butt and get you on welfare,” Jones said, pointing out that there are already more than 50 million people on some sort of government welfare, a figure likely to double in 2013. “The name of game is takeover; they don't want you uppity by having any money.”
Wealthy people have a right to complain because they are going to be expected to fund everything, even as their taxes increase, too.
Remember that Obamacare - the "free" health care plan - is also coming down the pike.
"The health care law imposes a new 3.8 percent Medicare tax on passive income, including dividends and capital gains," Merrill Matthews wrote in an opinion piece for the Dallas Morning News. "So the effective dividend tax rate for those at the upper end of the income scale will nearly triple, to 43.4 percent."
It is also ironic that the payroll tax is supposedly earmarked for Social Security, a fund declared bankrupt by the government in 2011. Back in July 2011, Forbes Magazine asked the question, “What Happened to the $2.6 Trillion Social Security Trust Fund?
This happened after the government threatened to cut off Social Security checks for senior citizens because the budget had hit a “debt ceiling” in 2011.
“Social Security status-quo defenders have assured us for the past 25 years that Social Security is fully funded—for the next 25 years, or 2036,” Matthews wrote, this time in Forbes. “So if there are real assets in the Social Security Trust Fund—$2.6 trillion allegedly—then how could failure to reach a debt-ceiling agreement possibly threaten seniors’ Social Security checks? The answer is that the federal government has borrowed all of that trust fund money and spent it.”
"Borrowed" is a kind word because it implies the money will be paid back.
We all need to brace ourselves, because it won’t stop here.