You state on Wednesday’s front page that the bill passed to avert the fiscal cliff will “lower taxes on virtually all Americans.” This is not entirely true, because the bill would allow payroll taxes to rise.
According to an analysis released Jan. 1 by the nonpartisan Tax Policy Center in Washington, the bill would result in a tax increase on 77.1 percent of US households. While President Obama insists that the bill protects the middle class from tax increases, and while he celebrates a higher marginal tax rate on top earners, the reality for many working Americans will be lower after-tax income in 2013.
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There's NOTHING to celebrste. Hidden within the bill, and the Globe doesn't report it of course, is all sorts of deductions that will be eliminated. And Obama is immediately calling for higher taxes. On YOU. Obama now will threaten House Republicans with large defense department cuts via the Sequester if the GOP doesn't agree to higher taxes. Dems all want Cap and Trade and a national sales tax in the form of a VAT. Just like Europe. If you thought that he only intended to tax the Rich, you are sadly mistaken. ..And in MA NOW the Globe and Deval tell us that MA needs higher taxes. After the elections. And again, they are not on just the Rich. They're all on YOU.