For 32 days in a row, gas prices have risen across America. 32 consecutive days where the same exact gas cost more that day than it did the day before. That is a record! President Obama keeps getting closer to his goal of $5.00 a gallon gas. Can you afford it?
And yesterday Obama announced that he wants to raise taxes AGAIN! On January 1, Obama said he was only raising taxes on millionaires, and EVERYONE IN AMERICA’S PAYCHECK GOT SMALLER! Makes you wonder what economic pain for working Americans he has planned this time around?
And all the while, we continue hearing reports that Obamacare is running out of money before it even gets started? I know I have, and it’s brought smiles to a lot of people’s faces, ’cause they think that means Obamacare is dead. Well, I got some bad news for you, Save Jerseyans. Obama has a choice to either kill Obamacare because it has no money or raise taxes to get Obamacare money. What do you think he is gonna choose?
The tax deal that Congress and Mr. Obama reached in early January cut taxes overall but let them rise on individuals making more than $250,000 a year and families with income of more than $300,000. Those increases brought the government somewhere on the order of about $40 billion for fiscal year 2013.
The spending bill for storm recovery costs $50 billion and, coupled with an additional $9.7 billion in flood insurance money Congress passed this month, brings the total tab for Sandy to $60 billion.”
Many of you worked hard today, picked up your paycheck from human resources and noticed something disconcerting…
Why am I missed $30? $40? $50 of my usual total net pay?
The answer: November 6, 2012.
The technical explanation? Last week’s fiscal cliff deal did not include an extension of the federal payroll tax holiday, allowing the payroll tax rate to rise 4.2% to 6.2%. That means an employee earning $50,000 annually will now fork over approximately $1,000 more per year to Uncle Sam. Go ahead, liberals: try to tell me that WON’T carry negative repercussions for the economy next Christmas…
Bloomberg Businessweek ran an interesting piece Wednesday, arguing that Republicans should happily embrace Tuesday’s fiscal cliff deal since “[i]t locks in virtually all the Bush-era income tax cuts, establishes a generous-to-the-wealthy inheritance tax, and maintains low capital gains and dividend taxes,” in addition to generating much less revenue for Washington’s spending addiction than the President previously wanted.
Assuming, of course, that that’s what President Obama really wanted.
I’m not so sure, Save Jerseyans, nor is my favorite conservative pundit Charles Krauthammer, who told Bill O’Reilly last night on FOX that he recognizes a totally different (and completely political) method to the White House’s fiscal madness:
Here’s the key part of Krauthammer’s commentary if you can’t play the video…
The fiscal cliff bill is headed to President Obama after receiving late Tuesday evening approval from the House of Representatives. At roll call, 85 Republicans and 172 Democrats voted YEA; 151 Republicans and 16 Democrats voted NO.
Eric Cantor appeared to lead the opposition from the Right (which represented a majority of House Republicans); Paul Ryan was among those voting YEA, as was New Jersey’s Jon Runyan (NJ-03) who shared the following explanation with his Facebook fans:
Given the choices on the table, I ultimately decided to support the compromise to spare my constituents and 99% of American taxpayers an income tax hike that neither they nor our economy can afford. Unfortunately, this legislation is merely another Washington-generated band-aid that does little more than kick the can down the road again, while failing to address the federal government’s unhealthy addiction to spending. I am hopeful the President and members of both the House and Senate can do more problem-solving and less finger-pointing in the next Congress and address the very serious fiscal problems we face.”
Runyan was joined by Chris Smith, Rodney Frelinghuysen, Frank LoBiondo and Leonard Lance. Only Scott Garrett voted NO out of the entire state delegation.
What does tonight’s vote mean? Tax rates won’t go up (for now) on most medium and low income earners, but in real terms, 77% of U.S. households (115-120 million) will still pay more taxes for 2013 as a direct result. That’s a big price to pay for a bill that’s merely a detour to the fiscal cliff, Save Jerseyans. But you already knew that…
It’s an auspicious day to celebrate the Emancipation Proclamation’s 150th Anniversary, Save Jerseyans.
The late great Civil War historian Shelby Foote liked to argue that “the genius of American politics is compromise,” and that the Civil War came about through the nation’s failure to do what it had previously done best.
There’s also the question of whether the current generation of leadership has done anything to advance the American vision of liberty conceived by the Declaration of Independence, mapped-out by the Constitution and developed over two centuries through blood, innovation, but mostly well-chosen applications of ink and sentiment.
Revisit a transcript of this great document below the fold… and say a prayer for your country:
It’s a “deal” in the strictest sense of the word, Save Jerseyans, because there appears to be enough votes to get it through the House a little later today after the Senate adopted a fiscal cliff compromise package early New Year’s morning.
A Save Jersey reader sent us this cool “fiscal cliff” tax calculator; users can enter their filing status, allowances and income to guesstimate how much their federal income tax burden will increase beginning in 2013. Of course it’s not exact, folks, and only a tax expert could assess your true liability. Still scary!
Soclick here to give it a try… but first, you may want to keep some tissues handy. Again, it’s not pretty.