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Obama Saved The Average Family $3600 in Taxes

AdamT said:
I really can't take credit for it. Please give credit where due and call it the Bobcat Stealing From Millionaires Act.
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Still waiting for your apology.....ZZZZZZZZZZZZZZZZ
 
Dittohead not! said:
Cutting payroll taxes is probably the only tax cut that doesn't disproportionally benefit the wealthy.
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A 3% cut in the payroll tax on someone making 107k is $3000. But is only $600 on someone making 20k. Why do the rich get such a huge tax cut?
 
Heres another thought. Obama spearheaded a cut in the payroll tax. But didnt cut benefits, so we'll have to tax other people more later to pay for the payroll tax cut now. Which means Obama didnt save anyone money, just shifted it around.
 
jonny5 said:
But he added 4 trillion in debt, which has to be paid back with taxes. Thats $13000 in addition taxes for every single american. $57,000 if you only count people who pay income tax. So the average household of four people now has to pay an extra $50,000 in taxes throughout their life just to pay for 4 years of Barack Obama. And hes proposed adding another 10 trillion over the next 10 years, so add another $100,000. But hey, it could be worse by $3600.
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What if you only count top income earners?
 
Dittohead not! said:
Payroll taxes go into the general fund. They have since LBJ and his "great society" spending coinciding with the war in Vietnam busted the budget back in the '60s. The should go to funding SS and Medicare, but they don't.
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Only part of payroll taxes go to the general fund, the OAISD and HI parts. The social security part goes into SS account and is immediately spend on current retirees, with any extra loaned to the general fund.
 
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