LHB Wrote:
Jan 10, 2013 6:54 AM
On the one hand, Republicans refused to support the payroll tax holiday in the first place. On the other hand, Democrats fully supported bringing it to an end, resulting in a 2% in increase in my marginal tax rate from the first to last dollar of all my earned income. To say that I am angry is putting it mildly. I doubt if middle income people who work for a living would have gotten a better deal from Romney, but that doesn't alter the fact that Obama, and especially Tim Geithner, fully supported raising payroll taxes back to their level two years ago. Notice that this does NOT affect incomes between $114k and $450k, which seems to be the sweet spot in terms of low marginal tax rates. Unfortunately my income is not that high.