The Fiscal Cliff Is a Lie

[BainsBane]

16. It is not simply tax cuts on the rich that expire

But cuts on everyone, amounting to a 17% increase for those at the bottom of the tax scale. The payroll tax expires, and a number of other provisions. Since I am in the 25% bracket, my income tax will increase to 28% and like everyone else my payroll taxes will go up 2%. But those who will fare the worst are poor Americans who dropped off the tax rolls after the Bush cuts. These are waitresses and Walmart workers, people barely getting by, who will have 17% of their paychecks disappear if no deal is reached. It bothers me that many here see this cliff or whatever you want to call it as about political brinkmanship. Why is that people here refuse to consider the impact of what they advocate on the nation's poorest Americans who already have trouble securing basic food and shelter?