Krugman: Obama and the One Percent

[hfojvt]

77. stick it to teachers?

Oh good grief.

Here's the thing. If tax cuts expire for people making over $100,000 a year, then yes, people who make $101,000 a year or even $100,001 will pay morre in taxes.

With a 3% tax increase (the average impact of the Bush tax cuts), the first couple will pay an extra $30 and the second couple will pay an extra 3 cents.

Oh, those poor teachers. I really stuck it to them, didn't I? Unlike Obama.

In 2010, he allowed the Making Work Pay credit to expire and replaced it with the Accursed Payroll Tax cut. In 2010, my wage income was $13,130.28. So the payroll tax cut for somebody like me was $262.60 minus the $400 MWP credit that went away. And my taxes went up by $137.40. Meanwhile that $100,000 couple got a payroll tax cut of $2,000.

Tax increases for the working poor. Check
Tax cuts for people with much higher incomes. Check
A Democratic President who increases inequality. Outrageous.

p.s. And what do people who make snide remarks about "Obama haters" declare themselves to be? DINOs? PINOs? Who drew "first blood" when it came to snide remarks? "Class warfare" happens to be a standard Republican talking point against progressive policies, and you decided it was appropriate to use against me.