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? asked in Politics & GovernmentGovernment · 8 years ago

Have taxes been raised for everybody, or just rich people?

ok so, it is my understanding that taxes have been raised for people making more than $200,000 a year.

yet, i see people complaining that their paycheck has been reduced.... is there proof of this? we can't just take things for HearSay. Where can i find an online legal document prooving or disproving these claims? A bill of some sort...?

also, i don't want a picture of someone's receipt, or check....this is the internet......

9 Answers

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  • 8 years ago

    Several things happened as a result of the "fiscal cliff" tax deal.

    One is that the marginal tax rate was increased for income over $450,000 from 35% to 39.6%. This was the headline "tax increase" that was so hotly debated. Most other "Bush-era" tax cuts were made permanent

    But there were a host of other taxes that went up as well. Most notably, the deal let the "payroll tax holiday" on Social security and medicare taxes (FICA) expire. This change affected everyone and resulted in people's tax witholdings on their paychecks going up. This is perhaps what people you talk to are complaining about. One could argue that the payroll tax holiday was a temporary measure meant to stimulate the economy and was never supposed to be permanent, but still, an increase is an increase, even if it is just going back to the previous rate...

  • 8 years ago

    I assume you are talking about the fiscal cliff deal on taxes. The Bush income tax cuts expired but were immediately renewed and made permanent for people making less than $400,000 (or couples making more than $450,000 a year). Also the capital gains tax went up for very, very large accounts. Neither of these tax increases should effect 98% of Americans.

    What does effect all Americans is that the 2010 payroll tax holiday that was part of Obama's stimulus plan expired meaning that everyone's social security tax on their paycheck went back to pre-2010 levels.

    Source(s): CNN
  • 8 years ago

    I work in public schools, so I'm no where near rich. My take home pay has been cut by $100 per month and I will loose more money once the SSI rate increases the 2% they are about to increase it next month. My taxes are expected to increase by approximately $2600.

    There is no bill that will tell you this, but every economic advisor that I've seen talk about the new budget, which was basically just tax increases, has said that everyone will see higher taxes in one form or another this year. The current bill was for those making over $400,000, but it's hitting me too. those making less than 40000 will probably still see some refund-though maybe not as much.

    Source(s): my personal experience @ smarter than you: So everyone's taxes have gone up. Which is what the question was. that's not a limbaugh/tea party misinformation. You evidently don't like them, yet you make their point for them.
  • 8 years ago

    Everybody and just wait when the Obamacare tax kicks in......

    Actually the middle class was hurt more than the higher income people because they can afford it. Their taxes increased also though.

    Obama lied about not increasing taxes on the middle class.

    Then the fiscal cliff deal still had a bunch of pork in it as did the Sandy relief Bill.....

    Even Pelosi's husband got a break, he own's Starkist Tuna and they can pay slave wages, nope no minimum wage paid by them.

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  • 8 years ago

    Your understanding is wrong (stop listening to Rush Limbaugh and his tea drinkers). Taxes were raised by about 3% on individuals making over $400,000 a year and couples earning over $450,000 a year. Payroll taxes increased on any one making UNDER $110,000 by 2%.

  • 8 years ago

    Please note the difference between "Federal income tax" and federal withholding tax.

    For retired people who earn less than $400,000.00 a year, NO tax increase.For those of us living on our stock and bond investments and making less than $200,000.00 NO tax increase.

    For those making more than $400,000 off their stock and bond imnvestments, YES tax increase.

    If you get a paycheck and earn less than 400,000, 3% FICA is taken out nagain, not a tax Increase just the expiration of the moratorium.

  • St N
    Lv 7
    8 years ago

    Does Internal Revenue Services have a website? They will have the forms you need but they may also have a chart showing the impact of the changes that went through. I remember seeing such a thing on CNN on "Cliff Day" and it may still be accessible on their website but you could also try the Feds.

  • Anonymous
    8 years ago

    My total paycheck decreased by $40.

  • 8 years ago

    everybody's FICA withholding went back to normal levels

    most people are paying more for insurance premiums

    taxes are still being decided

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