Obama supporters shocked, angry

Short memory Fred, there was nothing draconian about the tax rates when Clinton was president....I understand that the GOP got their itty bitty feelings hurt that try as they might to spend all the money Clinton's taxes brought in, he still managed a surplus and passed that along to Bush.....who promptly came up with the bright idea of squandering as much money as he could, as fast as he could. Then BINGO.....9/11 happens, the economy tanks, and we need the money. But Bush, in his infinite wisdom, starts a couple wars......passes Part D, none of which were paid for. But go on.....lay it all on Obama.

I am not blaming even most of it on Obama. He has pretty much been the Pontius Pilate of Presidents. It is our own fault. We elect the people that promise us the most in spending and the least in taxes. Plus people and corporations fight very hard for individual pork and tax loopholes while the people paying for it (our kids) aren't even old enough to vote.

Either the politicians need to stop making promises, or we need to stop holding them to a standard no one can live up to. Find me someone who hasn't had to break a promise when circumstances change and you must be talking about someone under age 2. None of us know what will happen over a 4 year term, heck, we don't know what will happen tomorrow. I wouldn't want a president or congress critter who was so inflexible that they would hold to a promise made or an ideological statement when circumstances have changed such that the promise would be bad for the country if held to. Leadership is knowing when to make the tough decisions even if the decision places your re-election in jeopardy, or makes you look bad. The country and it's citizens should come first.

The Clinton surplus? It happened because the economy was going gangbusters and we were seeing bubbles in both the Dotcoms and housing. When those bubbles burst even with higher tax rates less actual receipts come in. One possible solution is the Japanese model spend like crazy and increase taxes a little. It hasn't worked for Japan and they now have more debt per capital then the US. But Obama still would like to pursue that plan and has asked for more stimulus spending. Hope it works because Bernanke's low interest rate scheme isn't working either.

Here is a simple solution, just change your W4 withholding to make your take home ~2% higher.. Most people withhold too much and get a refund anyway.

There ya go! You will get a smaller refund though.

LOL wrote: I'm surprised they let the 2% payroll tax cut expire, I was wrong thinking it would never expire.

I'm not surprised Obama supporters are whining about it.

Stay tuned though, lots more angry whining in your future. See Greece.

Actually rather happy that there will be so much more angry whining. It is about time that people pay attention to what is happening. Until it hits them in the pocketbook, it has been ignored. Now maybe there will be some changes with our Pres and Congress.

"How many Americans? The nonpartisan Tax Policy Center in Washington put the total at 77.1 percent of all wage earners. In fact, “More than 80 percent of households with incomes between $50,000 and $200,000 would pay higher taxes. Among the households facing higher taxes, the average increase would be $1,635, the policy center said,” according to a Bloomberg News article. Hilariously, the tax burden will rise more for someone making $30,000 a year (1.7 percent) than it does for someone earning $500,000 annually (1.3 percent)."

Call it what you want, tax hike...end of a holiday...whatever you call it, average working Americans are seeing less in their paycheck this week. It's less money they have to buy clothes, food, fuel or pay bills. When you are living close to the bone, every penny counts.

Getting less money in your paycheck during a recession seems like a bad idea. Especially when that money is funding a program that will likely be flat broke or non existent by the time those currently contributing are actually old enough to collect. Go figure