The Internet Times Supplement

“Fiscal Cliff” – Stuff and nonsense

In Business & Finance, Politics on January 11, 2013 at 8:00 am

With people now receiving their first ‘we saved you all from the precipice’ pay slips of the New Year there are many scenes of “WTF?” and “Jeez!” etc. From general reading of commentary across the interwebnettubes there are many people now wondering at how they were so misled. With most people (apparently) seeing a significant jump in their taxes, many are asking about what savings the government are planning on making in order to bring debt into some level of order. One area where there is definitely ‘room for improvement’ is in defense. Most of the rhetoric behind not including cuts in defense spending have been with flag waving ‘rah! rah!’ cries of ‘we must support our troops’ and much chastisement over the ‘high cost of Social Security’ (which has ZERO connection to the national debt as it is a separate fund) as well as the egregious expenditure on Medicare and Medicaid. Check out the graph above and others here and here to determine if this is actually happening. Note also some of the comments…

Most important of all, do some fact checking. What better place than here. The term used in that link is ‘fudging’. Some might say they were significantly lied to.

You can check your expected tax INCREASE… here.

Obama, Jan. 2: You know my top priority has been preventing a tax hike that could have hit 98 percent of all Americans in 2013. Because the last thing middle-class families can afford right now would be to pay upwards of $2,000 more in taxes this year.

Errr…. This is EXACTLY what people ARE finding they now have to pay out.


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