“Why Is My Paycheck Less This Week?”

obama swimming

 “Ask me when I get back from my vacay!”

 No, I don’t mean MY paycheck. We all know what’s up with that.

People across America are waking up to the fact that, as was reported today, the Obama “Fiscal Cliff” deal he shoved down Congress’s throat has actually had more impact on workers earning $30,000 than those earning $500,000 a year.

Middle-class workers will take a bigger hit to their income proportionately than those earning between $200,000 and $500,000 under the new fiscal cliff deal, according to the nonpartisan Tax Policy Center. 

Earners in the latter group will pay an average 1.3 percent more – or an additional $2,711 – in taxes this year, while workers making between $30,000 and $200,000 will see their paychecks shrink by as much as 1.7 percent – or up to $1,784 – the D.C.-based think tank reported. 

Overall, nearly 80 percent of households will pay more money to the federal government as a result of the fiscal cliff deal.

And for what? To cut the deficit and spare our kids a massive debt burden in the future? Uh…no. It’s to spend more money on more Obama programs while carving out loopholes for his big-business pals like GE and Goldman Sachs.

All across America, people are looking at their paychecks and going “Hey–where’s MY$2K? I thought Obama was giving me more of somebody else’s money. What the bleep?”

If you’re on Twitter, be sure to follow the #WhyIsMyPaycheckLessThisWeek conversation.  If you’re an Obot, you’ll find it enlightening. If you can do math, you’ll find it hilarious!

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Michael Graham
Radio talk show host, columnist for the Boston Herald, stand-up comic and former GOP political consultant. Learn more about Michael here.

Natural Truth of the Day

For several months now, whenever the topic of enrollment in the Affordable Care Act came up, I've been saying that it was too soon to tell its ultimate effects. We don't know how many people have paid for their new insurance policies, or how many of those who bought policies were previously uninsured. For that, I said, we will have to wait for Census Bureau data, which offer the best assessment of the insurance status of the whole population... I stand corrected: These data won't be available at all. Ever.-- Megan McArdle, Bloomberg View.