Wait a minute….I distinctly remember….President Obama making a special point….It was almost as profound as George H.W. Bush’s “read-my-lips-no-new-taxes” rant of years ago.
President Obama said there would be no new taxes on middle-class Americans. In fact he made a central theme of his re-election campaign…and yet…you might notice a slightly smaller paycheck as we enter the New Year. That’s because a two-year interruption on payroll taxes that pay social security is over. The tax has risen back up to 6.2 percent from 4.2 percent, costing someone making $50,000 (well within the definition of middle class), about $1,000 a year.
So middle class Americans will be doing what Congress and the President are obviously incapable of doing—-and that’s cutting spending.
Don’t sneeze at an extra grand. It requires families to cut back on the extras….It is a reminder that political-speak doesn’t ever require honesty.
And on Monday the President said he was unwilling to consider spending cuts in exchange for a hike in the country’s debt limit.
The difference between the government and the middle class is simple—-
The government just elevates its debt—–the middle class has to cut.
That’s Land’s View. I’d like to hear yours. I’m Dave Land.