Comments on: Fiscal Cliff Protects ‘the 99 Percent’ From Income-Tax Hikes? Hardly http://www.bizzyblog.com/2013/01/05/fiscal-cliff-protects-the-99-percent-from-income-tax-hikes-hardly/ The Business End of the Blogosphere Sun, 19 May 2013 00:24:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Tom http://www.bizzyblog.com/2013/01/05/fiscal-cliff-protects-the-99-percent-from-income-tax-hikes-hardly/comment-page-1/#comment-171830 Tom Mon, 07 Jan 2013 12:47:24 +0000 http://www.bizzyblog.com/?p=64203#comment-171830 #1, sorry it took so long to get to your comment. You could not be more correct, esp given how much hype Obama et al put into their $40 a paycheck lie about the FICA tax when it was about to expire earlier. #1, sorry it took so long to get to your comment.

You could not be more correct, esp given how much hype Obama et al put into their $40 a paycheck lie about the FICA tax when it was about to expire earlier.

]]> By: Scott Landmann http://www.bizzyblog.com/2013/01/05/fiscal-cliff-protects-the-99-percent-from-income-tax-hikes-hardly/comment-page-1/#comment-171814 Scott Landmann Sat, 05 Jan 2013 17:34:08 +0000 http://www.bizzyblog.com/?p=64203#comment-171814 The exemption and deduction phaseout hits NY CA and a few other high income tax states the worst. Good, they voted for it. I was actually voting for the cliff because it would hit low income with some tax. Sure it would have cost me but it wouldhave lowered my mmarginal rate since I am currently in the income range where the child tax credit phases out. Btw it is not tied to inflation and result in a bump of 5% to your tax rate. The exemption and deduction phaseout hits NY CA and a few other high income tax states the worst. Good, they voted for it. I was actually voting for the cliff because it would hit low income with some tax. Sure it would have cost me but it wouldhave lowered my mmarginal rate since I am currently in the income range where the child tax credit phases out. Btw it is not tied to inflation and result in a bump of 5% to your tax rate.

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