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Our president continues to promise that he will not raise taxes on the middle class.
The act's "explosive" provisions takes place in 2013 with a 3.8 percent tax increase on capital gains, dividends, interest income, rent, and royalties; Medicare withholding increase from 2.9 percent to 3.8 percent; and the increase in the medical deductions threshold from 7.5 percent to 10 percent, including the amount paid as health insurance premium.
Each of these changes will increase the government's take from the middle class even though some may not be referred to as a tax increase.
As that exuberant Rep. Nancy "Pill"-osi said, and I paraphrase, "You need to vote for this bill before you read it." How prophetic. Where are you, Bart Stupek, our modern-day Judas Iscariot?