the irony here is that while my grandfather was dying, in the days before it was so inevitable, we had all gathered around.. while taking smoke breaks I had to listen to my crazy 'sarah palin' aunt's new husband rail on the tax hike Obama will force onto the middle, while letting the wealthy escape again..
I called him nuts.. I said Obama won on a campaign all about taxing the 2%, not the middle.. he won loud and clear.. the GOP will have to cave..
I guess I was the one who was nuts..
fucker..
The payroll tax cut that boosted paychecks for millions of working Americans over the past two years may be on the brink of extinction.
As Republicans and Democrats search for a plan to avert a fiscal cliff, it's looking more likely that the payroll tax holiday introduced under President Obama in 2010 won't be extended. Should this benefit expire, 125 million households would see their paychecks shrink, the Tax Policy Center estimates.
That's a far bigger slice of the population than the group of Americans who would be affected by proposed income tax hikes. If taxes are raised on incomes exceeding $250,000, roughly 2.8 million households would be impacted. Meanwhile, a mere 368,000 Americans would feel a tax hit if rates rise on incomes above $1 million.
Letting the payroll tax break expire shouldn't come as a big surprise: Obama introduced the payroll tax cut as a temporary measure to stimulate the economy. But nothing is set in stone, and a revival of the tax break -- or some form of it -- isn't out of the question.
the rest ..
http://money.cnn.com/2012/12/19/pf/taxes/payroll-tax-cut/index.html?hpt=hp_t3