What will your Tax Cut be if President Obama has his way with Congress?

Here I will make it simple. If President Obama signs nothing at all, your taxes will go up. There are at least three tax increases guaranteed unless President Obama signs something. The first is the Social Security tax. That's due to end very shortly. That affects all taxpayers. The second is the costs associated with Obamacare. That comes into effect in 2013. The third is the end of the Bush tax breaks which raises the tax rates on all taxpayers. A few other changes with absolutely nothing being done is the doctor fix which cuts the amount that Congress pays Medicare doctors (another incentive not to take on elderly patients), the increase in the inheritance tax, the decrease of what can be claimed with children and a few other things. So, nope the super rich aren't the only ones who want to keep their lower tax rates. But what never really gets discussed is what President Obama is actually willing to cut and by cut I mean a drastic reduction in spending that doesn't equate to last year's spending totals. I mean a real honest to goodness cut similar to the act of cutting cable bill in a few households.

President Obama is telling us that not taking more money from us is a tax cut. Not increasing spending is a spending cut. President Obama want middle class tax cuts but what he is proposing is not to increase one tax for some people. Speaker Boehner has proposed several ways to increase revenue and has suggested ways to cut spending. One of the ways is to increase the retirement age for Social Security and Medicare. This makes sense because the age 65 was selected because at the time the life expectancy was 65, now life expectancy is much older so increasing the age would be in line with the original intent of the law. We have to control spending or we will be in trouble.

Social Security, what a scam. Technically raising the age would save a fortune, but it would cause a host of new problems. It's already a problem that people are having to work till 65. The longer people stay at a job the more new jobs we need to have jobs for the young adults entering the workforce, or as we've seen in the past several years, failing to do so. Add to that, the human body is really only good for so long, 65 year old workers might be really reliable, but they also suffer from more ailments, which is fine in some jobs, but not when machinery or heavy items are involved. But using social security as a tax, is pretty solid tax on everyone anyways. I find it interesting that they call a tax cut, simply not increasing taxes. I think that intentional misuse of a word is actually called a lie. But I guess that's why politicians have such a good reputation.