What the Obama Middle-Class Tax Cut Means for You 2DEZ11

Here is a handy calculator to show you just how much failure to extend the working and middle class tax cuts will cost you and your family.....

In case you missed it -- yesterday Congress voted on a bill that gave them two simple choices: A) Let President Obama's payroll tax cut expire, raising a typical family's taxes by more than $1,000 next year, or B) Extend and expand the tax cut, helping 160 million people and letting that same family keep $1,500. Click here to find out what it does for you. The payroll tax cut would be paid for by requiring millionaires and billionaires to pay a little more. But some in Congress think millionaires and billionaires should get to keep paying the already-low rate they get, thanks to the Bush tax cuts. This one isn't complicated. And for a party whose leaders and candidates have pledged not to support any tax hike ever, taking money out of the pockets of middle-class families should have been unacceptable. But almost every Republican in the Senate went with option A -- blocking President Obama's proposal, and refusing to make the wealthiest among us contribute their fair share to help struggling families and strengthen the economy. So it's clear that when they say no tax hikes, they really mean millionaires and billionaires shouldn't pay more, ever -- even if that means your taxes go up. We're not letting this one go until Congress reverses course and does the right thing. And one way to spread the word is to make sure you know exactly how the Obama tax cuts affect you and your family. We've created a new Obama tax cut calculator -- use it to find out how much money Republicans in Congress want to take from you, then share it with everyone you know so they can find out, too. In these last few weeks alone, we've seen Congress fail to act over and over again. First by refusing to keep teachers, firefighters, and cops on the job and to hire more of them, and now by refusing to protect a middle-class tax cut that makes a real difference for millions of American families. And the Republican presidential candidates are in lock step with the GOP leaders in Congress on this. Just last week, Mitt Romney said he's "not looking to put money in people's pockets" and backed his Congressional counterparts. Try the calculator to see what's at stake for your paycheck, and please share it with anyone you think needs to see it: http://my.barackobama.com/Tax-Calculator Thanks, James James Kvaal Policy Director Obama for America

NAM Opposes Bill That Cuts Taxes For Middle Class 2DEZ10

HERE'S A BIG SURPRISE....the national association of manufacturers opposes tax cuts for the middle class, sent a letter to every member of the House calling for the bush era tax cuts to be extended across the board and decrying the tax rate on America's corporations and the wealthy. The letter is below, go to the Red Meat & Republicorp page on this blog for the full article.


Dear Representatives:
The National Association of Manufacturers (NAM), the largest manufacturing association in the United States, urges you to oppose H.R. 4853, the Middle Class Tax Relief Act of 2010.
Tax relief enacted in 2001 and 2003, which repealed the estate tax and lowered both individual tax rates and tax rates on investment income, helped spur economic growth. Now, however, absent immediate congressional action, these lower rates will expire, resulting in a top income tax rate of nearly 40 percent, a 164 percent increase in the dividend tax and the return of a 55 percent estate tax on family-held companies.
Manufacturers strongly support extending the 2001 and 2003 tax relief for all taxpayers. Over 70 percent of American manufacturers file as S-corporations or some other pass-thru entity and will be significantly impacted by these higher rates. According to the non-partisan Congressional Budget Office, fully extending the 2001 and 2003 tax cuts would add between 600,000 and 1.4 million jobs in 2011 and between 900,000 and 2.7 million jobs in 2012.
We urge Congress to reject this legislation and move toward extending all of the current tax rates.
The NAM's Key Vote Advisory Committee has indicated that votes on H.R. 4853, including potential procedural motions, merit consideration for designation as Key Manufacturing Votes in the 111th Congress.