EconChic has been predicting that the economy will get worse for quite some time now. Unless she puts a time frame on it....the predictions are meaningless. Eventually, it will get worse. It doesn't take an economist to make that prediction.
What is the median household income at the present time in America?
The current median income...which is supposedly at it's absolute best that Obama can do.........is far below Bush's best, which was $4000 better than Obama's best.
There is a $4000 difference in median income between what Bush could achieve and what Obama could achieve.
Get it?
Got it?
Good.
You never did explain how presidents move the median income up and down. Explain where you think they get the power to do so.
Okay. Prove that families under $250,000 are now paying more in net taxes than they did in 2008.
And don't forget to factor in the tax cuts that Obama signed since he's been president.
I will start here.
-Geaux
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WASHINGTON (AP) — Most Americans will pay higher federal taxes in 2013, even though the tax package Congress passed New Year's Day will protect 99% of Americans from an income tax increase.
About 77% of American households will face higher federal taxes in 2013 under the agreement negotiated between President Obama and Senate Republicans, estimates the Tax Policy Center, a nonpartisan Washington research group.
That's because even though just 1% of households will pay higher income taxes, an increase in federal payroll taxes will hit nearly every wage earner, the Tax Policy Center says.
Households earning between $40,000 and $50,000 a year face an average tax increase of $579 in 2013, according to the Tax Policy Center's analysis. Households
making between $50,000 and $75,000 a year face an average tax hike of $822.
Deal means taxes will rise for most Americans