Sunday, December 12, 2010
Proposal for tax cuts in the public sector
When elected, Obama spoke of letting tax cuts for the wealthy expire while increasing tax cuts for those in the middle and lower class. However, in his new proposal taxes will increase for those working in the public sector. Instead of paying social security, many workers in the public sector pay into a public pension and this plan will change this. At the same time it keep a $900 million dollar tax cut package to those in the top 1 %. Therefore, taxes will increase for mainly middle class workers, but not for the most wealthy.
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2 comments:
I do not believe that Obama wants to increase taxes for middle in lower class. I think that originally he wanted to end the tax cuts for the highest paid citizens, but has since given up on that since the Republicans won't sign the bill and the cuts expire soon.
http://www.nytimes.com/2010/11/30/us/politics/30freeze.html?scp=1&sq=freeze%20on%20pay%20for%20federal%20workers&st=Search
look at this article, its from a little while ago but is more of a shocking issue for federal employees - a pay freeze for two years!
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