While Barack Obama was running for reelection he stated over and over again that it was time for the wealthy to pay their fair share. He claimed that he would fight to keep taxes from going up on the middle class while promising he would make the millionaires and billionaires contribute more. He claimed that he would not let the Republicans hold the middle class hostage in the fiscal cliff negotiations.
On January 2nd the Congress finally passed fiscal cliff legislation and despite claims made by the Congress and the president this bill does not stop taxes from going up on 98% of Americans–in fact, taxes are actually going up on 77% of Americans. (Yes, that does include the middle class.)
Promise number one broken, but how about raising taxes on the rich? Well, for the most part if you are rich your taxes are going up as well…..as long as…
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