Actually it is worse than that. But first to the story (or non-story for the MSM). All hail savior Obama! Restorer of the Middle Class tax cut!
The problem is he restored nothing. He did not raise that tax. But he did raise another - that of course the media is ignoring. The Payroll tax.
The payroll tax cut was 2%, until Obama raised the tax. But it really is a lot more.
When they cut income taxes X%, you do not see an increase in your paycheck of X%, but of X-Y% (the Y being the fact that there are deductions built into the tax code). But the Payroll tax (SS or FICA for you noobs) is a solid 2%. Plus It is 2% on your GROSS income. Has anyone EVER seen your "gross" income? I never have. I think my grandparents did at some time in their youth (and I am now a grandparent myself).
So the Payroll tax increase that Barry just shoved onto the middle class is not 2%, but much higher. For some, it will be a paltry 2.5%. For most, it will be a 3%. And for some, it will be 4% or higher.
Coupled with his butchery of the MSAs, Barry just jacked up my taxes by 5% (or put another way, he reduced my disposable income by 5%).
And the worst of the Obama taxes are just starting. The middle class just got royally screwed. By the man that the media said was our savior. Yea, he is saving us into oblivion.
Or as others say, with friends like him, who needs enemies?