I read letters to this section to obtain different perspectives on the current and past welfare of our country. Some with reliable facts and some without. The following are reliable facts that took effect on Jan. 1, through the Affordable Health Act, aka Obamacare, all of which saw the American families disposable income further reduced.
Medicare Tax went from 1.45 percent to 2.35 percent; top income tax went from 35 percent to 39.6 percent; top income payroll tax went from 37.4 percent to 52.2 percent; your retirement savings took a hit when capital gains tax increased from 15 percent to 28 percent and the dividend tax went from 15 percent to 39.6 percent. Then the estate tax was increased from zero percent to 55 percent, and last, if you go to sell your house, a 3.5 percent real estate transaction tax was added. And these new taxes don’t even take into consideration the increases to your medical insurance premiums and reductions in coverage.
At a time when the American family has not seen an increase in their standard of living during Obama’s time in office, the American family will be feeling a further reduction in their standard of living. These taxes were all passed solely with Democrat votes. Not a single Republican voted for these new taxes. What’s even scarier is that these figures could increase even more dramatically if Hillary or Bernie were to get elected.
Larry Price, Belleville