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View Diary: The "Fiscal Cliff" and the Coming Retirement Crisis of the Middle Class (90 comments)

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  •  Regarding this statement (2+ / 0-)
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    NoMoreLies, Sparhawk
    2) With the expiration of the temporary 2% payroll tax cut, 77% of households will see their taxes go up. Indeed, every single income group will, on average, see their taxes increase
    This is the chart you are referring to.

    The very tiny taxes affecting almost all income groups are based on not continuing the Payroll Tax HOLIDAY -- where SS contributions were suspended temporarily during the most dangerous period of our recent recession.

    It is absolutely unrelated to the Bush Tax Cuts, which only affect the highest earners, on this chart.

    The original data comes not from Matt Yglesias, but from the Atlantic, which puts forth an agenda-free analysis.

    Denial is a drug.

    by Pluto on Thu Jan 03, 2013 at 02:03:22 PM PST

    •  I'm not sure where we disagree (0+ / 0-)

      I said the payroll tax cut (you say HOLIDAY, but I'm not sure what the difference is supposed to be) is "temporary" in the very quote from my post you highlight.

      I did not say the data was "from" Yglesias, but "via" Yglesias, which acknowledges that I saw the chart there first. You should note that the chart does not come from the Atlantic; the article you link cites the Tax Policy Center...just like my chart does.

      Finally, the temporary payroll tax cut/holiday obviously post-dates Bush, but its expiration is part of the "fiscal cliff."

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