The Obama Administration is sharing the thoughts of middle-class Americans in its push to avoid tax increases next year that are put of the package of closing tax breaks and new spending cuts known as the “fiscal cliff.”
The White House said 114 million middle-income Americans will be affected if Congress fails to act. A typical family of four would end up spending an additional $2,200 in 2013.
The administration refers to those who will be hardest hit as the “the 98% of Americans who make less than $250,000 a year.”
“The other path is for Congress to pass a law right away to prevent a tax hike on the first $250,000 of anyone’s income,” Obama said in his weekly radio and Internet address. “That means all Americans – including the wealthiest Americans – get a tax cut. And 98 percent of Americans, and 97 percent of all small business owners, won’t see their income taxes go up a single dime.
The White House website features a video of testimonials from middle-income Americans. Here’s a few of the comments (see the full video below:
Tiffany: “If you take away $2,200 from my paycheck, it will severely impact my family.”
Ron: “We’re not as bad off as lots of people, but we still live on a margin. And $2,000 for us is huge.”
Mayra: “Most people I know cannot possibly pay $2,000 more in taxes.”