Friday was the second Friday in the month of January. That means that just about every American has now received their first paycheck of 2013, and just about every American has howled about how much money is missing from it. Anyone who didn’t listen to the Republicans during the election and who thought the tax increases would hit only the richest one percent is getting a rude awakening, as the payroll tax reverts back to its pre-2010 level.
And this is only the beginning: the heavy cost of Obamacare will be the next big bite. Many companies are already scaling back raises or staff, like the Wendy’s franchisees in Nebraska who cut 100 fulltime workers down to 28 hours a week because they can’t afford to buy them all health insurance. They’ll have to figure out how to buy it themselves, on just 28 hours of pay a week. And another tax took effect January 1st, maybe the most unpopular of all: the Obamacare 2.3 percent tax on medical devices. Why anyone would think it’s a good idea to make needed medical devices more expensive is a mystery. But even if you think it won’t touch you because you don’t have a pacemaker or other high-tech device, consider this: it also applies to your kids’ teeth. A set of braces costs up to $7600, and that tax just added $175 more. This is why Ronald Reagan used to say that the biggest lie of all time is “I’m from Washington, and I’m here to help you.”
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