Obama Soaks the Rich, Drowns the Middle Class

Obama Soaks the Rich, Drowns the Middle Class

October 28, 2014, The Wall Street Journal

Senator Jon Kyl authored this article on the effect that tax hikes have on the middle class:

Most workers’ pay has not kept up with inflation for at least six years. Even as hiring picked up over the past year, wages and salaries have inched up by 2%, barely ahead of inflation. This probably explains why half of Americans say the recession never ended. They are experiencing what Federal Reserve Chair Janet Yellen last week described as “stagnant living standards for the majority.”

Why aren’t wages rising? There are several reasons, including that many jobs today don’t pay as well as the ones lost during the recession. ObamaCare has made health insurance more expensive for businesses—as the nation’s biggest employer, Wal-Mart , recently reported—and that takes a bite out of take-home pay. Yet one factor is often overlooked: the tax increase on “the rich” at the beginning of 2013.