Election Results In Raised Taxes For Americans
When President Barack Obama and the newly elected Congress meet in January to discuss legislative and federal policies, the end result might be higher taxes for Americans based on one of Obama's past propositions.
Throughout his campaign, Obama promoted his platform to raise taxes on wealthy Americans, stating that American millionaires and billionaires "need to pay their fair share," according to Yahoo. The democrat proposed the "Buffet Rule," which would make sure those who earned more than $1 million a year would pay at least 30 percent of their income in federal taxes.
With his re-election in place based on Tuesday's polling results, Obama is likely to continue pushing the initiative when he begins talks with Congress. (Note: Republicans retain the majority in the House of Representatives)
The top individual tax rate is currently at 35 percent, though deductions result in many not paying that actual amount. Obama has promised, according to the Yahoo report, to raise the top individual tax rate to 39.6 percent and end tax breaks for those making high income.
In their calculations of U.S. Job Creation, Gallup reported that an average of +19 for the month of October, with the numbers remaining between +17 and +20 since March. The numbers show the percentage of employers hiring new people minus the percentage of letting people go. The index included calcuations on a montly average from January 2008 until October 2012.
A separate report, of U.S. employment rates, stated that 45.5 percent of the population was on a payroll (full-time with an employer without seasonal adjustment), 15.8 percent were underemployed and 7.1 were unemployed. The findings were last updated on Nov. 6.
For the sake of their analysis, "underemployed" was defined as "respondents are employed part time, but want to work full time, or they are unemployed."
"Unemployed" was defined as "respondents are those within the underemployed group who are not employed, even for one hour a week, but are available and looking for work."
