Middle classes to be hit by tax increase by the back door:

Middle classes to be hit by tax increase by the back door::

"President Barack Obama awoke today to furious reaction to his last-minute debt deal, with experts slamming the agreement as a cruel means of hitting middle classes with tax hikes 'through the back door'.

The President and congressional leaders last night finally announced an agreement on emergency legislation to avert the nation's first-ever financial default. But while the dramatic resolution briefly lifted a cloud that had threatened the still-fragile economic recovery, critics said in the long run the middle classes would bear the brunt of the country's massive debt, with increased taxes set to cover for the White House's reluctance to cut public spending.

(Excerpt) Read more at dailymail.co.uk ..."