MONEY'S NO OBJECT: Obama heads back to Hawaii -- at taxpayer cost of $7 million...Left town without signing bill!

◼ Obama Returns to Hawaii at an Added Cost of Over $3 Million - White House Dossier

In a move that is rich in irony, President Obama agreed Tuesday night to sign an emergency deficit reduction bill that does almost nothing to rein in spending and then jetted out to Hawaii to resume his vacation at an extra cost of more than $3 million to taxpayers.

The price tag is in addition to more than $4 million that is already being spent on the Obamas’ Hawaii idyll, bringing the total cost of the excursion to well over $7 million.

The added cost was incurred because by the time the Obamas return from Hawaii – whenever that is – the president will have used Air Force One to travel to Honolulu and back twice.

◼ Obama In Hawaii, Fiscal Cliff Standoff Behind Him - CBS/DC

◼ Deal Means Higher Tax on 77% of Households...FEW SPARED: Average tax increase will be $1,635... - Bloomberg

More than 80 percent of households with incomes between $50,000 and $200,000 would pay higher taxes. Among the households facing higher taxes, the average increase would be $1,635, the policy center said. A 2 percent payroll tax cut, enacted during the economic slowdown, is being allowed to expire as of yesterday.

The heaviest new burdens in 2013, compared with 2012, would fall on top earners, who would face higher rates on income, capital gains, dividends and estates. The top 1 percent of taxpayers, or those with incomes over $506,210, would pay an average of $73,633 more in taxes.

◼ Bosses: Don't blame us for smaller paychecks...

◼ CBO: 'Fiscal cliff' deal carries $4 trillion price tag over next decade - The Hill

◼ Paul Ryan votes 'yes'; Cantor 'no'... - yahoo



◼ GOP torn in half... - LA Times

◼ Reminder: Most Americans’ taxes are still going up - Doug Powers/Michelle Malkin

While President Obama is taking credit for saving the middle class from tax increases, what isn’t being trumpeted across the land is that the Biden/McConnell deal did not include an extension of the payroll tax cut. This means that this year over three-quarters of earners will be paying — you guessed it — higher taxes... And let’s not forget to add the new Obamacare taxes to the mix — the same ones that even Democrats who voted for the law have admitted will be job killers. There will be no unaffected taxpayers.