No April Fool’s Joke: Obama Broken Promise to Take Effect April 1

ATR ^

[nateriver]

I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. – Barack Obama, Sept.12, 2008 Dover, NH

[mylife]

And... Apr 1 he lays a 2200% tax on roll your own Tobacco

[mylife]

Stand by America. This is just the thin edge of the wedge

[period end of story]

Worst...joke...ever....

[mylife]

I am making up a ciggy from “black wolf” tobacco,

“patriot tobacco Co” Denton Tx

They are out of business now, thanks to Obama.

I bought the last bag the local shop had

[Sequoyah101]

ha, ha. This isn’t the only surprise coming.

I say again, the number of changes made in the last 60 days are well beyond the capactiy of most people to absorb.

I guess someone has dug out all the “stuff” in what ZERO has signed but I have not seen it yet.

If you like the stimulus your’re going to love the budget since it is full of even more terrors than the bailout.

[mylife]

Patriot was just hiring a year ago.. good jobs

http://www.jobs-salary.com/salary-of-patriot-tobacco-company.htm

Thanks Barama

[ducdriver]

What he didn’t say was that his plan will not be passed...Congress’ plan will, and it will be worse, and he will sign it.

[RandallFlagg]

I can make a firm pledge. Under my plan, non-smoking families making less than $250,000 a year will see any form of tax increase. – Barack Obama, Sept.12, 2008 Dover, NH

Fixed.

[mylife]

Next up? Soda drinkers.

By Gawd! Co2 that bubbles yer drink is poison! It is destroying the planet!

AND The sugar in pop is making you diabetic! Its a burden on our health care system!

[Gator113]

Indian reservations are going to get very busy.

[mylife]

I dont think the “people” know whats coming

[LukeL]

Instead of stores posting the price of tobacco with the taxes already factored in (sans sales tax) they should post the MSRP price and then at the register ring up all the taxes and we will see how much longer this crap will continue.

[mylife]

BTW, grow your own, and you owe Barama $25 an Lb

what an asshat

[Domandred]

April, 1 2009, when the 156 percent – or 61 cents per pack - cigarette tax increase Congress passed and President Obama quickly signed shortly upon assuming office will take effect.

Smokers know that the tobacco companies have ALREADY raised prices claiming it's the new tax.

[tina07]

from another thread:

We just spent far more than that on tarps and stuff...

- $400 billion in taking over Fannie and Freddie;

— $42 billion for the auto giants; billions more coming for their suppliers;

— approaching $200 billion for AIG with more coming on request;

— $350 billion to Citigroup in handouts and loan guarantees;

— tens of billions to other banks, including $87 billion to JP Morgan Chase for bad Lehman Brothers trades;

— $700 billion for TARP I; half the money released under TARP II;

— over $200 billion and counting for the Term Asset-Backed Securities Loan Facility (TALF) to extend government-guaranteed loans for investors to buy “certain AAA-rated asset-backed securities (as a) component” of the Consumer and Business Lending Initiative (CBLI), established under the Emergency Economic Stabilization Act (EESA) of 2008;

— the $787 billion stimulus under the American Recovery and Relief Act of 2009 (ARRA);

— around $300 billion under the Homeowner Affordability and Stability Plan (HASP) - the so-called mortgage bailout plan;

— $50 billion backing for short-term corporate IOUs held by money market funds - from the Exchange Stabilization Fund (ESF), a vehicle established by a provision in the 1934 Gold Reserve Act for foreign exchange intervention to stabilize the value of the dollar;

— $500 billion for various credit market rescues;

— $620 billion for industrial nations’ currency swaps;

— $120 billion for emerging economies’ currency swaps;

— $1.25 trillion for Fannie and Freddie mortgage backed securities;

— $200 billion for Fannie, Freddie, and Federal Home Loan Bank bonds;

— way more than the announced $300 billion for longer-term Treasuries (mostly with 7 - 10 year maturities); the Fed’s been buying billions of them since last year;

— Fed-expanded overnight lending to $2.4 trillion - free money at 0% interest;

— a reported $750 billion for banks in the FY 2010 budget - yet to be voted on and appropriated;

— a proposed $470 billion increase for the FDIC to borrow from the Treasury;

— perhaps hundreds of billions more in unannounced or hidden handouts in amounts and to whom the Fed and Treasury won’t say; on March 14, AIG named its big counterparties for the first time with firms like Goldman Sachs, Societe Generale, Deutsche Bank, and Barclays showing up prominently; and now

— PPIP - the latest gift to Wall Street courtesy of taxpayers getting none of the gain and all the pain.

A Treasury Fact Sheet explains it on its web site. In “gov-speak,” it cites the “challenge of legacy assets” comprised of (distressed commercial and household) “loans”/mortgages and (toxic) “securities” (mortgage-backed and others) with a new Public-Private Investment Program (PPIP) in conjunction with the FDIC and Fed to finance and guarantee it. The idea is to “repair balance sheets,” encourage banks to lend, and “help drive us toward recovery.” It expands TALF “to bring private investors back into the market” by offering deals too sweet to pass up:

— a public-private (open-ended) trillion dollar partnership with Washington contributing up to 95-97% of the cash and investors the other 3-5%;

— the Fed and FDIC (through low-cost loans and guarantees) acting as middlemen to transfer “legacy asset” losses to the public while buyers get government financing and guarantees (for no-risk investments) to purchase them on the cheap for themselves and well above fair value for the banks;

— PPIP particulars are for $100 billion in mostly TARP and some private capital with Fed and FDIC $500 billion in leverage financing to expand it to $1 trillion or more in purchasing power.

In a March 23 Wall Street Journal op-ed, Geithner called it “My Plan for Bad Bank Assets (to) increase the flow of credit and expand liquidity (and do it by) shar(ing) risk with the private sector (to) rid banks of legacy assets.” These “policies will work,” says Geithner, even though everything tried to date failed, and the only achievement is what they planned - the greatest ever wealth transfer in the shortest span of time, now increased by another trillion or more through PPIP and whatever else the masters of the universe have in mind.

“Toxic-Asset Plan Lifts Stocks,” headlined the Wall Street Journal, after surging around 7% on March 23 with banks and other financials in the lead, buoyed by the prospect of more free money, hundreds of billions for the taking, and plenty more where that came from.

If It Works, A Win-Win for the Money Trust

[Seniram US]

With regard to the Indian reservations, I was told they are not exempt from federal taxes. Can anyone confirm?

[Gator113]

I no longer smoke, so I don’t know for certain. I do know that they have escaped a great deal of the taxes.

I have a friend that came by today and was telling me that he had just paid $58 for a carton and that from now on he’ll be going to the reservation to save about $20 off that price. From time to time I do miss the smokes, but these prices make it easier to stay away from them. Well, I still like an occasional cigar, but like Clinton, I don’t inhale. ;>)

[widdle_wabbit]

Already happened here. Cost nearly 28.00 dollars for three packs of cigarettes and the loose leaf tobacco already took a 24.00 dollar hit on a 19.00 dollar tin.

Liar in-chief.

Change we can deceive in.

[Quiller]

What he didn’t say was that his plan will not be passed...Congress’ plan will, and it will be worse, and he will sign it.

But just this one time, even though he would be agaisnt it, and even though he said he would be against it, next time he will really be against it, and will actually ACT against it, instead of just saying he's against it, which is, like, against it but not against it, because this time is too important to be against it, even though, really, he IS against it, and said he was against it, but can't actually be against it.