Posted on 03/11/2009 6:19:01 AM PDT by jmaroneps37
April 15 will bring a “Quiet Taxpayer revolt.”
Anger over Obama’s destructive tax and spend policies is palpable among patriotic American conservatives.
Some may even risk prison rather than pay their taxes. Nevertheless, they won’t be alone. A portion of Obama’s childlike liberal upper middle class voters will join them, not in protest but in a naïve belief they will be excused by their Dear Leader.
Since day one of Obama’s “Chicago Way” they have watched a parade of Democrat tax cheats be given absolution by other Democrats. Not one tax cheat was rejected by the Senate in a confirmation hearing. Many were approved in spite of being tax cheats.
Liberals don’t see tax cheating as a crime, just a little mistake.
This foolish view will be an important ingredient in a surprising taxpayer revolt.
Among Obama’s most ardent supporters are the type of college educated liberals who rely on their Stock Market supported 401 K retirement plans.
The first week of April will bring ghastly and deeply shocking news to these people.
Barack Obama has destroyed at least Two Trillion dollars of America’s stock holding and the pain this has caused and will continue to generate has yet to be fully realized.
Many will not be able to pay their tax bills, but it’s a good bet they won’t worry about not paying. They hold childlike beliefs Dear Leader’s government would never hurt because of the recession “everybody knows was caused by the evil George Bush.”
These people have gladly and willingly paid their taxes for a lifetime. They don’t know they should be terrorized by what IRS goons can do to them. They’ll see themselves in an emergency situation so they “know” they’ll be excused just like their Democrat heroes have been.
This will be fun to watch.
(Excerpt) Read more at collinsreport.net ...
I don’t even want to look at mine.
Annually a few people take that risk. They're called "Inmates".
“Some may even risk prison rather than pay their taxes. “
Enjoy prison, or paying those fines and interest.
Folks, if you haven’t yet,
figure out what your maximum exemptions on your W4’s can be and set them to that - ASAP.
It’s YOUR MONEY.
On a related note: withholding tax money from everyone's paycheck was always a stroke of genius. If everyone had to actually write a check for -- let's say, $50,000 -- in April, I think people wuld be more conscious of how much they really pay, how much it hurts, and I think there would be more pressure to reduce the cost of government.
Similarly, if the government depended on getting enormous checks once a year, it would be a lot easier for people to protest by not sending it in. With withholding, the best many people can do is just to increase the number of dependants on their W-2. Such a form of protest is not quite so dramatic.
“Not one tax cheat was rejected by the Senate in a confirmation hearing. “
Ummm, several never got that far. They withdrew and paid up.
In answer to Zero's 'Yes we can' slogan, Americans should reply -
WHY SHOULD WE?
No offense but, You must be kidding. Commisar Obama has better things to do than worry about the financial markets. he told us so. He wants the 401k’s to fail it creates more “victims”
The likely reality is that Zero’s realized deficit will be substantially larger than his proposed one. One has to suppose that tax receipts from many millions of newly unemployed will diminish. We will likewise see much lower tax receipts from no longer profitable companies. Capital gains taxes? Who has a gain? Raising spending at this time is risky stupid. Republicans should be preparing to attack Zero’s underestimated deficit. They should raise the spectre of a $2.5 - $2.9 trillion deficit instead of the $1.9 promised. Relying on the untested agitator is a recipe for disaster.
How about this as asuggestion:
Set the number of deductions of your W-4 so that NO income taxes are taken out. Say for 3 months or so. (set $ aside to pay next year of course) Starve the beast!
Look at it!
Ours bled away 50% since Sept, 20% just since January
There are things you can do to staunch the bleed- go into safe funds (cash) as quickly as you can and wait out the equity market storm- we may not even be in the eye yet
The only way to have a tax revolt is to send letters to your legislators. Messing with taxes is a no-go.
I DON’T even look at mine anymore...straight to the shredder. Why depress myself? I know it’s bad.
That’s fine if you have been getting a “refund” but for those that owe, may owe, or pay quarterly, be aware that you may then owe a penalty for underreporting.
The best article I’ve ever seen on that very subject.
http://www.cato.org/pubs/journal/cj14n3-1.html
EVOLUTION OF FEDERAL INCOME TAX WITHHOLDING: THE MACHINERY OF INSTITUTIONAL CHANGE
by Charlotte Twight
Our Social Security payments have all been spent, too. The government stole them. Oboma has said nothing about giving us our retirement money back.
“penalty for underreporting”
yop. 10% I believe. Be prepared for that or have more taken out later in the year. Or be prepared for jail. I don’t think there are enough people to make that work anyway.
/sarc
You can at least make sure you’re not giving them an interest-free loan of your money for the year.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.