Posted on 06/30/2009 5:51:43 AM PDT by Need4Truth
Obama said he wouldn't raise taxes on anyone making under $250,000, a promise that's technically already been violated by new taxes on cigarettes and his pledge to sign cap & trade if it gets through The Senate. His aides would say those don't count.
But evens setting those aside, real tax hikes are almost certainly in the works, if only due to the massive amount of new spending (particularly on healthcare) this government has planned. The idea that it can all be financed on the (dwindling) $250k+ crowd is absurd.
(Excerpt) Read more at businessinsider.com ...
Consumers are doing the right thing by increasing savings but it will be a long slow process to get the ship back upright. Consumers are tightening their own belts and attitudes are changing. Will their voting habits change as well?
Mr. Obama and the Democrats are continuing on their merry way in the wrong direction.
taxpayers have to live on a budget,
and so city, county, state and the fed governments can too.
Deval Patrick already beat him to it.
Obama Wont Rule Out Middle Class Tax Hike (video of Stephanopoulos, Alexrod interview)
Most people who are not on govt help are doing just that. Like preparing for a hurricane. Also, as to this 250K figure. It must part of the dimrat party talking points. algore said once that if a taxpayer made 250k for 4 years running, that made them a millionaire. During klintoon’s folly, he could lie his ass off the the media swooned about what an outstanding liar he was. But klintoon had a few in the media that weren’t in the tank. ozero has them all in a financial pinch and they won’t dare speak out against their lord and master. The 250K figure is meaningless. Everyone with a paycheck will get hammered. Including the dimrat lemmings that blindly voted for and continue to follow their messiah.
Yeah but the fed govt is the only one that can create money out of thin air by printing it. The rest of us can’t. Cities, counties and states are in a real jam because their tax revenue is dropping and will continue to drop. When more and more people are out of work and not spending they are not generating income taxes and sales taxes. Add in businesses that are not paying taxes since they went under, the tax revenue is really dropping. So what are the feds doing? Raising taxes on those who are still paying and printing more money.
And printing money (dollarizing the Federal debt) amounts to a flat tax on all Americans in that it reduces the value of each dollar (via inflation).
CBO projects we will be spending 113% of GDP by 2026. That is at our current levels. As we know, when you increase cost of energy GDP goes down. That number will grow very quickly, and probably will be reached much sooner.
When the 2003 tax cuts expire at the end of 2010, the federal income tax rates go back up to the higher rates of the year 2000. Low income, middle income, and high income will all have their federal income taxes raised.
Standard Socialist Operating Procedure! Borrow high value currency, debase its value, repay (if at all) in low value currency. Net Result - a massive, massive, hidden, deniable taxation.
As Gomer Pyle used to say, “Surprise. Surprise”.
Actually it sounded like “Surpraaahz. Surpraaaahz”.
If cap and trade passes, with its antagonistic approach to American energy production guaranteed to radically raise energy prices and thus the price of EVERYTHING, and if obamacare passes which will raise the taxes on EVERYONE, and if the Bush tax cuts are allowed to expire and thus raising everyone's taxes, there will be no recovery.
America has had a good run since WWII, but unless obama and the demonrats are stopped, our time is over. Voters will have done what all of our enemies have failed to do.
Oh! And I have another one for you.
Issue 4% Government Bonds at par. Cause interest rates to go to 23% (Jimmah did that). Now the bonds are way, way, way below par. Buy them back with the currency you have debased.
Result: more massive, massive, hidden, deniable taxation.
Nothing new here - I have seen it and lived under Socialism in other countries.......shall I go on with more examples?
This is why the American people have lost complete faith in their state and federal governments.
To raise taxes across the board on everything during a deep recession/depression is the very height of insanity and incompetence.
This is why the American people have lost complete faith in their state and federal governments.
To raise taxes across the board on everything during a deep recession/depression is the very height of insanity and incompetence.
I agree 100%!;-)
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