Posted on 07/02/2009 9:01:29 AM PDT by IbJensen
Let's see if I have this straight. Candidate Obama promised “no new taxes for 95 percent of the people” (about 30 percent of whom pay nothing anyway). That means all new programs are to be paid for by the remaining 5 percent. Right so far?
Candidate Obama sharply criticized John McCain for proposing a health care benefits tax.
Obama has given or has proposed to give billions of dollars to Chrysler, General Motors, foreign banks, AIG, unions, Fannie Mae, Freddie Mac, Morgan Stanley, ACORN and even organizations, states and banks that didn't want it. (Of course California, the least frugal state of all, is standing in line with its hand out.)
All this with money Obama doesn't have and for projects that create no jobs. Less than 1 percent of the stimulus money has been distributed to “shovel-ready” jobs. His programs have unbelievable costs, including a government health care plan, amnesty and bailouts for bankrupt companies. Many threaten our very freedoms.
Obama's massive public health care plan could cost as much as $3 trillion. He said he'd even “let us keep our own doctor.” How generous. I thought he worked for us.
Here is the tough question: Who will pay for all this wonderful socialism? You will, of course, even though you are in the 95 percent who were promised “no new taxes.” Why, you ask?
The taxes raised from the 5 percent, if taxed 100 percent of their income, would not pay for all the trillions of dollars these programs will cost. So what's the source of money?
• Print more money, resulting in inflation, towering debt no other country will buy and higher cost of goods to you as your dollars shrink in value (a hidden tax).
• Cut back on spending. With a Democratic Congress and president? Good luck.
• Tax the middle class. Yes, of course. That's you! And that's reneging on a campaign promise, more or less.
Option three is the most likely. Here is how:
• Tax soft drinks, wine, beer and liquor. (Who pays? The middle class.)
• “Cap and trade” (narrowly passed in the House last week) is a cap and tax on energy usage based entirely on faulty global-warming science. If passed, this bill is projected to raise your living costs by $1,000 to $4,000 per household per year. (Another unnecessary middle class tax.)
It was reported Monday that the Environmental Protection Agency has covered up major studies that totally debunk global warming as reported in Al Gore's movie, “An Inconvenient Truth.” His own scientists have reversed their comments, but Gore has made $100 million on the hoax. Congressional hearings and possible criminal investigations will follow.
• Tax your employee health care benefits, except unions and Congress, of course. (It's a discriminatory tax.) Unions voted 99 percent for Obama.
• Tax your net worth, say 2 percent per year. With inflation at 3-plus percent and a 2 percent tax, try to break even with a 5 percent interest rate CD (if you can get one).
• Value added (sales) tax. Every product is taxed at each level of production and distribution, adding cost to whom? You guessed it, the consumer.
• Taxes on charitable deductions, mortgage interest, medical deductions and Social Security (what is left) are being considered. Who knows, some idiot's probably got a grant to study the number of “toxic” carbon dioxide exhales one makes in a lifetime to tax our breath. (No refunds if you die early.) Why not? They are considering taxing cow emissions. You're next.
Have I forgotten any congressional tax? Use your imagination.
Oh yes, in addition, irresponsible spending by state and local governments must be paid for with higher car-registration fees, increased gasoline taxes, higher property tax (to buy open space no taxpayer can use), state income tax, increased building fees and more and more fees.
Who pays? The rich 5 percent? They'll be broke. Other people's money doesn't last forever. Obama wants yours, too. There's no such thing as a free lunch.
All this foolishness costs money. After all, it is said that every politician is a prostitute who buys your votes with lies and campaign promises. Is it all for the public good, or is it just another power grab?
When the government fears the people, you have freedom. When the people fear the government, you have — tyranny. All hail the king!
Dick Gustafson, of Vail, is a former Eagle County commissioner.
When Obama allows the 2003 tax cuts to expire at the end of 2010, the federal income tax rates go back up to the higher tax rates of the year 2000. All income levels will be paying higher federal income taxes: low income, middle income, and high income.
Someone making $50K/yr will see $2500 less of their money per year.
It will be enough when the Rats have completely destroyed the United States and replaced it with a turd world socialist nation with them as the elite ruling over 300 million peasants.
Let the Fed cut or fall short of State “subsidies”...like in NY and guess what....You get new and bigger state taxes....NY went Tax and FEE crazy this year....
With asshats like Mitch McConnell and Orrin Hatch in the Senate, there will be no serious proposals.
First they shrink our savings and destroy the equity in our homes, then they finish us off. We still get to live in our houses, but in a broom closet sized room while the Obomba rats take over the rest of the house.
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