Despite his many lies about not increasing taxes, all of us, rich and poor will be subject to losses of income in a variety of devious ways. Obama plans to drain our pockets, and then the banks vaults. He has already nationalized the automotive industry, by making them an offer they couldn’t refuse. (Heard that as well in the movie,” Godfather”). He is already full steam ahead in his efforts to destroy the economy of this country. President Bush’s tax cuts will no longer be in effect and all of us who pay taxes (I guess that does not include the Treasury Secretary and a few select members of Congress), will see a minimum of 5% increase. There will be a significant tax increase on stock market dividends if there are any. The so-called rich ( I guess government employees and Congress will be exempt), who now pay the majority of taxes in this country, will see an increase to 39% Federal tax. This does not include city and state taxes when added in, could drive your tax on revenue or savings up to 50%. Taxes on Capital gains will increase by 100%. How good is that idea to stimulate business? Then estate tax was repealed as of Jan.1, for this fiscal year by virtue of congressional agreement in 2001. Geithner, our own personal tax cheat wants to repeal it back to Jan 1. Does the administration think that this might give potential heirs the impetus to pull the plug , on some rich, but ill relative? This would certainly satisfy the needs of a death panel, and immediately reduce the costs of treating the elderly as Obama’s Health(UN)CZAR has expressed in his writings. The American people who have responded to fiscal crises in the past have done so because the administration in power agreed to make similar adjustments. This administration, whose reason for being, is to destroy this country piecemeal and ultimately make us all, WARDS OF THE STATE. Obama’s idea to give small business $5000 as incentive for every person hired is idiotic. No amount of immediate productivity will pay their salaries. Would any businessmen resort to letting people go so they could rehire them and collect the bounty?
This morning, Reuters posted an article on the internet, clearly outlining Obama’s tax intent. It apparently was so incendiary, that some flunky from the White House more than likely called Reuters and told them to pull the article. It has since disappeared. I guess Freedom to Read has not be removed yet, just what we are told or allowed to read.