Largest Tax Increase in U.S. History

[GreatLakesGramma]

Six Months to Go Until the Largest Tax Hikes in History

Quote:

In just six months, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2011.

I suspect this is only the beginning. The day of reckoning is getting closer.

[olger]

Thanks Grandma. As a business owner and head of family, I hate to see this financial oppression of American people. We are very busy this year so far, but if it gets bad enough with Obama's new inTAXication we will have to let people go from our business. Bush was the best thing to happen to business since Reagan. Obama will be the worst since Carter.

press on,

oG

[Guest]

Yep. I posted the same article. But the more the merrier. People need to know what's coming. Most of them don't seem to have a clue.

Say, where are all those obama defenders? They seem to be conspicuously quiet right now. I remember someone a while back saying that higher taxes was not a bad thing.

When it wrecks the entire economy, then YES, it IS a bad thing! But I think this is only the beginning of sorrows.

[Gerr]

What do you expect? People keep demanding politicians to provide certain services that have to be paid for!

[Bravus]

I saw it when you posted it, and have been out fact-checking. On the face of it it conflates a whole lot of different things together, including non-tax (and avoidable) medical expenses, and calling the decision not to extend temporary tax cuts a tax rise.

The broad picture is that on one hand you guys wail about US government debt, and on the other you cavil at taxes. How do you *think* government debt gets paid? And while you're lauding Bush as the best thing ever, remember that a trillion or so of that debt paid for his war of choice...

[Bravus]

Here's an alternative perspective (and don't even bother pointing out that it's from the Huffington Post after your *many* 'don't judge the message by the messenger' posts).

http://www.huffingtonpost.com/2010/04/15/tax-day-2010-protesters-i_n_538556.html

[teresaq]

to no one in particular, what absolutely amazes me is that after so many times of declaring "the sky is falling"-and it hasnt-that we keep on doing it...one of the last times being that the banks were going to collapse...

we have prophecy which tells us what will happen which should guide us in what we will fall for...

but aside from that, just how much proof do we need that God has it all under control-referring back to the banks forecasted to collapse.

[Neil D]

Citizens for Tax Justice, a self-described non-partisan organization, released a report on Tuesday that read: "The 2009 economic stimulus bill actually reduced federal income taxes for tax year 2009 for 98 percent of all working families and individuals." This total includes the 95 percent of working families that will or have received tax credits in the range of $400 to $800.

The health care bill passed by the administration, meanwhile, includes a tax credit that could cover up to 35 percent of the premiums a small business pays to insure its workers. The Recovery Act, meanwhile, included such tax breaks as a $1,500 credit for home energy improvements, and an $8,000 credit for first-time home buyers.

It has been a buffet of tax breaks and credits offered by this administration (occasionally to the chagrin of progressive economists, who want more focus on stimulative federal spending).

Yet polling numbers indicate that Americans are barely aware of these developments. Indeed, a good chunk of the country believes it has been saddled by this administration with tax hikes. Back in mid-February, a full 24 percent of respondents to a CBS News/New York Times poll said that their taxes had increased under Obama. Fifty-three percent said they had stayed the same. Only 12 percent thought their taxes had gone down.

[phkrause]

And not only that, a few years ago, I believe back in '05 or '06, when doing my taxes, they already said that we would not be able to idemize (sp) after '09. And that has always been what we needed to bring our tax down.

[olger]

I saw it when you posted it, and have been out fact-checking. On the face of it it conflates a whole lot of different things together, including non-tax (and avoidable) medical expenses, and calling the decision not to extend temporary tax cuts a tax rise.

The broad picture is that on one hand you guys wail about US government debt, and on the other you cavil at taxes. How do you *think* government debt gets paid? And while you're lauding Bush as the best thing ever, remember that a trillion or so of that debt paid for his war of choice...

Somebody isn't reading accurately.

Best since Reagan was the exact quote, and the context was taxation against business (ON TOP OF ALL THE STUPID REGULATIONS).

cheers,

g

[olger]

I saw it when you posted it, and have been out fact-checking. On the face of it it conflates a whole lot of different things together, including non-tax (and avoidable) medical expenses, and calling the decision not to extend temporary tax cuts a tax rise.

The broad picture is that on one hand you guys wail about US government debt, and on the other you cavil at taxes. How do you *think* government debt gets paid? And while you're lauding Bush as the best thing ever, remember that a trillion or so of that debt paid for his war of choice...

Most families cut spending when income gets tight. That's the intelligent response.

Want to lower government debt - CUT government SPENDING for crying out loud.

yes yes,

og

[olger]

Thomas Jefferson would roll over in his grave if he could see our government now. I am persuaded that he would lead a revolution against them.

g

[GreatLakesGramma]

Thanks Grandma. As a business owner and head of family, I hate to see this financial oppression of American people. We are very busy this year so far, but if it gets bad enough with Obama's new inTAXication we will have to let people go from our business. Bush was the best thing to happen to business since Reagan. Obama will be the worst since Carter.

press on,

oG

It isn't just the fault of the Obama administration. The American people have been demanding more and more services and handouts for decades. Somebody has to pay for those. And everybody wants the government to cut spending and eliminate pork, UNTIL it comes to THEIR neighborhood. Then they raise Cain until the government backs off and continues to fund their project.

Few are willing for the government to actually do what it takes to balance the national budget. In fact, most Americans aren't even willing to balance their own. As I said, the day of reckoning is in sight.

[phkrause]

It isn't just the fault of the Obama administration. The American people have been demanding more and more services and handouts for decades. Somebody has to pay for those. And everybody wants the government to cut spending and eliminate pork, UNTIL it comes to THEIR neighborhood. Then they raise Cain until the government backs off and continues to fund their project.

Few are willing for the government to actually do what it takes to balance the national budget. In fact, most Americans aren't even willing to balance their own. As I said, the day of reckoning is in sight.

Excellent post GLG.