I understand that rarely do politicians keep their campaign promises. I really thought Barack Obama was going to keep his promise of no new taxes... until his first two months in office when Porkulous was passed and I said, where are we getting $787 billion dollars from? Spending is only part of Obama's plan of destruction, the other is to tax the bejesus out of everyone who doesn't live on unemployment, welfare, or government housing.
Unemployment is the new welfare, and they want unemployment numbers to look low, but in reality be high so that come October when the extensions expire (again), Democrats can use this to get people out to vote for them for extensions (again). I truly think the only jobs Obama wants to have created are government so he can make this country as close to socialist as possible without the real dummies figuring it out.
There are so many tangents I could go off on here about the tax hikes that are embedded in every bit of legislation that goes through Congress.... who by the way has an 11% approval rating. How'd it get so high? Are there really that many uneducated people in America who think they're doing okay? Or was half the polling sample Washington insiders?
Senator DeMint is one of the leading conservative voices, and I love supporting the Senate Conservatives Fund. I hope our dollars do a lot of damage this fall, of course by damage I mean correcting all the damage done in Washington the last 18 months. Senator DeMint supported repealing the death tax, which takes effect again January 2011. Yet the liberals voted the measure down. Do they not realize the only people this helps is the estate attorneys and insurance companies? Everyone else suffers... and the money gets taxed twice. There is nothing fair about this, and quite honestly nothing moral about it... I guess they assume everyone who leaves money behind is "rich" and Obama and the liberals have a vendetta against anyone who is rich (except themselves, of course). Imagine if George Steinbrenner's family had to pay this tax on his Yankee franchise, an "asset" he left behind... they would be forced to sell and dismantle the franchise he built. In no way do I like the Yankees, however I don't think the family should have to pay 55% of the worth back to the federal government just because he passed.
The one issue that strikes me is 1099s. I was a mortgage underwriter and my least favorite loans were contract employees who had dozens of 1099's to go through and calculate income from. Usually these are only required with payments of over $1,200. Now they will be required for $600 and up. Who will this effect? Small businesses... I'm sure Obama thinks it will create jobs by forcing small businesses to hire people just to constantly complete the 1099 forms to send to minor contractors. Of course the most likely scenario is that the businesses will shut down since they can't afford more workers with their already increased taxes and just don't have the time for this. The only jobs this creates are more IRS workers = government employees. Socialism anyone?
Imagine you own a small florist shop in a small town. You make maybe $150,000 revenue each year before overhead, employee costs, taxes, etc are deducted. You hire an independent marketer to do small mail campaigns for $1,000. Before no 1099, now 1099 required. Not only does that person now have to pay taxes on that income, the small business wastes their time having to fill out and file this paper. Then lets think of everyone involved... floral design suppliers, delivery drivers, glassware/vase suppliers, bow suppliers, those who make the wording to go on floral displays. It is probable that the florist uses several different entitites for these materials, and rarely spends over $1,000 at any one place. Now there will be dozens of 1099s to create, which takes time away from the business (or results in working crazy hours), which causes lost profit. No more vacations or golf outings every 8 days like the President gets. This business may not survive. Oh but at least the IRS can continue to hire.
The Tax Foundation says a family of four with two working members who make $85,000 a year will pay about $1,800 more in federal income taxes in 2011 than in 2010. Tax Foundation president Scott Hodge told MSNBC that 'I'm hard pressed to think of another moment in the history of the tax code in which we have had so many provisions expire at the same time impacting so many Americans all at once.'
To those Americans who hate this country, hate what it stands for, and want to create a socialist haven where nobody works hard, everyone has 13 weeks of vacation a year, healthcare is 'free,' and everything is "equal"... there is already a socialist utopia for you. It's called Europe. Quit trying to infiltrate our government here to make it like Europe. LEAVE!
I support the FairTax, and anyone who doesn't obviously hasn't read the book. Or you're too convoluted in your thinking to broaden your horizons. The 47% of Americans who haven't been contributing to paying their federal taxes... it's time to start! No need to raise rates on the wealthy, raise them on those 47%!
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