Middle Class Taxes on This, VAT, and the Other
8:34 AM
by Nick Stone of Drawnlines Politics.
President Obama took a read my lips-style “No New Tax” pledge on the campaign trail. Accused of being a typical tax-and-spend liberal, Obama pledged in New Hampshire on Sept. 12 2008, “No family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.”
But according to Newsmax, President Obama broke his pledge only 16 days into his presidency by signing SCHIP which was paid for in part by levying a new cigarette tax. Smokers have an average income of $36,000 a year. Since then, the broken promises have kept coming.
The White House budget from February 2009 included $210 billion on “enforcement” of international income for multinational corporations, $5.3 billion excise taxes on Gulf of Mexico oil and gas, $882 million to eliminate the advanced EITC, and a plethora of other taxes that would be passed along to consumers. (Jake Tapper, ABC News, Feb 26 2009)
Obama’s stimulus plan and other new measures raise taxes by shifting federal burdens like Medicaid to already cash-strapped states, which will then have to increase sales, income and property taxes on their residents to offset new spending.
Obama’s health care proposal was loaded with middle class tax hikes at every level.
The Joint Committee on Taxation scored that in 2019 alone, taxpayers earning under $200,000 will pay roughly $3.9 billion in taxes under Obamacare. Whether losing their ability to deduct medical expenses, paying for hidden taxes on medical devices, or whopping penalties for inability to purchase coverage, lower and middle earners can expect new expenses at every turn.
The Medicare payroll tax would apply to “interest, dividends, annuities, royalties and rents” and is “one of the largest tax increases for health care in history,” according to the WSJ. This comes on top of a 0.9% increase on payroll taxes in the bill, which according to the Journal editorial board is a “tax on job creation.” Which jobs, you might ask yourself? Middle class jobs.
So now that the president has already blown his pledge out of the water, why not keep the dream of new middle-class tax revenue alive in the future? Why not indeed.
Obama’s grand scheme of a “Wall Street transaction tax” would hit practically anyone who occasionally dabbles in stocks, options, commodities, foreign exchange, etc.” Have a 401(k) or an IRA? Cha-ching, you are now a revenue source for Obama’s spending. But then, you weren’t planning to ever retire, were you?
His idea to raise gasoline and “carbon” taxes would have the duel effects of killing jobs and raising taxes on poorer Americans at the same time. If you are one of those dreaded Americans working at a place where raw materials are made or purchased or turned into new products, this means you. If you drive to work or power your home in any way, this also means you.
And coming down the pike is the largest, most vicious middle class tax hike of all: The Value Added Tax or VAT. This sometimes-called “National Sales Tax” would apply to products purchased on top of our current local and state sales taxes as well as income, property, payroll and other taxes. But in direct conflict with the president’s pledge, this tax would affect everyone. This potentially evil tax directly applies to the end consumer of any product, which would be the purchaser of anything from Brawny paper towels to Kraft American cheese or a Chevy Malibu. Cha-ching! There goes Obama for your wallet again, Middle America.
Let’s recap!
In the age of Obama, 95% of America will see their taxes go down, right? The Middle Class will be spared from any tax increases of any kind, yes? Of course that’s true.
Unless of course you: have a job, drive to that job; own, rent or purchase a home; power that home in any way; use or dispose of water at that home; produce, sell, purchase or consume any product known to man; invest in our economy; run or invest in a small business; or ever plan to retire. If any of these exceptions apply to you and you are a middle class person, then you are screwed. Please hand your pay check to the president of the United States at your earliest convenience.
If you find your head spinning from the onslaught of new taxes coming your way, you might want to enjoy an ice cold soda, cranberry juice or cocktail. But you’d better drink it soon! The Obama administration and its congressional allies have a new middle class tax hike in the works for those too.
There's ALWAYS something new happening at Drawnlines Politics.
For videos and archives visit our homepage
Check out our new Election Center!
President Obama took a read my lips-style “No New Tax” pledge on the campaign trail. Accused of being a typical tax-and-spend liberal, Obama pledged in New Hampshire on Sept. 12 2008, “No family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.”
But according to Newsmax, President Obama broke his pledge only 16 days into his presidency by signing SCHIP which was paid for in part by levying a new cigarette tax. Smokers have an average income of $36,000 a year. Since then, the broken promises have kept coming.
The White House budget from February 2009 included $210 billion on “enforcement” of international income for multinational corporations, $5.3 billion excise taxes on Gulf of Mexico oil and gas, $882 million to eliminate the advanced EITC, and a plethora of other taxes that would be passed along to consumers. (Jake Tapper, ABC News, Feb 26 2009)
Obama’s stimulus plan and other new measures raise taxes by shifting federal burdens like Medicaid to already cash-strapped states, which will then have to increase sales, income and property taxes on their residents to offset new spending.
Obama’s health care proposal was loaded with middle class tax hikes at every level.
The Joint Committee on Taxation scored that in 2019 alone, taxpayers earning under $200,000 will pay roughly $3.9 billion in taxes under Obamacare. Whether losing their ability to deduct medical expenses, paying for hidden taxes on medical devices, or whopping penalties for inability to purchase coverage, lower and middle earners can expect new expenses at every turn.
The Medicare payroll tax would apply to “interest, dividends, annuities, royalties and rents” and is “one of the largest tax increases for health care in history,” according to the WSJ. This comes on top of a 0.9% increase on payroll taxes in the bill, which according to the Journal editorial board is a “tax on job creation.” Which jobs, you might ask yourself? Middle class jobs.
So now that the president has already blown his pledge out of the water, why not keep the dream of new middle-class tax revenue alive in the future? Why not indeed.
Obama’s grand scheme of a “Wall Street transaction tax” would hit practically anyone who occasionally dabbles in stocks, options, commodities, foreign exchange, etc.” Have a 401(k) or an IRA? Cha-ching, you are now a revenue source for Obama’s spending. But then, you weren’t planning to ever retire, were you?
His idea to raise gasoline and “carbon” taxes would have the duel effects of killing jobs and raising taxes on poorer Americans at the same time. If you are one of those dreaded Americans working at a place where raw materials are made or purchased or turned into new products, this means you. If you drive to work or power your home in any way, this also means you.
And coming down the pike is the largest, most vicious middle class tax hike of all: The Value Added Tax or VAT. This sometimes-called “National Sales Tax” would apply to products purchased on top of our current local and state sales taxes as well as income, property, payroll and other taxes. But in direct conflict with the president’s pledge, this tax would affect everyone. This potentially evil tax directly applies to the end consumer of any product, which would be the purchaser of anything from Brawny paper towels to Kraft American cheese or a Chevy Malibu. Cha-ching! There goes Obama for your wallet again, Middle America.
Let’s recap!
In the age of Obama, 95% of America will see their taxes go down, right? The Middle Class will be spared from any tax increases of any kind, yes? Of course that’s true.
Unless of course you: have a job, drive to that job; own, rent or purchase a home; power that home in any way; use or dispose of water at that home; produce, sell, purchase or consume any product known to man; invest in our economy; run or invest in a small business; or ever plan to retire. If any of these exceptions apply to you and you are a middle class person, then you are screwed. Please hand your pay check to the president of the United States at your earliest convenience.
If you find your head spinning from the onslaught of new taxes coming your way, you might want to enjoy an ice cold soda, cranberry juice or cocktail. But you’d better drink it soon! The Obama administration and its congressional allies have a new middle class tax hike in the works for those too.
There's ALWAYS something new happening at Drawnlines Politics.
For videos and archives visit our homepage
Check out our new Election Center!
Posted by Nick Stone
on 8:34 AM.
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For 90%+ percent of the people in this country, they will be paying less taxes this year than they have in the past. And you're actually considering a new tax on cigarettes an increase in taxes? I don't agree with it, but you don't have to smoke...and I'd rather it get paid for that way than with a mandatory tax on my income.
Also homeowners and home buyers get a tax credit this year.
You should really get your news from other sources than Newsmax. They love to showcase the places that Obama has raised taxes but never want to indicate where this has balanced out or where taxes have been lowered or tax credits provided.
Good article for the former Hillary supporter turned tea-party-nut:
http://www.newsweek.com/id/236938?from=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+newsweek%2FTopNews+%28UPDATED+-+Newsweek+Top+Stories%29