Charles Krauthammer points out that the “accounting” in our Dear Leader’s so-called “budget” is the type that would get an ordinary citizen thrown in jail.
Classic Obama debt reduction: Add $2 trillion in new taxes, then add $1 trillion in new spending and, presto, you’ve got $1 trillion of debt reduction. It’s the same kind of mad deficit accounting in Obamacare: It reduces debt by adding $540 billion in new spending, then adding $770 billion in new taxes. Presto: $230 billion of “debt reduction.” Bialystock & Bloom accounting.
Be sure to read the whole thing. Trust me, it gets better.
Filed under: economy, Our Dear Leader, Politics, Taxes
- Individual Mandate Excise Tax
- Employer Mandate Tax
- Surtax on Investment Income
- Excise Tax on Comprehensive Health Insurance Plans
- Hike in Medicare Payroll Tax
- Medicine Cabinet Tax
- HSA Withdrawal Tax Hike
- Flexible Spending Account Cap – aka “Special Needs Kids Tax
- Tax on Medical Device Manufacturers
- Raise “Haircut” for Medical Itemized Deduction from 7.5% to 10% of AGI
- Tax on Indoor Tanning Services
- Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D
- Blue Cross/Blue Shield Tax Hike
- Excise Tax on Charitable Hospitals
- Tax on Innovator Drug Companies
- Tax on Health Insurers
- $500,000 Annual Executive Compensation Limit for Health Insurance Executives
- Employer Reporting of Insurance on W-2
- Corporate 1099-MISC Information Reporting
- “Black liquor” tax hike
- Codification of the “economic substance doctrine”
Yup, if you think Health Care is expensive now, wait until the Government makes it “free.”
Filed under: Culture of Corruption, Politics, Taxes, The Peoples Commonweath
In state well know for out of control government spending, corruption, and general inefficiency, our completely out of touch reality and massively democrat majority legislature has decided to raise the sales tax from 5% to 6.25%.
Even our clueless “Cadillac of Governors” has figured out that this is a bad idea and threated to veto it. So his democrat allies in the State House responded by passing the bill with a veto proof majority.
Our Dear Leader‘s so-called “Cap and Trade” program is really a “Cap and Tax” program that is going to suck more money from the paychecks of every American.
This energy tax is going to hit the poorest the hardest, since they pay the largest percentage of their income on energy costs (electricity, heating and transportation).
White House sources have admitted that this will be an average increase of $1,800 per family!
President Obama’s energy tax plan — a version of the failed European “cap and trade” global warming fiasco — may cost families $1,800 yearly in higher utility bills, far exceeding his promised $800 a year tax cut for 95% of Americans.
While campaigning, Obama admitted that his energy plan would cause electric bills to “skyrocket.” President Obama’s energy tax plan — a version of the failed European “cap and trade” global warming fiasco — may cost families $1,800 yearly in higher utility bills, far exceeding his promised $800 a year tax cut for 95% of Americans.
While campaigning, Obama admitted that his energy plan would cause electric bills to “skyrocket.”
So when Candidate Obama said that Americans making less than $250,000 a year would not see any new taxes, he was lying! Get used to it folks. It’s a long way until January 20, 2013.