Some more hopeychange:
All of those twentysomethings who voted for Barack Obama last year are about to experience the change they haven’t been waiting for: the return of income tax bracket creep. Buried in Nancy Pelosi’s health-care bill is a provision that will partially repeal tax indexing for inflation, meaning that as their earnings rise over a lifetime these youngsters can look forward to paying higher rates even if their income gains aren’t real.
In order to raise enough money to make their plan look like it won’t add to the deficit, House Democrats have deliberately not indexed two main tax features of their plan: the $500,000 threshold for the 5.4-percentage-point income tax surcharge; and the payroll level at which small businesses must pay a new 8% tax penalty for not offering health insurance.
This is a sneaky way for politicians to pry more money out of workers every year without having to legislate tax increases. The negative effects of failing to index compound over time, yielding a revenue windfall for government as the years go on. The House tax surcharge is estimated to raise $460.5 billion over 10 years, but only $30.9 billion in 2011, rising to $68.4 billion in 2019, according to the Joint Tax Committee.
This is just another way for liberal Democrats to steal more of our money without the inconvenience of having us know they’re doing it. Never underestimate the rank dishonesty of a liberal politician – remember, Obama ran as a centrist – they will lie, right to your face and while you know they’re lying, if they think they can get away with it. This is what comes from having people who don’t believe in absolute right and wrong – if you don’t hold to such a thing, then there’s nothing wrong, and so lying to advance your cause is just cleverness…and a way to beat down those fools who believe that lying is wrong. Pelosi and Obama have said that their health care experiment will not cost any additional money. That is a lie, and they know its a lie – and so they are restoring to scams like this to plug the gap.
It really is “welcome back, Carter”. 28 years after Ronald Reagan saved us from a second Carter term, the people who were young, liberal zealots at the time (and Obama was one of them, though not in any official position at the time) are determined that Carter’s plans be carried out. How else can we explain the kowtowing to enemies, the insults to friends, the massive new spending, the crushing tax increases pending and, now, this back door way to pick our pockets? Heck, now that Daniel Ortega is setting himself up as re-dictator of Nicaragua, Obama will even leave his successor a Sandinista tyranny, just like Carter did. All we need are the really bad clothes and a revival of disco and our misery will be complete.
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