HUMBLE PIE #1
I'm worry about what America will eat.Right now it is humble pie
Obama Failed Taxes Policy: In order to pay for a national health care system, that we don’t need, BO’s socialist planners have proposed a VAT (Value Added Tax) which will be in addition, not in place of, a Federal Income tax. While BO “said” he will eliminate the tax on 10Million American’s, what he “means” is he will raise the taxes on ALL American’s.
Obama Failed Taxes Policy: As deficit spending grows (est. $1 Trillion in the first 6 months of BO’s LAST term in office), the debt must be financed by either going to the credit markets to borrow money, which will ultimately cause interest rates to shoot up, or raise taxes on business and/or individuals. Closing tax loopholes for corporations is another example of BO’s overall plan to kill capitalism as we know it. Corporate tax “loopholes”, as with home mortgage interest deduction “loopholes”, were put there for a reason. The elimination of loopholes simply means that BO knows better how to spend money than the private sector or individuals do. The result: major corporations and small business will be purchased by foreign entities or relocate offshore to the U.S. If BO had any clue about how capitalism works, he would understand that corporations do not pay taxes, they simply raise their prices to offset tax liabilities.
Obama Failed Taxes Policy: "We have begun to modernize 75% of all federal building space, which has the potential to reduce long-term energy costs by billions of dollars on behalf of taxpayers. We are providing grants to states to help weatherize hundreds of thousands of homes, which will save the families that benefit about $350 each year. That's like a $350 tax cut." -- Obama, describing something that doesn't cut taxes but reflects his failed energy policies.
Obama Failed Taxes Policy: There is no possible way that Obama can reduce the deficit with his current tax plan. Obama has increased deficit spending to twice the level of every previous President combined. The CBO projects a $3.5 Trillion increase in spending with average interest on the debt of $1Trillion per year for the next decade.
Obama Failed Taxes Policy: It's really unbelieveable what's happening... Last week the B.O. "admin" requested the power to take over ownership of privately owned businesses in America (for instance - how about the offshore companies for ex. They will restructure pay, health benefits, whatever - but it'll all be "for the good of the enviroment" won't it?) Now, they're demanding "restructuring" from GM & Chrysler or they will ultimately face collapse. When do the American sheeple stand up & notice that the government is taking over our country, our finances & our lives???? This is totally freaking scary! Currently, I plan to attend the April 15th rally
Obama Failed Taxes Policy: The IRS again does not stimulate the economy based on the stimulus package. From IRS: Many higher-income taxpayers will see little or no change in their take-home pay. That’s because the Making Work Pay credit is phased out for a married couple filing a joint return whose modified adjusted gross income (AGI) is between $150,000 and $190,000 and other taxpayers whose modified AGI is between $75,000 and $95,000.
Obama Failed Taxes Policy: From IRS Regulations: Most workers will qualify for the maximum credit. Because the credit is refundable (people can get it even if they owe no tax), most low-income workers will also qualify for the full credit.
Obama Failed Taxes Policy: Obama defines the wealthy at $250K and above but does not take into consideration that most small business are carried as Sub-Chapter S and his plan will cause many to lose their jobs.
Obama Failed Taxes Policy: The trillion dollar stimulus pork bill provides from $12-13 withholding deduction for a total of about $600 per year THAT MUST BE REPAID AT TAX FILING TIME. Many working American's will find it difficult to repay this $600 loan from the IRS.
