Obama fails to keep his 2009 pledge to cut deficit in half – Deficit skyrockets instead – Proposes draconian tax hikes – Why? So the debt increases by only $1.3 trillion – More Obama, More Debt

Obama submitted his $3.8T budget to Congress. Inside his proposal were the following economically devastating tax hikes:

  • Expiration of Bush-era tax cuts for couples earning $250,000 or more a year.
  • Limiting the value of itemized deductions to 28% for couples earning $250,000 or more a year.
  • Imposing a minimum tax for individuals with annual incomes of at least $1M.
  • Raise taxes on dividends received by the wealthy to 39.6% from the current 15%.
  • $61B “Financial Responsibility Fee” imposed on banks.
  • Increase in the terrorism-security fee charged to airline passengers.

It will take all of these exceptionally destructive tax hikes just to hold the deficit at $1.3T. Not reduce the deficit. Not reduce the debt. Just add more debt on top of debt…just less debt.

That means, we still add $1.3T in debt on top of our current $15.3T in debt, with no end in site. In 2009, Obama pledged to cut the deficit in half by the end of his term. Instead, he has exceeded a trillion dollars for four straight years. And there are still people walking around that would vote for this idiot again? I’m embarrassed for you.

These taxes will divert more capital out of the United States as the wealthy and those who make more than $250,000 a year (who I do not consider wealthy) move their money, investments, and potentially themselves, to other countries. All Obama is doing is making the United States the most acidic and inhospitable environment for wealth creation, capital investment, expansion and entrepreneurship in the world. He is effectively driving out every business minded and creative visionary in the country.

This is the long slow death of our economy. Obama and the government will continue to raise taxes, which drives more people and their money out of the country and before you know it, there is nobody left to pay all the bills. Nobody left to pay the social security payments, to pay for the military machine, to pay for the bailouts, the government union pension plans, bailing out the post office and Amtrak, paying for medicare and medicaid. Eventually, the Government will run out of someone elses money to spend.

And what does that look like?

We’ve seen it already. As reported by Bloomberg, Rioters Burn Buildings as Greek Parliament Votes on Cuts.

The people burning down buildings and lighting the police on fire are not vigilante criminals. They are not felons. They are middle-class government union workers and Greeks receiving some type of government aid. This is what happens when a government runs out of other people’s money and the parasites in society that have lived and depended on bloated government salaries, healthcare benefits and pensions and leaches living off of government aid and subsidies are told they can no longer do so.

This is how Athens burns. Obama is running out of someone else’s money. So which of our cities will be the first to burn?



Categories: 2012 Election, Economy, National Debt, Obama - Our God King, Socialism, Taxes

Tags: , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Our Town Tustin

Blogging political discourse in Tustin, CA

Watchdogs of Our Freedom

WOOF! Counter-revolutionary commentary for our times.

The Grey Enigma

Help is not coming. Neither is permisson. - https://twitter.com/Grey_Enigma

Atridim News Journal

Captain Rick reports quality news of local and global importance

Desert Musings

A REALISTIC look at the world through the eyes of a sane person

Watching A Wreck

America Has Jumped the Track

99% Boston

"we shall be as a city upon a hill"

zalainacarp's Blog

A fine WordPress.com site

GIOSON.75

ÂM NHẠC LÀ SỨC SỐNG CỦA MỌI TÂM HỒN

Shop Mỹ Phẩm - Nước Hoa

Số 7, Lê Văn Thịnh,Bình Trưng Đông,Quận 2,HCM,Việt Nam.

Yes or No on Measure K?

An objective exercise in seeking the facts.

Utopia - you are standing in it!

Celebrating the flourishing of humanity through the spread of capitalism and the rule of law

Notes On Liberty

Spontaneous thoughts on a humble creed

Arlin Report

COMMENTATOR FOR ALL.......SENIOR CITIZENS INFO

Lynette Noni

Embrace The Wonder

Professional Troublemaker

 Jonathan Corbett, Civil Rights Advocate

Dan from Squirrel Hill's Blog

Just another WordPress.com weblog

A Time For Choosing

Just another WordPress.com weblog

the muttering retreat

"I went out walking.....with a bible and a gun" - Johnny Cash

%d bloggers like this: