Monday, April 19, 2010

Obama Will Continue To Tax Us Till Our Dying Breath

I seem to remember that our forefathers fought the British for excessive taxation by the King. It seems so quaint - their taxation problems compared to ours. It's time to lower taxes on the portion of Americans who have to carry the burden of runaway government and it's time for government to curtail its heavy handed intervention in our economy. Leave us ALONE!

...A recent Rasmussen survey reported that 66% of Americans believe the nation is over-taxed. There's a reason. Under President Barack Obama taxes are going up—a lot.

House Ways and Means Committee Republicans have issued a summary of the 25 tax increases signed into law by Mr. Obama so far. They total $670 billion over the next 10 years, including 14 tax hikes (including an annual tax on every insurance policy and an annual tax on brand-name drugs) that break Mr. Obama's solemn 2008 campaign pledge never to raise taxes on families making less than $250,000 a year.

Many of these taxes are part of the ObamaCare monstrosity. New levies on investment, drugs, medical devices and insurance policies eventually will hit ordinary Americans, and the public knows it. A late March Fox News poll asked, "If major health care reform legislation is passed, do you think your taxes will increase, decrease or stay about the same?" Seventy-five percent think their taxes will increase.

Tax concerns will hurt congressional Democrats. In rural areas, their opposition to repeal of the death tax antagonizes farmers and ranchers. Then there are America's 32 million small-business owners, who feel put upon by the administration's tax everyone-and-everything philosophy.

Families, especially in the suburbs, are pressed by rising property, sales and state income taxes in addition to the federal tax increases. And don't forget the 53 million investors whose battered accounts are only now recovering. There's a new 3.8% surtax on certain kinds of investment income for high earners, but it is not indexed for inflation, so it will bite an increasing number of people over time...
Read "Why Republicans are Winning On The Tax Issue" at WSJ

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