Here we go again folks, the Obama lies continue to flow. Remember when he said this? “I can make a firm pledge. Under my plan no family making under $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains, not any of your taxes.” Really. Then how is it that this week when people got their payroll checks they were a little thinner than they were in 2012? I’m not talking about the “evil rich”, but the average everyday worker.
With the expiration of the payroll tax cut, Americans just saw a 2% bite taken out of their checks. Beginning in 2009, Congress cut the payroll tax in order to put more money into people’s pockets. The tax was reduced from 6.2% to 4.2%, but now that tax rate has bounced back to 6.2% for good. This means that the average worker who earns about $50,000 a year will see around an $80 a month bite out of their earnings or about $1000 a year.
Of course the White House is spinning like a top over this. They are playing the usual sleight of hand and word parsing exercises that they always do. “It’s not REALLY a tax increase; it was scheduled to happen anyway. Besides, it was only TEMPORARY to begin with.” Now we all know what happens when you give something to someone and then take it away. They aren’t going to be very happy about it. Just look at what happens when cutting entitlements is mentioned.
So, Middle Class, you’ve been conned once again. How many times will you fall for the same old lies, the same old promises and then get punched in the gut when you open your paycheck and see more of your money being stolen?
This isn’t going to end. Oh no, it’s just the beginning. Wait until Obamacare kicks in with its massive taxes and fees and premium hikes that were oh so sincerely promised to not change. Just wait until that famous lie, “You can keep your doctor and your health insurance if you want.” Sure you can, if your doctor is still practicing and your insurance company hasn’t gone out of business.
What is with these Washington types? Why is it that they can’t just come out and say, “Hey, this country is up the creek and we lost the paddle. Every American is going to have to suck it up and pay more taxes. Not just the rich, (who if you took 100% of their earnings wouldn’t be a drop in the bucket.) but everyone. Rich, middle class, even the poor, who will have to do with fewer entitlements.” Just tell us the truth, don’t dance around with lies and promises just to get re-elected and then zing us with “just kidding!”
We don’t have a prayer of reducing our deficit with the ridiculous deals coming out of Washington. The Fiscal cliff deal was an absolute joke and will do absolutely nothing to stop this train wreck from happening. The debt ceiling issue is up next and here we are, back to square one rehashing taxes and spending once again.
I know how this movie ends. The Democrats are already screaming for more revenue, the Republicans want cuts, yada, yada, yada. Unless someone really gets serious we will be watching the same old re-runs year after year until one day the tv set goes dark, the lights go out and the country is done.
We all know that middle class taxes have to be raised to tackle this problem. No amount of lying from Washington can deny that. They may as well just tell us now. There is no Santa Claus, face it and grow up. You can’t keep getting stuff for nothing. The man in the red suit is broke, the elves went on strike and there are no goodies anymore.
I vote for the Steve Forbes solution. Let’s institute a flat tax. Take a look at his proposal and tell me it doesn’t make sense. Throw out the tax code and create a 17% tax across the board exempting poor families who make less than $36,000. It would be simple. No tax on Social Security, no tax on pensions, personal savings or capital gains. 17% flat and fair.
Why is this so difficult for Washington? Are they just gluttons for punishment? Do they like to argue and fight among themselves just to prove who has more power? I think I know the answer to that.
I’ve got an idea. Let’s vote in term limits and see how things change.
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Thursday April 17th, 2014 | John Ransom
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Wednesday April 16th, 2014 | John Ransom
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Thursday April 10th, 2014 | John Ransom