Obama’s Spend And Tax Plan
Moving America To Socialism
There has been one underlying theme to all of socialist Barack Hussein Obama’s spending. Spend America into oblivion and higher taxes. Obama needs to do this to reach his goal of making America another 3rd world socialist country. Since Obama took office the percent of GDP spent by government has grown from 30% to 36%. That is an astonishing growth of 6% in 16 months.
At a recent town hall meeting with President Obama, a woman named Doris from Lake Wylie, South Carolina stood and asked a simple question. She asked Obama, given the current economic crisis, “is it a wise decision to add more taxes to us with the health care bill? Because we are over-taxed as it is.”
Obama didn’t seem to like the question. He took 17 minutes to respond, and by all accounts he failed to give her a straight answer. The President did tell Doris that, “this is an area where there has been a whole lot of misinformation.” Yet it seems the biggest source of “misinformation” is President Obama’s attempt to hide from his new tax increase.
The straight forward honest answer to that question is NO. It is NOT a wise decision to add more taxes. And yes, we are over-taxed as it is. Here are the straightforward facts.
The Obama/Reid/Pelosi health care bill contains a massive $569.2 BILLION tax increase.
The Obama/Reid/Pelosi health care bill collects $60 billion in new taxes BEFORE any major benefits of the bill begin in 2014.
Among the tax increases contained in the bill:
Taxes on individuals who can’t afford or don’t purchase insurance.
Excise taxes on existing health insurance plans. This tax will overwhelmingly impact middle-class Americans.
Taxes for hiring workers. These taxes will be levied on some companies employing as few as 50 workers.
New taxes on investment income. This tax could further slow our economic recovery.
New taxes and fees on medical devices—a cost which will be passed on to patients.
Obama keeps spending and spending. Now that he has the country hobbled with a $12+ trillion debt he and the Democrats say we must increase taxes. Not one word about reducing the deficit that he has deliberately grown. This has been the goal since the beginning.
Socialism is not an epithet or even an economic philosophy. Whether a nation is socialist or not is determined by a single, simple statistic -- what percent of the economy (GDP) goes to the public sector? When Obama took office, the U.S. public sector (federal, state, and local) spent about 30% of GDP. Now it is 36%. If Obamacare lives to be fully implemented, it will pass 40%.
When interest rates rise to 7%-8% - as they must now that the Treasury cannot just borrow newly printed money but must get real loans from real lenders to finance its deficit - the burden will grow to close to $1 trillion, about a quarter of our budget. Put differently, the entire take of personal income taxes in the United States comes to about $900 billion. All of it will go to debt service.
Obama has been expecting this outcome all along. It is how he will achieve socialism in the United States. He will use the pressure his deficit creates to force higher taxes that will permanently expand the public sector.
Once a spending increase is matched by a tax increase, it lasts forever. That is how Obama plans to move the government's share of the GDP permanently over 40% -- into socialist territory.
America Election 2010 is the most important ever for our country and for our children. We must stop the carnage Obama and the Democrats are fostering on our great country.
Comment here and email us at YourVoice@speaknowconservatives.org.
America do you need a place to vent about the direction our government is taking? Go to MomsAndDadsBeHeard a forum for you to speak out. Help us and be part of bringing our Great country back.
You might also like to read this article: Senate Cap And Trade Bill As Corrupt as Obamacare
There has been one underlying theme to all of socialist Barack Hussein Obama’s spending. Spend America into oblivion and higher taxes. Obama needs to do this to reach his goal of making America another 3rd world socialist country. Since Obama took office the percent of GDP spent by government has grown from 30% to 36%. That is an astonishing growth of 6% in 16 months.
At a recent town hall meeting with President Obama, a woman named Doris from Lake Wylie, South Carolina stood and asked a simple question. She asked Obama, given the current economic crisis, “is it a wise decision to add more taxes to us with the health care bill? Because we are over-taxed as it is.”
Obama didn’t seem to like the question. He took 17 minutes to respond, and by all accounts he failed to give her a straight answer. The President did tell Doris that, “this is an area where there has been a whole lot of misinformation.” Yet it seems the biggest source of “misinformation” is President Obama’s attempt to hide from his new tax increase.
The straight forward honest answer to that question is NO. It is NOT a wise decision to add more taxes. And yes, we are over-taxed as it is. Here are the straightforward facts.
The Obama/Reid/Pelosi health care bill contains a massive $569.2 BILLION tax increase.
The Obama/Reid/Pelosi health care bill collects $60 billion in new taxes BEFORE any major benefits of the bill begin in 2014.
Among the tax increases contained in the bill:
Taxes on individuals who can’t afford or don’t purchase insurance.
Excise taxes on existing health insurance plans. This tax will overwhelmingly impact middle-class Americans.
Taxes for hiring workers. These taxes will be levied on some companies employing as few as 50 workers.
New taxes on investment income. This tax could further slow our economic recovery.
New taxes and fees on medical devices—a cost which will be passed on to patients.
Obama keeps spending and spending. Now that he has the country hobbled with a $12+ trillion debt he and the Democrats say we must increase taxes. Not one word about reducing the deficit that he has deliberately grown. This has been the goal since the beginning.
Socialism is not an epithet or even an economic philosophy. Whether a nation is socialist or not is determined by a single, simple statistic -- what percent of the economy (GDP) goes to the public sector? When Obama took office, the U.S. public sector (federal, state, and local) spent about 30% of GDP. Now it is 36%. If Obamacare lives to be fully implemented, it will pass 40%.
When interest rates rise to 7%-8% - as they must now that the Treasury cannot just borrow newly printed money but must get real loans from real lenders to finance its deficit - the burden will grow to close to $1 trillion, about a quarter of our budget. Put differently, the entire take of personal income taxes in the United States comes to about $900 billion. All of it will go to debt service.
Obama has been expecting this outcome all along. It is how he will achieve socialism in the United States. He will use the pressure his deficit creates to force higher taxes that will permanently expand the public sector.
Once a spending increase is matched by a tax increase, it lasts forever. That is how Obama plans to move the government's share of the GDP permanently over 40% -- into socialist territory.
America Election 2010 is the most important ever for our country and for our children. We must stop the carnage Obama and the Democrats are fostering on our great country.
Comment here and email us at YourVoice@speaknowconservatives.org.
America do you need a place to vent about the direction our government is taking? Go to MomsAndDadsBeHeard a forum for you to speak out. Help us and be part of bringing our Great country back.
You might also like to read this article: Senate Cap And Trade Bill As Corrupt as Obamacare
Posted by JTDCON2009 at 4/21/2010 2:23 AM 
Categories: uncategorized
Tags: Obama Obama.tax taxes socialist Pelosi GDP Obamacare Reid
Categories: uncategorized
Tags: Obama Obama.tax taxes socialist Pelosi GDP Obamacare Reid
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