Tax ‘em ‘till They Drop

Tax ‘em ‘till They Drop
7/26/10


Tax ‘em ‘till They Drop – that’s precisely the plan of the Obama regime.

Why?

Because it serves several purposes.

Obviously it’s to redistribute wealth, they pretty much openly come out and say that, but they’re not Socialists, yeah, uh huh.

During his campaign, Mr. Obama promised no tax increases for people earning under $250,000 per year. Now, even many Democrats are standing up and saying they want to extend the Bush tax cuts, needless to say, the GOP is unanimously behind that. That simply won’t happen under this Administration, whose core belief is to penalize the rich for the benefit of everyone else.

Just about everyone agrees, increasing taxes during a weak and weakening economy is a recipe for financial disaster. But like the now irrelevant Congress, nothing matters in a government "Of, For and By Obama".

Next, we have the impending Value Added Tax (VAT). The VAT is an “indirect tax” because it is a tax based on spending / consumption. In the UK, it’s currently up to 17.5% on just about all purchases. This is a tax on everybody on almost every purchase they make, including vastly higher energy costs (if Cap & Trade eventually passes). All that, combined with impending inflation, translates into: higher prices resulting in higher VAT tax revenues.

Don’t forget, this VAT will be in addition to the already increased income and capital gains tax.

But, wait, the government is going to refund some of that VAT tax to everyone earning less than $250,000 per year. Yeah, that will be easy – it will only require tens of thousands of extra highly paid federal government workers / administrators (salaries compliments of the US taxpayer). It will most definitely create an administrative nightmare and will serve to vastly increase the degree of government’s control and power over the people – just what the Socialistic doctor ordered.

Okay, so now, the Obama regime will raise income and capital gains taxes, implement the VAT tax and collect a whole lot of tax revenue. Oh, and when (not if) there’s inflation (which there will be – discussed below), the prices of all consumption items will obviously rise, hence more VAT tax revenue.

Then we have the reinstatement of the Estate tax (aka “Death tax”). Nothing is certain but death and paying taxes after death. To see what a chunk it taxes of one’s estate, look at the Steinbrenner example. Had the owner of the New York Yankees not died this year, his family would have owed the government an additional $500 million in Estate tax!

Here’s another new one: It has recently come out that the government is planning to impose a tax (penalty fee) on parents who allow their children to get too heavy if the children’s height to weight ratio (BMI / Body Mass Index) exceeds the established federal government standards. No, we’re not being turned into a “police state”, right???

But, you say, the federal government will use all that extra tax revenue to pay down the national debt. That’s a good one – the federal government has no intention of paying off our national debt.

Do you actually think that’s what this spendaholic federal government is going to do with the all that extra money, of course not. They will simply create more entitlement programs (increasing public dependence on the government / Socialist control), and what they can’t give away with entitlements, they’ll build bridges and highways that go nowhere (lined with $10,000 a piece roadside signs), test the effect of cocaine on caterpillars, see what diets work best for house cats, study the mating habits of the Tanzanian Wildabeast, etc. You know exactly what I’m referring to – they’ll probably appoint a new federal government commission to brainstorm on more absurd ways to waste our tax dollars.

This all will serve to increase our mountainous national debt. Do you see where this is heading?

Many of the financial commentators on TV are now saying that this Administration has no idea how the economy works or what’s good for it. They go on to say the Administration doesn’t know what it’s doing – that’s where I beg to differ – they know exactly what they’re doing! They are trying to kill the American way of life – plain and simple.

The main man that controls Obama and his Administration, George Soros, told Australia 's national newspaper The Australian, "America , as the center of the globalized financial markets, is sucking up the savings of the world. This is now over. The game is out," he said, adding that the time has come for "a very serious adjustment" in American's consumption habits. He implied that he was the one with the power to bring this about." He concluded with saying: "World financial crisis is "stimulating" and "in a way, the culmination of my life's work."

The only solution to eliminate a debt we could in no way ever pay off is to inflate the debt, making money worth less / worthless. What can the people use as a store of value – you guessed it – gold. Oh, did you know that the government health care reform law contains a clause buried deep in the bowels of this law, which requires a tax on gold and silver? I bet you didn’t – wondering why a tax on gold and silver is contained / hidden in a health care reform law – I am. Maybe that’s one of the many reasons the Administration claims they had not read the bill before it was passed into law – they didn’t want subtle (and irrelevant) tidbits like this coming to light before the bill was passed.

Back to the actual size of the Federal Debt:
Officially recognized national debt - $13.2 trillion
Unfunded national obligations of Medicare, Social Security, and government pensions - $108 trillion
US Federal deficit - $1.6 trillion
Cumulative deficits over the next ten years - $9 trillion
Debt owed to foreign investors - $3.5 trillion
Health Care Reform Law - $1 trillion (minimum – probably considerably more when it’s all said and done).
Grand Total: $136 Trillion!!!

If the US paid $100 million per day, starting today, it would take more than 3,450 years before the total government debts and obligations are paid off!

Oh, but the main stream media never mentions that – another surprise.

Back to extending the Bush tax cuts - the Obama Administration can’t have that:
Wealthier people create jobs – jobs improve the economy and generate cash from productivity (not borrowing or printing) – cash can be used to pay down the unbelievably huge national debt – thus again helping the US and global economy. To quote a former president: “Not gonna happen”.

Tax and Spend has never worked – ever – anywhere. It’s not going to work now. Increased income and capital gains taxes, a Value Added Tax combined with impending huge inflation (which will make the Great Inflation of the mid 1970’s to the early 1980’s look like a “day at the beach”) and a declining economy coupled with increasing unemployment is a sure recipe to bring America to it’s knees!

If you don’t think that that is the Obama Administration’s intention, think again!

To expand on the inevitable approaching inflation that our nation is going to see, look back at The Great Inflation’s worst period (1976 – 1981) when the Monetary Base increased by 13% annually, which, when compounded, came to 71% over that 5 year period!

Today, the inflation picture is much worse in terms of magnitude. Not only have we built up massive deficits (partially because of the wars in Iraq and Afghanistan), but we are attempting to recover from the worst financial crisis in history. The US has, within the last decade, flipped from AAA-rated lenders to sub-prime borrowers.

Again, all of this planned economic destruction of the United States is now coming to the surface and the American public is waking up – just in time, I might add.

Initially, it was only a handful of us that saw this coming – now many, many more Americans (Republicans, Independents and even many Democrats) are observing what is being thrust upon our great country and we will not and cannot allow it.

We must, as Americans that love our great country, stomp down the attempted Socialist takeover of our country like one would stomp down a fire that very well could rage out of control if not stopped. The mid-terms on November 2, 2010 really is our last and only chance!


We will not fall divided, because United We Stand!