Obama Tax Increases on the Middle Class

Democrats Have Increased Taxes by $670 Billion and Counting information from before 2010 election

Commitee on Ways & Means Republicans Ranking Member Dave Camp Report from April 14th, 2010 Go here to download your own copy of the report

Information contained in the report follows:

List Includes 14 Tax Hikes Totaling Over $316 Billion on Middle Class Families
April 14, 2010

Since January of 2009, President Obama and Congressional Democrats have enacted into law gross tax increases totaling more than $670 billion, or more than $2,100 for every man, woman and child in the United States. The list of tax increases includes at least 14 violations of the President’s pledge not to raise taxes on Americans earning less than $200,000 for singles and $250,000 for married couples.

LEGISLATION: Health Care Bill, Public Law 111-148, Public Law 111-152

TAX INCREASES ENACTED   followed by AMOUNT IN BILLIONS OVER 10 YEARS

New tax on individuals who do not purchase government-approved health insurance * $17.0

New tax on employers who fail to fully comply with government health insurance mandates* $52.0

New 40% excise tax on certain high‐cost health plans * $32.0

New ban on the purchase of over‐the‐counter drugs using funds from FSAs, HSAs and HRAs* $5.0

Increase the Medicare tax on wages and self‐employment income by 0.9% and impose a new 3.8% surtax on certain investment income (for individuals over $200,000 and couples over $250,000) $210.2

Increase, from 7.5% to 10% of income, the threshold after which individuals can deduct out of pocket medical expenses* $15.2

Impose a new $2,500 annual cap on FSA contributions * $13.0

New annual tax on health insurance * $60.1

New annual tax on brand name pharmaceuticals * $27.0

New 2.3% excise tax on certain medical devices * $20.0

New 10% tax on indoor UV tanning services * $2.7

New tax on insured and self‐insured health plans * $2.6

Double the penalty for non‐qualified HSA distributions * $1.4

Eliminate the deduction for expenses allocable to Medicare Part D subsidy $4.5

Limit the deduction for compensation to officers, employees and directors of certain health insurance providers $0.6

Require information reporting on payments to corporations $17.1

Impose additional requirements for section 501(c)(3) hospitals $0.4

Make “black liquor” ineligible for cellulosic biofuel producer credit $23.6

Codify economic substance doctrine and impose penalties for underpayments $4.5

Other revenue effects $60.3

LEGISLATION: SCHIP Public Law 111-3; Tobacco tax increase and expanded enforcement authority* $65.515 billion

LEGISLATION: “Stimulus” Public Law 111-5; Repeal guidance allowing certain taxpayers to claim losses of an acquired corporation $6.977 billion

LEGISLATION: UI Benefits, NOL Relief & Homebuyer Credit Public Law 111-92; Federal Unemployment surtaxes extended through June 2011 * $2.578 billion & Delay of rules to reduce the double taxation of worldwide American employers until 2018 (worldwide interest allocation) $20.123 billion

LEGISLATION: HIRE Act Public Law 111-147; Delay of rules to reduce the double taxation of worldwide American employers until 2021 (worldwide interest allocation) $5.948 billion

TOTAL = $670.341 BILLION AND COUNTING…
*VIOLATES PRESIDENT’S PLEDGE TO NOT INCREASE TAXES ON MIDDLE CLASS

Another of a continuing series of articles on taxes by Tea Party Patriot and Proud Hobbit, Robert Davis, 2011

The Cheater in Chief

The Cheater in Chief,

Well, once again the catastrophe we were supposed to avoid by enacting, once again, one of Obama’s leftist policies caused the self same catastrophe. The Dow plunged 500+ points AND we lost our vaunted AAA credit rating. Timothy “tax cheat” Geithner
swore, that if we didn’t raise the debt ceiling that we’d lose the AAA rating. Sure enough just as has become the norm for the Obama administration. they said we’d lose the AAA rating if we didn’t raise the debt ceiling. They raise the ceiling, we lose the AAA rating and the stock market plunges.

The reason it seems like Geitner, and the whole of the Obama administration seem wholly unfit for the offices they occupy is because THEY ARE! They have cheated at everything all their lives, they’ve never had to measure up to the vaunted ideas they have of themselves and each other. All they have ever done is game the system, the people and the country. All in a quest to gain wealth and power for themselves and their cronies. Cronies like GE CEO and Obama Jobs Czar Jeffrey R. Immelt, who pays no taxes, gets stimulus money and then moves jobs over seas.

Everything they have ever done has been to agitate people in poor neighborhoods,who are too busy struggling to survive, to pay attention to the fact they are being played, and used by these same people. People who care for you only as long as you are useful to them. A good example is Cindy Sheehan, she has been protesting just as fiercely Obama’s war as she did Bushes, but do you ever hear of her anymore? No, she has been cast aside, just like so many other people used by the liberal/progressive/leftist/democrats through the years. She is just the latest and most glaring example of one of the “little” people they have used. Then you have people like Anthony “I can’t keep my hands off my junk” Weiner. Who as soon as he become a liability politically they dropped this rising star, as fast as he dropped his pants. Not that I feel sorry for Geitner, he’ll do all right, probably get a job at CNN alongside “client number nine” Eliot Spitzer.

I do though feel sorry somewhat for Cindy Sheehan and people like her, that have been used, then tossed aside by the Democrats, throughout the last dozen decades. Even more, I feel sorry for all the people who have had no hope for the same number of decades, because they believed the lies that people like Barack and his leftist cronies have told them, again for decades. Then they have voted the liars into office, only to have their lives destroyed even more, because the liars never worked on anything in their lives, other than how to cheat the next group of victims they wish to exploit. They have never worked a real job in their lives, they have only worked at theories in universities or politics. So it matters little to them, that once again they caused the catastrophe they promised we’d avoid, if we only compromised again, with them. They have never had to face up to the results and consequences for their actions. They’re always too busy looking for the next group of “victims” they can help.

Once again also, the spineless GOP proved their weakness by not standing with US in the Tea Party, thereby they helped create another mess, the Tea Party is going to left in 2012 to clean up, after we kick them, and this administration to the curb, just as they have done to us, so many times in the past. GOP complicity, complacency, capitulation
or compromise, it REALLY doesn’t matter which. The leadership of the GOP has shown they are unwilling to tackle the tough issues, nor willing to fight the good fight on behalf of We the American people.

I say then that it is time we primary Tea Party candidates against them all, both GOP and Democrat, and throw the bums out on their ears. They have been filling our ears with lies for so long, that it seems like poetic justice to me. We are fed-up with the FED and it is time for. we the people to have our anger and hunger fed by getting rid of the lying, cheating, compromising politicians in Washington, once and for all. Not only to get rid of them, but defeat them in such an all consuming way, that they do not soon forget in Washington what we the people can do when we get fed-up with the games of the FED in DC.