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Tax time is coming in
the US as with most of the world and the US
Government is stealing as much as they can
everyway they can while at the same time
lining their own pockets as a hedge
against the tax increases.
To add to the melee of taxes, two
top Democrats say they want to impose a
new tax on the wealthy to finance any
increase in U.S. troops for the
Afghanistan war.
Rep. David
Obey, D-Wis. (whom after November we
assume will need to be looking for a new
job), chairman of the purse
string-controlling House Appropriations
Committee, is calling the idea a
"war
surtax" He said that just as the
federal government is expected to pay for
its proposed intervention in the health
care sector with new taxes (wait a
minute, I could swear they said there
would be no tax increase needed for
health care - liars) , any escalated
involvement in Afghanistan should come
with a payment plan.
Sen. Carl
Levin, chairman of the Senate Armed
Services Committee, is making a similar
demand - he also needs to be sent packing
in November.
Rep. Obey
and Sen. Levin, I believe it would be
more popular with the majority of tax
paying citizens to see all of you in The
House and Senate to take a Pay Cut. As a
matter of fact you should have to pay for
your web sites too and be on the same
health care & social security system
that you have us on. Sounds like a great
proposal to me and I am sure many others
willing to watch you Government Parasites
take a hit for a change. Wouldn't that be
nice?
Next Year could be a Tax nightmare
because some
113 tax cuts and provisions from the
early days of the Bush administration are
set to expire by the end of this year,
and the outcome is clear: if
you're married, have kids, earn an
income, or run a small business, your
taxes are going up a lot.
Income taxes for those who make over
$250,000 are likely to skyrocket, pushing
the top rate to 45% or more.
Taxes on dividends could jump from 15% to
your income tax rate... the largest
increase in dividend taxes in history.
The capital gain rate is likely to be
increased to 20%, and the estate tax will
likely be reinstated at 45%.
Last but
not least, one of the dumbest new taxes
we have ever heard of .....
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The sky isn't
falling, exactly. America isn't on a fast
track to irrelevance. Even in a state of
total neglect, we could probably shamble
along as a disheveled superpower for a few
more decades.
But all empires end, and the warning
signs of American decline seem to be
blinking more consistently. In the latest
annual "prosperity index"
published by the Legatum
Institute, a London-based research
firm, the United States ranks as the
ninth most prosperous country in the
world. That's five notches
lower than last year, when America
ranked No. 4. The drop might seem
inconsequential, especially in the midst
of a grueling recession—except that most
of the world has endured the same
recession, and other countries are
bouncing back faster.
9 Signs of America in
decline
Even
with all these signs, few Americans
including the idiots in power in
Washington, know the root cause of our
crisis.
Though the root cause is beyond the scope
of this newsletter, we believe Financier
Porter Stanberry explains it extremely
well:
Why the US is on the road to financial
disaster
Why the US is on the road to financial
disaster Part II
Now of
course the idiots in Washington want
again to try a so called Stimulus Package
costing the taxpayers more money and
further increasing the
debt.
In all
of history, regardless of the country,
Stimulus plans have NEVER worked, but yet
they want to do it
again.
Do you
remember what Obama claimed? If the
Stimulus was passed unemployment would
not exceed 8.9%, well it has been well
above 10% for some time now and not
looking much brighter for the near
future.
Obama's
Stimulus Did Nothing to Create
Jobs
Ten
months into President Barack Obama's
first economic stimulus (economic
scamulus and payoffs is more like it)
plan, a surge in spending on roads and
bridges has had no effect on local
unemployment and only barely helped the
beleaguered construction industry, an
Associated Press analysis has
found.
We
contend that
Obama is actually destroying jobs
like he is destroying the rest of
America.
Spend a lot or spend nothing at all, it
didn't matter, the AP analysis showed:
Local unemployment rates rose and fell
regardless of how much stimulus money
Washington poured out for transportation,
raising questions about Obama's argument
that more road money would address an
"urgent need to accelerate job
growth."
Click
more below for more details concerning
Stimulus
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It is simply both
incredible and disgusting the ways
Washington comes up with stealing your
money and those that have not even been
born.
We will
start with the unexpected Christmas
present from the Obama Administration for
Fannie and Freddie: an executive order,
issued in the dark of the night, when
everyone was tucked into bed and dreaming
of gingerbread and Playstations. The
Treasury announced they were eliminating
the $400 billion limit available to these
two entities – in essence giving them
license to fritter away as much money as
they want while the American people (and
their grandchildren) pick up the tab.
Obama can call it what he wants, but it
is criminal in the very least.
A Very Green Christmas for Fannie and
Freddie
Next we have Geithner’s Fed Told
AIG to Limit Swaps Disclosure -
Bloomberg unearths more details on the
nauseating bailout of AIG and the
100-cents-on-the-dollar payouts to
Goldman, et al.
Once again, Tim Geithner was in
charge.
Geithner
will probably say he ordered AIG to
conceal the details of the bailout to
save the world. (This seems to be the
generic excuse for everything that
happened in the fall of 2008).
We suspect there was another reason
.....
Tim Geithner engaged in blatant AIG cover
up
Last but
certainly not least, the Government wants
to teal your retirement savings.
As a rule
of thumb, the worst possible time to
convert lump sum savings into a fixed
income annuity would be when interest
rates are historically low.
Although products may vary, this is
roughly equivalent to buying long term
bonds at a time when interest rates are
likely to increase, substantially
reducing your principal in real terms,
and eroding your fixed returns through
inflation.
For some reason the Obama Administration
is promoting the idea now that there
should be some encouragement for
Americans to start converting their
401K's and IRA's into annuities, to
provide themselves with lifetime
income.
The effort
is being spear-headed by Mark Iwry of the
Treasury and Phyllis Borzi of the
Department of Labor.
Click
more below to view the
entire article "Retirement horror: Obama
wants to take over your 401k's and
IRA's"
Wonder why
it is predicted that there will be a
"Stunning wave" of Democrat losses
ahead ... not!
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