Here come the middle class tax increases.....

http://www.breitbart.com/article.php?id ... _article=1

Hoyer: Permanent middle class tax cuts too costly

WASHINGTON (AP) - House Majority Leader Steny Hoyer said Tuesday that tax increases will eventually be necessary to address the nation's mounting debt, raising a difficult election-year issue as Democrats fight retain control of Congress.

And so it begins.......

Obama's most strong promise is about to be broken. Anyone with an IQ over 100 knew they were coming and didn't believe all his campaign promises. But over 53% still voted for all his promises that there was no way he could keep.

He has now completed the Liberal motto. Spend more than any President in history and now he will have to raise taxes on everyone to pay for it. "Tax and Spend"! Way to go 53% who voted for this! It isn't on my conscience. Just in my pocket. So thank you for more spending than all other Presidents in history combined. A larger debt and deficit than all other Presidents in history comined. High unemployment. Scaring more jobs overseas. Much higher taxes coming. Higher healthcare premiums. And coming soon, very high inflation. Not to mention he is considered a joke to most nations now. There are stories every week about how other world leaders don't think he is fit to be President.

Oh, and on the Liberal promise side. How is that bringing home all troops from Iraq working for you? And how about that promise he made to you abour closing Guantanamo? I think that is going to be here for a while. He hasn't held up to one sigle promise that I can think of. I can't believe people still drive around with Obama bumper stickers!!

At least he will wait until after the November elections. He doesn't want to lose more seats than he has to.

SS109 wrote: At least he will wait until after the November elections. He doesn't want to lose more seats than he has to.

But if they don't extend the lower and middle class tax cuts by election time. The Republicans will be running on that issue huge! They will say that if they don't vote in Republicans, the Democrat will increase all of your taxes which will be the case. They are stuck now. this may just cost them the House.

The Viking wrote: He hasn't held up to one sigle promise that I can think of. I can't believe people still drive around with Obama bumper stickers!!

http://www.politifact.com/truth-o-meter/promises/

Wayne Harrison wrote:

The Viking wrote: He hasn't held up to one sigle promise that I can think of. I can't believe people still drive around with Obama bumper stickers!!

http://www.politifact.com/truth-o-meter/promises/

So what do you think about the fact that they are going to have to raise everyone's income taxes when that was his main campaign promise that he swore that they wouldn't be raised even $1. And that is one of the reasons so many voted for him. It was all based upon a lie.

I read an article that Obama's plan of letting just the top 2 income tax rates revert to pre-Bush levels (39%) would raise only an average of just under $100B/yr - a small fraction of the $1.4 Trillion deficit. http://www.usatoday.com/news/washington ... -tax_N.htm

So that pretty much shoots down the theory that the "tax cuts for the wealthy" were responsible for the whole deficit.

This year for the first time ever I think, both Medicare and SS are cash flow negative, more going out than coming in.

Folks, we are in deep doo doo this time. They are starting to realize it, or at least starting to let out the bad news. The deficit numbers going forward are huge. I honestly don't see a way out of it in our political climate. Mathematically I don't think you can raise enough revenue with taxes without diminishing returns of a slower economy.

More surprising is that the stock and bond market are not worried yet, but I bet that will change by this fall, buckle up!

This is where inflation comes in. When money is worth half as much - the value of the deficit is cut in half. Inflation is known as the stealth tax.

Daisy, you mean the value of the debt is reduced. Inflation will drive Medicare and SS and interest up and keep the deficit going.

deficit - annual short fall
debt - total accumulated borrowing over the years.

I'm sure you know that but many readers might not.

The Viking wrote: He has now completed the Liberal motto. Spend more than any President in history and now he will have to raise taxes on everyone to pay for it. "Tax and Spend"! Way to go 53% who voted for this!

You're almost right... but you've got it backwards on this one!

It's not "Tax and Spend!" it's "Spend, then tax!"

:VeryScared:

RCCL wrote:

The Viking wrote: He has now completed the Liberal motto. Spend more than any President in history and now he will have to raise taxes on everyone to pay for it. "Tax and Spend"! Way to go 53% who voted for this!

You're almost right... but you've got it backwards on this one!

It's not "Tax and Spend!" it's "Spend, then tax!"

:VeryScared:

It's all a vicious circle. Soon it all blends to gether and you don't know which came first. spend, tax, spend, tax, spend, tax, spend, tax........ I know you need to throw lie in there somewhere too