Biggest Tax increase in U.S. History

[ALS]

If Obama wins grab your wallet and hope you still have a job a year later.
Throw in four dollar plus gas and I suspect we will see above 9% unemployment in this country.

Senate Democrats Want Trillions in New Taxes

Monday, June 9, 2008 8:30 AM

By: Newsmax Staff

The spending plan approved by the Senate last week fails to extend President Bush’s tax cuts — and could lead to the largest tax increase in U.S. history.

“Make no mistake: This tax hike is gargantuan,” the Investor’s Business Daily states in an editorial.

“Simply by not making Bush’s tax cuts permanent, taxes will rise by a minimum of $2.8 trillion between now and 2018.”

The IBD says that if the tax cuts are allowed to expire in 2010:

Spending will rise by half a trillion dollars over the next five years. And the Democrats will pay for it by raising taxes by $683 billion — “the biggest such increase ever.”

About 48 million married couples — “the heart of the middle class that Democrats say they want to help” — will see an average annual tax increase of $3,007.

The tax bill for the elderly will rise $2,181 a year on average.

A single parent with two children earning $30,000 a year will see a tax hike of $1,600.

A family of four earning $50,000 a year will be hit with a tax increase of 191 percent.

The 2009 budget for the first time ever spends $1 trillion on discretionary items — non-defense, non-entitlement.

“This is a foretaste of future fiscal recklessness under a Barack Obama presidency (he voted for the bill),” the IBD observes.

Noting that the budget would weaken the economy and kill job growth, the IBD concludes: “This is supply-side economics in reverse — creating massive disincentives to work, save and invest, and shrinking the pie.”

[PocketProtector]

Yep "Change" ........ can't wait.

[LorDiego01]

Originally Posted by PocketProtector

Yep "Change" ........ can't wait.

"Change" is the only thing we are gonna be left with in our pockets.

[reels18]

We will get the government we deserve.

How many of us know friends, neighbors and relatives that do not bother to vote?

[PocketProtector]

Originally Posted by LorDiego01

"Change" is the only thing we are gonna be left with in our pockets.

Pesos maybe

[Pector55]

Change & Hope OMG.

"(Obama) voted against a bill that would add penalties for crimes committed as a part of gang activity and against a bill that would make it a criminal offense for accused gang members, free on bond or probation, to associate with other gang members. In 1999, he was the only state senator to oppose a bill that prohibited early prison release for criminal sexual offenders." -- Amanda Carpenter

"(Obama's) big themes are Change Hope and Unity...I suspect that after he's elected, we'll hear much less about Change and Unity and a lot more about Hope. As in, "I Hope this doesn't end in a huge disaster. I Hope he doesn't wreck the economy. I Hope he's not too overwhelmed by the complexity and horror of the world. I Hope I survive this administration." -- A reader at The Corner

"Obama is all style. No substance. He's all 'I want to send children to the moon,' and then when you ask how he says 'Hope.'" -- Dawn Summers

"After his victory last week in Wisconsin and again at the Austin debate, Obama revealed himself to be the most liberal candidate since George McGovern. He is not thrilled with building a border fence. He wants to meet with Raul Castro. He will raise taxes and spend a boatload of money on new programs. He will exit Iraq pronto and spend that money on domestic programs. He opposes any restriction on partial birth abortion and thinks the District of Columbia's total handgun ban is a "common sense" regulation." -- Jennifer Rubin

"Barack Obama will require you to work. He is going to demand that you shed your cynicism. That you put down your divisions. That you come out of your isolation, that you move out of your comfort zones. That you push yourselves to be better. And that you engage. Barack will never allow you to go back to your lives as usual, uninvolved, uninformed." -- Michelle Obama

"The truth is, in order to get things like universal health care and a revamped education system, then someone is going to have to give up a piece of their pie so that someone else can have more." -- Michelle Obama

"Just before Obama’s nationally televised campaign kickoff rally last Feb. 10, the candidate disinvited Wright from giving the public invocation. Wright explained: “When [Obama’s] enemies find out that in 1984 I went to Tripoli” to visit Col. Muammar el-Qaddafi with Nation of Islam leader Louis Farrakhan, “a lot of his Jewish support will dry up quicker than a snowball in hell.”

According to Wright, Obama then told him, “'You can get kind of rough in the sermons, so what we’ve decided is that it’s best for you not to be out there in public.'” But privately, Obama and his family prayed with Wright just before the presidential announcement." -- Ronald Kessler, Newsmax

"It was usually an effective tactic, another one of those tricks I had learned: (White) People were satisfied so long as you were courteous and smiled and made no sudden moves. They were more than satisfied, they were relieved -- such a pleasant surprise to find a well-mannered young black man who didn't seem angry all the time." -- Barack Obama

"I am not in favor of concealed weapons. I think that creates a potential atmosphere where more innocent people could (get shot during) altercations." -- Barack Obama

[WhiteFeather]

I fully Expect the LAME DUCK congress to pass a increase in federal gas taxes after Nov elections, with a voice vote.

Like the gas taxes are not enough right now.

[CarolinaGuy]

Originally Posted by reels18

We will get the government we deserve.

That's just it. Can't say the republicans ran a successful show. They had a full, complete run of it. And it sucked.

Since this nation's populace doesn't have the balls to incorporate a third party, we now get the "other" party.

Enjoy.