The Democrats are in a lot of trouble. They've made a lot of promises and so far it's looking like they're slowing backing out of all of them. Obama is quickly looking like he'll be a one term president. Don't get me wrong I'm not excessively happy about that because that will likely mean the Republicans will pick up the presidency in 2012 and in 2010 might get some seats in Congress back. Right now I don't see how either party is really in it for WE THE PEOPLE. However, I do think we should be happy to see Obama, Pelosi and Reed go home if possible. I've not been very impressed with the Republicans but the damage that those three are planning on doing to us is by far worse than anything Bush ever did. At this point based on recent events I feel it save to call them LIARS.
They need to raise taxes on the middle class when they promised not to. Many of these taxes come in a hidden form. Two examples of hidden tax hikes on middle America are Cap and Trade, CAFE standards.
Cap and Trade is expected to raise the cost of the average American electric bill by $1400.00 a year. All companies with factories will also have to raise the costs of their products to cover the added costs of high electric bills but also the Carbon Tax which they too will need to pay for their Carbon footprint.
The CAFE standards aren't initally evident to most people I talk to as a tax on them. However, when you consider that the Obama admin now OWNS a portion of Chrysler and GM it begins to become obvious. Why the Obama admin would reduce the time frame from the Bush plan of a 35.5 m/g car from 2020 to 2016? Increasing fuel efficiency increases the cost of the car. Increasing the cost of the car means that the amount of money the government gets from the sale of every car goes up. I know you're thinking WHAT DID HE JUST SAY?! It's simple math though really. As the government OWNS shares of the car companies they get a percentage of the sales via dividend checks. So the more money into the company the more money the government gets. It's expected that the CAFE standards will raise the cost of cars by a minimum of $1300.00. If you buy a Chrysler and the cost of that car is $1300.00 more expensive next year than this year $104.00 goes to the government. The government OWNS 8% of Chrysler.
With their health care plan they anticipate putting the government in direct competition with the private health insurance companies. Apart from this being destructive to the economy they are essentially going to raise your taxes to pay for this plan and in addition to paying higher taxes you'll need to find the money to pay for their plan. You the hard working American will need to pay for those that can't pay for their own insurance via higher taxes. Then in addition the government will require you to have a health insurance plan. So you'll either have to buy from the government plan or from a private plan. We all know that the government plan will be cheaper than the private plan because they have the advantage of raising your taxes to cover their shortfalls or they can just operate on deficient spending like all other government programs. If private insurance companies tried that they'd go out of business. So here once again Obama lied. He will raise your taxes he just won't call it a tax raise. To me I personally view any increased cash flow to the government a tax raise. Call me crazy.
Then there is the expiration of the Bush tax cuts next year. Maybe you didn't get a big tax cut. However, a cut is still a cut. Next year when the Bush tax plan expires that cut will vanish effectively raising your taxes to the levels prior to the Bush plan. So the Dems haven't created a new tax plan they just wait out the cut to expire thereby raising your taxes.
This is just the tip of the iceberg. There are many other point to discuss which I'll get into next week. I think it's save to say that on taxes Obama and the other Dems lied. Middle America is going to be paying higher taxes under their watch.
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