Tag: taxes

Trump Announces That He is Leaving New York City for Palm Beach…After Leaving the White House…in Five Years

On By kingsjesterIn Politics1 Comment

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Last night, the 45th President of the United States of America, after another long day of being attacked by the sore losers of the Democratic Party, announced the following decision on Twitter.

The President is not the first wealthy person to leave the Liberal State of New York and Far Left Liberal New York City due to the high tax rate and the downright hatred of Conservatives.

The Godfather of Conservative Talk Radio, Rush Limbaugh, got the heck out of there years ago, he himself also moving to the Palm Beach, Florida Area, building a beautiful home and radio studio complex in West Palm Beach.

Ever since Trump announced that he was seeking to be the Republican Nominee as their Presidential Candidate, the Liberal Hoi Polloi, the New York City Media, and the New Bolsheviks as well, began treating the man who had done so much for the city of New York, like people in the time of Christ treated Lepers.

“Unclean! Unclean!”

Just as Americans are witnessing daily regarding the Soviet-Style secret meetings being held by Rep. Adam Schiff and the House Democrats in their desperation to find something, ANYTHING, that will give them cause to formally Impeach President Trump, so are Americans living in the Heartland struck dumbfounded by the mindless obsessive hatred and self-righteous arrogance being shown by the opposition party politicians and their fellow travelers toward this American President who has accomplished more in 3 years than any president since Ronald Reagan.

It’s one thing not to like losing, I know that I never have.

However, to wish doom, death, and personal destruction on a man who has put more money in your pocket and provided more job opportunities to your family, while making Americans safer, makes about as much sense as setting your hair on fire and putting it out with a hammer.

I guess Liberal Democrats became used to bullying a President when “Dubya” was in office.

Trump will not be bullied or cowed.

I, for one, do not blame the President for leaving the nest of vipers that has grown exponentially all the way from Albany to a city that has affectionately been known in the past as “The Big Apple”.

I mean, once worms burrow their way into an apple, it becomes too rotten to stomach, doesn’t it?

Until He Comes,

KJ

The MSNBC Trump Tax Debacle: “Be Careful What You Wish For…”

On By kingsjesterIn PoliticsLeave a comment

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As you know, gentle readers, the Main Stream Media, like the rest of their Modern American Liberal Brothers and Sisters, are willing participants in the never-ending National Temper Tantrum being thrown over the election of Donald J. Trump as the 45th President by us rubes here in Flyover Country. In fact, they are so upset that they have abandoned any pretense of objectivity, publishing stories about Trump and his Administration, that have all of the veracity of a “Batboy” Article published in the Weekly World News, which used to be available at the checkout lane of the grocery store, but has now morphed into a website.

The Main Stream Media not only lost their meal ticket with the defeat of the Queen of Mean, Hillary Clinton, but now, they also have to face the reality of being “punked” for at least four years by Donald J. Trump, who has been treating them like a school of Largemouth Bass, baiting the hook with the promise of a big announcement or story, causing them to pack the room wherever Trump is speaking, only to find out that they have been used to gain free publicity for Mr. Trump and whatever cause he is trying to forward that day.

In fact, Trump has made the Media look tremendously naïve and stupid on several occasions, in scenes reminiscent of Lucy Van Pelt promising to hold the football for Charlie Brown to kick, only to pull it away at the last minute leaving a helpless Charlie Brown to wipe out, tumbling head over heels.

The Main Stream Media are no longer in control of the dissemination of the news…and they know it.

Between Trump’s playing them like Charlie Daniels playing a fiddle and average Americans becoming their own reporters through the use of Social Media, “professional journalists” have watched their influence over the daily lives of Americans dwindle and diminish right before their very eyes.

And, quite frankly, they don’t like it one bit.

In fact, they will do anything and everything they can, legal and illegal, in their quest to get Trump out of the White House.

Case in point:

The Associated Press reported last night that

The White House said Tuesday that President Donald Trump made more than $150 million in income in 2005 and paid $38 million in income taxes that year.The acknowledgement came shortly before MSNBC host Rachel Maddow reported on two pages of Trump’s 2005 tax forms on her Tuesday night show.

The records were obtained by Pulitzer prize-winning journalist David Cay Johnston, who said he received the documented unsolicited, in the mail.

The documents have become highly sought-after because Trump refused to release his returns during the campaign, breaking a decades-long tradition. He claimed he was under audit by the Internal Revenue Service and said his attorneys had advised against it – though experts and IRS officials said such audits don’t bar taxpayers from releasing their returns.

The White House pushed back pre-emptively Tuesday night, saying that publishing those returns would be illegal.

“You know you are desperate for ratings when you are willing to violate the law to push a story about two pages of tax returns from over a decade ago,” the White House said in a statement.

The unauthorized release or publishing of federal tax returns is a criminal offense, punishable by a fine of up to $5,000 and up to five years in jail. But Maddow argued that MSNBC was exercising its First Amendment right to publish information in the public interest.

Based on the documents obtained by Johnston, Trump paid $36.5 million in taxes on $153 million in income, for an effective tax rate of around 24 percent. That percentage is higher than the roughly 10 percent the average American pays each year – but below the 27.4 percent that taxpayers earning 1 million dollars a year average, according to data from the Congressional Joint Committee on Taxation.

Trump long insisted the American public wasn’t interested in his returns and said little could be learned from them. But Trump’s full returns would contain key details about things like his charitable giving, his income sources, the type of deductions he claimed, how much he earned from his assets and what strategies Trump used to reduce his tax bill.

The issue was a major point of attack from his election rival Hillary Clinton, who suggested Trump had something to hide.

The White House has not said whether or not the president plans to release his returns while he’s in office. More than 1 million people have signed a White House petition urging the president to release them.

Can’t you just see all of the Diehard Hillary Fans and the Internet Trolls lined up in front of their televisions last night, waiting on the “intrepid journalist” Rachel Maddow to “lay the smackdown” on President Trump and somehow usher in “the reign of Queen Hillary”?

Can you imagine the how disappointed they all were when they found out that Maddow’s “exclusive” was a big “nothing burger”?

As Drudge pointed out last night, Trump (25%) actually paid more in 2005 than MSNBC Comcast (24%) and Former President Barack Hussein Obama (19%).

MSNBC’s scheme to “get” President Trump backfired spectacularly.

And, Maddow was left looking like the fool that she is.

Americans are now living in a time when the Main Stream Media’s blatant propaganda is no longer believed at face value, as the evidence which refutes it is appearing in the live videos and photographs being shared on Facebook and other Social Media.

Average Americans are winning the war against the “New Fascism” of the Tyranny of the Minority by the sharing of information through Social Media.

The Modern American Liberals od the Main Stream Media still just don’t get it.

I predicted a long time ago that their hubris would be their downfall.

By becoming activists, instead of journalists, they are a part of the 24% who identify themselves as “Liberals”, referred to as the “Hive-mind”, because most of the time, they present themselves in public and on the internet, including Facebook Political Pages, as being in lockstep with one another, regurgitating “the Party Line”, about each and every Hot Button Political Issue, resembling the brainwashed Proletariat of the old Soviet Union.

The MSM traded their integrity for a seat in the back of Air Force One in return for helping Hillary win the Presidency.

And now, in an attempt to make up for their part in the Democratic Party Failure of November 8th, 2016, they have joined in with the rest of the sore losers in a massive attempt to bring the 45th President of the United States of American down…by any means necessary.

Fortunately for the American People, who put Trump in office in a fair election…

The sore losers are still a bunch of failures.

Until He Comes,

KJ

Obama Proposing to Tax the 1%…Again.

On By kingsjesterIn PoliticsLeave a comment

Obama-Shrinks-2In The Communist Manifesto, Karl Marx theorized that a social class is formed when its members achieve class consciousness and solidarity. This happens when those who make up the social class decide that they are being used and abused by those who hold power over them, by means of money or station in life.  That is when the class conflict, or class warfare begins.

That social class will then bond together over their shared interests and form a common identity.

Per Marx, that lower or working class (the Proletariat) will then rise up against those that are exploiting them (the bourgeoisie).

In Marxist theory, the stage after the proletarian revolution when a society is changing from capitalism to communism, marked by pay distributed according to work done rather than need, is called socialism.

Norman Mattoon Thomas, six-time Socialist candidate for president, said the following in a 1944 speech:

The American people will never knowingly adopt Socialism. But, under the name of “liberalism,” they will adopt every fragment of the Socialist program, until one day America will be a Socialist nation without knowing how it happened … The Democratic Party has adopted our (Socialist) platform.

With the support of a once-noble political party that has been taken over by Far Left Radicals, and a once-objective Fourth Estate, which has morphed into a government-backed propaganda arm, flooding television, radio, internet, and print sources with Obama worship, misinformation, and downright lies, about both the Lightbringer’s accomplishments and anyone who dares to oppose him (ask Sarah Palin…and Mitt Romney), that the shear audacity of it all would make Goebbels blush, Obama has been on a mission to turn “the Shining City on a Hill” into a third-world barrio, and the transformation of the Greatest Country in the World into just another Democratic Socialist nation, such as can be found in Europe.

However, there may be hope that the brakes will be put on Obama’s Crazy Train.

Foxnews.com reports that

Congressional Republicans on Sunday pummeled President Obama’s plan to increase taxes on America’s highest wage earners, dismissing the proposal as not serious and a “non-starter.”

The plan was released late Saturday by the White House and attempts to increase taxes on the top earners and others to pay for cuts for the middle class.

The president is scheduled to further explain the plan on Tuesday night in his State of the Union address.

“The notion … that in order for some people to do better, someone has to do worse is just not true,” Florida GOP Sen. Marco Rubio told CBS’ “Face the Nation.” “Raising taxes on people that are successful is not going to make people that are struggling more successful. … It would also be counter-productive.”

Among the other Obama proposals are increasing the investment tax rate, eliminating a tax break on inheritances, giving a tax credit to working families and expanding the child care tax credit — in total roughly $320 billion in tax hikes over the next 10 years.

The president also wants to impose a financial fee on some of the country’s largest financial firms. His full fiscal 2016 budget is scheduled to be released to the GOP-led Congress next month.

However, the centerpiece of the proposal is to increase to 28 percent the capital gains and dividends rate on couples making more than $500,000 a year. The top capital gains rate has already been raised from 15 percent to 23.8 percent during Obama’s presidency.

Rubio on Sunday also criticized Obama’s recent proposal to offer some Americans free community college tuition.

“I’m all for reforming our higher education system,” said Rubio, a potential 2016 presidential candidate. “In the 21st century, to have the skills you need for a middle-class job, you need higher education of some form or fashion. It may not be a four-year degree. The problem is he just wants to pour that additional money into the broken, existing system.”

Rep. Jason Chaffetz, R-Utah, called the plan “a non-starter.”

“We’re not just one good tax increase away from prosperity in this nation,” Chaffetz, chairman of the House Oversight and Government Reform Committee, told CNN’s “State of the Union.”

He also argued that elected officials need to “quit spending this money that we don’t have.”

As Bill Flax wrote back in March of 2012, on americanthinker.org, Obama’s political philosophy speaks for itself,

Every fiscal policy from sundry stimulus programs to tax credits is steeply progressive. Obama champions wealth-redistribution and punitively taxing the affluent, even as political reality prevents implementing his complete agenda. Still, spending relentlessly rises long after the recession’s end, propelling government dependency to record heights. Meanwhile, regulatory impositions grow ever more invasive, further extending Leviathan’s lurching grasp.

The administration’s rhetorical assaults on business and repeated allusions to Republicans or the rich as “enemies” betray Marxist moorings. To Obama, profits represent not satisfied customers, but swindles; businesses are “greedy” until proven innocent. Acquittals come via campaign contributions or penance to progressive causes. Those who cooperate obtain ObamaCare waivers and lucrative public contracts; those who won’t get vilification from the presidential bully pulpit.

The desensitization and placating of the Middle Class, as it was in classic Marxist Theory, has been a key element, of both the Obama Administration and the Modern Democratic Party.

By taking the ambition of the Middle Class away, by offering a “safe and comfortable” cradle-to-grave Nanny-State, “Uncle Sugar” Federal Government, Obama and the Democrats have tried to buy American voters by giving them bribes of free Obamaphones, paychecks for not working, free food, etc.

Unfortunately, even with Obama’s Presidency swirling around the proverbial porcelain receptacle, there is still a great percentage of American voters who will buy Obama’s con game and be content with this “Mother’s milk”, instead of yearning for the thrill and the challenge of the hunt for American Individual Success and Freedom.

As has always been the case, the will and exceptionalism of the American people will be the way out of our woeful economic plight and into a bright future for our children and grandchildren, not Obama and his Administration’s “benevolent” bribery.

Until He Comes,

KJ

Greasing the Wheels: Obama Delays ACA Employer Mandate…Until After the Mid-Terms.

On By kingsjesterIn Politics4 Comments

obamadoctorObamacare, or, as the Liberals refer to it, the Affordable Care Act, is hanging over America like an F5 Tornado about to touch down, leaving a barren landscape, as far as the eye can see.

Mark J. Mazur is the Assistant Secretary for Tax Policy, in the U.S. Treasury Department. He is responsible for developing, analyzing, and coordinating Treasury’s and the Administration’s agenda, policies, and guidance on tax issues.

Yesterday, Mazur made the following announcement on the Treasury Department’s Blog:

Over the past several months, the Administration has been engaging in a dialogue with businesses – many of which already provide health coverage for their workers – about the new employer and insurer reporting requirements under the Affordable Care Act (ACA). We have heard concerns about the complexity of the requirements and the need for more time to implement them effectively. We recognize that the vast majority of businesses that will need to do this reporting already provide health insurance to their workers, and we want to make sure it is easy for others to do so. We have listened to your feedback. And we are taking action.

The Administration is announcing that it will provide an additional year before the ACA mandatory employer and insurer reporting requirements begin. This is designed to meet two goals. First, it will allow us to consider ways to simplify the new reporting requirements consistent with the law. Second, it will provide time to adapt health coverage and reporting systems while employers are moving toward making health coverage affordable and accessible for their employees. Within the next week, we will publish formal guidance describing this transition. Just like the Administration’s effort to turn the initial 21-page application for health insurance into a three-page application, we are working hard to adapt and to be flexible about reporting requirements as we implement the law.

Here is some additional detail. The ACA includes information reporting (under section 6055) by insurers, self-insuring employers, and other parties that provide health coverage. It also requires information reporting (under section 6056) by certain employers with respect to the health coverage offered to their full-time employees. We expect to publish proposed rules implementing these provisions this summer, after a dialogue with stakeholders – including those responsible employers that already provide their full-time work force with coverage far exceeding the minimum employer shared responsibility requirements – in an effort to minimize the reporting, consistent with effective implementation of the law.

Once these rules have been issued, the Administration will work with employers, insurers, and other reporting entities to strongly encourage them to voluntarily implement this information reporting in 2014, in preparation for the full application of the provisions in 2015. Real-world testing of reporting systems in 2014 will contribute to a smoother transition to full implementation in 2015.

Per a report completed by the Washington Council of Ernst & Young…

  • According to Treasury Notice 2011-36, any employer with 50+ full-time equivalents is considered a large employer. For each calendar month of the preceding calendar year, employers must:

1. Calculate full-time employees (including seasonal): (30+ hrs/wk/month)

2. Full-time equivalents: aggregate number of hours worked by non-full-time employees (including seasonal) ÷ 120

3. Add the number of full-time employees and FTEs calculated in steps (1) and (2) for each of the 12 months in the preceding calendar year.

4. Add the monthly totals and divide by 12. If the average exceeds 50 FTEs, determine whether the seasonal employee exception applies (see below).

5. Seasonal employee exception: If an employer’s workforce exceeds 50 FT employees for 120 days or fewer during a calendar year, and the employees in excess of 50 who were employed during that period of

no more than 120 days (four calendar months, for this purpose only) were seasonal employees, the employer would not be an applicable large employer.

6. If the seasonal exception does not apply, the employer is an applicable large employer for the current calendar year.

  • If a large employer does not offer coverage to their full-time employees and their dependents, employers face a penalty of:

$2,000 x the total number of full-time employees (FTE) if at least one FTE is receiving a premium assistance tax credit

  • If a large employer offers coverage to their full-time employees and their dependents but the coverage is unaffordable to certain employees or does not provide

minimum value, employers face a penalty of:

  • The lesser of $3,000 x the number of FTEs receiving a premium assistance tax credit or $2,000 x the total number of FTEs

We’re talking big money here.

So, what would trump the Federal Government’s well-known penchant for avarice?

Their all-consuming survival instinct.

Obama and the rest of the Democrats know what a train wreck this ironically-named “Affordable Care Act” is going to be.

And, if they dare allow it to unfold on schedule, there will never be another Democrat elected again for decades, even if they bring in millions of replacement voters from Mexico, as they are trying to accomplish with the Senate Gang of 8’s horrendous Amnesty Bill.

Even time.com had to tell the truth about this move:

The so-called individual mandate is unaffected by the rule change. That provision requires the vast majority of Americans to purchase insurance or pay a penalty, with tax credits provided to those who can’t afford coverage.

Republican former Congressional Budget Office director Douglas Holtz-Eakin called the move “deviously brilliant,” by removing a potential electoral impediment from in front of congressional Democrats before the midterms.

“Democrats no longer face the immediate specter of running against the fallout from a heavy regulatory imposition on employers across the land,” Holtz-Eakin wrote. “Explaining away the mandate was going to be a big political lift; having the White House airbrush it from the landscape is way better.”

Uh huh.

So, by delaying this incredible tax burden aimed directly at the heart of our economy…America’s “Large” Employers…the men and women who actually provide us with jobs, the Democrats are hoping that American Capitalists have short memories, and absolutely no foresight.

Just as the Vichy Republicans believe that former illegal aliens will be so grateful for the passage of the Amnesty Bill, that they will actually vote for the GOP, so Democrats believe that America’s Businessmen will ignore the Employer Mandate that’s is hanging directly over their heads, like the blade of a guillotine.

I believe that both political parties are counting their chickeeeens….before they come home…to roost!

 

The Coming of Obamacare: Like the Titanic Headed for the Iceberg

On By kingsjesterIn Politics5 Comments

obamadoctorAs America creeps closer and closer to the full launch of Obamacare, Americans are finding out why Congress did not want to read the bill before they passed it into law.

On February 10th, Reason.com told us that Obamacare will not lower Americans’ medical costs. Au contraire…

“We have to pass the bill so you can find out what’s in it,” said Nancy Pelosi during the debate over Obamacare. The Affordable Care Act passed, and Americans are now finding out. It’s not a pretty picture.

Take employment. “Medical device makers in Massachusetts and elsewhere are warning of potential job losses,” reports The Boston Globe, because of a 2.3-percent tax on medical devices imposed by law. Even liberal-heartthrob-turned-Massachusetts-Senator Elizabeth Warren, a supporter of the law, says repealing that tax is “essential.” (To paraphrase a cliché, if it saves one job – hers – it’s worth it.)

But the ACA’s effect on jobs goes well beyond medical device makers. Reporting on January’s employment numbers, Investor’s Business Daily notes an “apparent shift to part-time work ahead of a key Obamacare deadline.” Although more people are working in the retail sector, they are working fewer hours per person – now just a hair above 30 hours a week. “A similar trend,” IBD notes, “showed up in leisure and hospitality.”

Why? No great mystery: Under the ACA, companies with 50 full-time employees or more must provide health insurance or pay a fine. As Paul Christiansen writes in The Wall Street Journal, “thousands of small businesses across the U.S. are desperately looking for a way to escape their own fiscal cliff” through layoffs or shifting to more part-time employees. (He advises a third route: “going protean,” an approach in which a small cadre of managers sets strategy and outsources everything else – from accounting and IT to product development and manufacturing – to contractors.)

This employment shift may frustrate one of the aims of the Affordable Care Act: increasing the percentage of Americans who have employer-based health insurance. Won’t the downsized be able to buy subsidized health insurance through the new state exchanges, though? Sure. In fact, they will be forced to, or pay a fine. But that only highlights another area where the law is falling short: cost control. Back in 2010 the Congressional Budget Office estimated the average subsidy at $3,970 per individual. It’s now up to $5,510 – bringing the overall cost between now and 2022 to more than $1 trillion.

This is the trajectory of a law President Obama insisted was necessary to “bend the cost curve downward.” Indeed, three years ago Health and Human Services Secretary Kathleen Sebelius explained the “urgency” of health-care reform this way: “Working families have been saddled with huge rate increase in their health insurance premiums” – 39 percent in California, 56 percent in Michigan, and so on.

Yet as Michael Cannon of the Cato Institute notes, a recent survey of insurance companies finds that “if the law’s insurance rules were in force [now], the premium for a relatively bare-bones policy for a 27-year-old male nonsmoker on the individual market would be nearly 190 percent higher.”

Okay, so maybe the conservative group that conducted the survey cherry-picked that case. What about other sorts of policies, and other people? The news isn’t much better: Wisconsin predicts “an average premium increase of 41 percent.” Ohio’s Department of Insurance says “the individual health insurance market premiums are estimated to increase by 55 percent to 85 percent above current market average rates.”

But, hey, at least the “least among us” as Obama likes to call lower income Americans, will be taken care of. Especially, if they have pre-existing conditions, right?

Err…not so much.

The Washington Post reports that

Tens of thousands of Americans who cannot get health insurance because of preexisting medical problems will be blocked from a program designed to help them because funding is running low.

Obama administration officials said Friday that the state-based “high-risk pools” set up under the 2010 health-care law will be closed to new applicants as soon as Saturday and no later than March 2, depending on the state.

But they stressed that coverage for about 100,000 people who are now enrolled in the high-risk pools will not be affected.

“We’re being very careful stewards of the money that has been appropriated to us and we wanted to balance our desire to maximize the number of people who can gain from this program while making sure people who are in the program have coverage,” said Gary Cohen, director of the Department of Health and Human Services’ Center for Consumer Information and Insurance Oversight. “This was the most prudent step for us to take at this point in time.”

The program, which was launched in summer 2010, was always intended as a temporary bridge for the uninsured. But it was supposed to last until 2014. At that point, the health-care law will bar insurers from rejecting or otherwise discriminating against people who are already sick, enabling such people to buy plans through the private market.

From the start, analysts questioned whether the $5 billion that Congress appropriated for the Pre-Existing Condition Insurance Plan — as the program is called — was sufficient.

Initial fears that as many as 375,000 sick people would swamp the pools and bankrupt them by 2012 did not pan out. This is largely because, even though the pools must charge premiums comparable to those for healthy people, the plans sold through them are often expensive.

But it was also because the pools are open only to people who have gone without insurance for at least six months. The result is that, while only about 135,000 people have gotten coverage at some point, they are proving far more costly to insure than predicted.

Many people who are uninsured go untreated, exacerbating their medical problems. When they finally do get coverage through a high-risk pool, they are in immediate need of expensive care.

“What we’ve learned through the course of this program is that this is really not a sensible way for the health-care system to be run,” Cohen said.

Of the original $5 billion, about $2.36 billion remains available for the last three quarters of 2013 — enough only to continue coverage for those already in the pools, according to administration estimates.

The law gave states the option of either administering their pools directly or allowing federal authorities to operate them. In 27 states that have chosen direct management, applications for new enrollment can be accepted only through March 2. In 23 states and the District, where the pools are operated by the federal government, only applications received through Friday will be considered.

Obama administration officials said they did not have estimates for how many more people would have sought coverage through the pools beyond then. But Cohen said that new enrollment has averaged about 4,000 people per month in the past several months, suggesting that the figure could number in the tens of thousands.

Asked why the administration has not requested additional money from Congress to keep the program open — admittedly a tough sell in the current political and budgetary environment — Cohen said, “My responsibility is to work with the appropriation we have.”

About 129 million people nationwide have a medical condition or prior illness that would make it hard for them to buy their own insurance plan.

Large numbers of them can and still do obtain full coverage through employer-sponsored plans, which generally do not treat sick people differently.

An additional 215,000 people are insured through separate high-risk pools that 35 states fund through their own budgets — although the policies often do not pay for treatment of the person’s preexisting illness, only covering new illnesses the person may develop.

Between 9 million and 25 million people with preexisting conditions are uninsured, depending on the estimate.

And, just think…Obamacare is not even fully implemented, yet.

Oh, and if someone offers you “Soylent Green”, don’t eat it.

Until He Comes,

KJ

The Great and Powerful Obama (Pay No Attention to the Marxist Behind the Curtain)

On By kingsjesterIn Politics3 Comments

obamamyworkAs I was sitting at my keyboard, waiting for some sort of divine inspiration, as often happens, something struck me (and no, it wasn’t my lovely bride backhanding me to take out the garbage).

Take a look at everything that President Barack Hussein Obama has been pushing since his misbegotten re-election:

1.) Gun Confiscation

2.) Amnesty for Illegal Immigration

3.) Gay Marriage (even in our National Cathedral)

4.) Fighter Jets to the Muslim Brotherhood in Egypt

5.) Chuck Hagel as Secretary of Defense

6.) John Kerry as Secretary of State

7. ) And last, but not least, raising taxes on EVERYBODY

This is HOPE AND CHANGE?

Obama ascended to the throne of the Regime during a period when our nation was experiencing a period of economic recession, by appealing to the masses by promising that if he was elected, the oceans would rise and fall, the sun would come out tomorrow (Hey, that sounds like a song. Oh…never mind.) and everybody would receive a unicorn in their backyard. (Okay. He didn’t really promise that. But, heck, he promised everything else.)

Obama definitely has a mission. But what is it?

I mean, it’s not as radical as Valdimir Lenin’s was, is it?

Lenin endeavored to gain support by broadcasting slogans such as “Bread, Land, Peace and All Power to the Soviets.” To people suffering from famine, this promise hit the spot. Yet in elections for the Russian Constituent Assembly in late November 1917, only a quarter of voters cast ballots for the Bolsheviks. Lenin overturned the results and sent armed guards to prevent meetings of the democratic assembly. This made it virtually impossible for the Russian people to voice their concerns in a democratic way.

The years from 1917 to 1920 became known as “war communism” due to the methods the Bolsheviks used to push their political agenda. In 1918, the party was renamed the Russian Communist Party. Lenin and his communist cohorts endeavored to put Marx’s tenets of belief into practice. This marked the beginning of the Russian Civil War, which lasted from 1918 until 1922. When the war ended, the Soviet Union formed — also known as the U.S.S.R., the Soviet Union included Russia and 15 bordering states.

Lenin was aware that the upper class wouldn’t willingly give up land or wealth, so he created the New Economic Policy (NEP) to legislate redistributing land — taking it from the nobility and giving it to the poor. Upholding the necessary phases that Marx outlined, Lenin initiated the Red Terror, a threatening fear campaign led by the Bolsheviks. His goal was mass murder, which he accomplished through three main methods.

Man-made famine was Lenin’s most successful tool. He knew that if he could break the peasantry, he’d have full control. Lenin engineered famines by requiring peasants to sell their crops to him at virtually no profit, using the rationale that he needed the crops to support his army. The peasantry was so indignant that they reduced crop production drastically, leading to a full-scale civil war. The exact numbers vary, but tens of millions of people starved and millions died.

Lenin also instituted slave labor camps. Anyone who disagreed with Lenin’s rule was sent to work at one of these camps, where millions more suffered and died

And, he executed his detractors to silence their voices. During the Red Terror, hundreds of thousands of detractors were put to death. Victims included members of the bourgeoisie, White Army prisoners of war, socialists, Czarist sympathizers and innocent civilians.

I know. The guillotines have not been set up…yet. And, citizens have not been sent to Siberian internment camps…yet.

However…

With the support of a once-noble political party that has been taken over by Far Left Radicals, and a once-objective Fourth Estate, which has morphed into a government-backed propaganda arm, flooding television, radio, internet, and print sources with Obama worship, misinformation, and downright lies, about both the Lightbringer’s accomplishments and anyone who dares to oppose him (ask Sarah Palin…and Mitt Romney), that the shear audacity of it all would make Goebbels blush, Obama has been able to begin the process of turning “the shining city on a hill” into a third-world barrio, and the transformation of the Greatest Country in the World into just another Democratic Socialist nation, such as can be found in Europe.

Norman Mattoon Thomas, six-time Socialist candidate for president, said the following in a 1944 speech:

The American people will never knowingly adopt Socialism. But, under the name of “liberalism,” they will adopt every fragment of the Socialist program, until one day America will be a Socialist nation without knowing how it happened … The Democratic Party has adopted our (Socialist) platform.

And…here we are. So, what now? Do we just give up and say, even so, Lord Jesus, quickly come?

Well…while I look forward to the day the trump will sound, in the meanwhile, I am still living in a sacred, God-given country, whose Founders not only believed in The Creator, but, also acknowledged Him in our Founding Documents.

During his radio program on January 18th, Rush Limbaugh made the following statement of guarded optimism:

I have a sense that it’s gonna be okay. I can’t get specific, and I know it flies in the face of reality. I don’t know anymore than that. I’m not a soothsayer, nor am I a seer. I can’t predict the future. But I’m fairly confident — and it’s not because of the second term tradition that happens to every president. Some scandal or something comes along and distracts them and takes down the president. I’m not putting faith in anything like that.

…I just think that it is going to be an event or series of events that reorients people in the way they’re looking at Obama. I do think that’s gonna happen, and it’s not gonna happen because I sit here and tell people who he is and what he’s like. I’ve been doing that for four years, and so have a lot of other people. Now, I’m not saying the four years have been wasted. We’ve built the foundation.

When the event or events happen that bring about this reality that I think is gonna occur, having this foundation, people saying, “Oh, yeah! You know what? Maybe they were right” is gonna happen. “You know, I should have listened to what Limbaugh or somebody else was saying.” Maybe it is a little overreaching, going too far. It’s rooted in a belief that a lot of people — and I don’t know how many and I don’t know if it’s a majority.

But certainly a lot of people voted for Obama having no idea what was really going to happen. Now, that could be blind faith. I try never to tell myself stories. Constantly. I never tell myself feel-good stories. I try to remain grounded in Realville where I’m the mayor every day. But I do believe that a lot of people will see this. We saw the first wave of this, by the way, when the paychecks went out and the take-home pay was smaller because the tax cut on payroll taxes was restored.

There’s gonna be more as Obamacare implements. At some point, all of these economic policies are going to hit. At some point the government, the Federal Reserve or somebody, is gonna run out of tricks to delay what’s coming. What’s coming is gonna eventually happen. Reality will eventually triumph here, and when it does I think it’s what’s gonna constitute this.

I’m not saying sit back and ignore everything else and don’t oppose Obama. I’m saying nothing like that. I don’t want anybody to get nervous here. I’m not gonna do that. I’m not waving the white flag and I’m not surrendering. I think the Republicans are. I think you better get used to the fact there isn’t going to be any serious legislative opposition to Obama for the next year. If there is and I’m pleasantly surprised, cool.

I agree with Maha Rushie. It is rough out there…and going to get rougher. 

However, by the Grace of God, and the indomitable will of the American people, we can turn this around.

Never give up. Never surrender.

Until He Comes,

KJ

Welcome to America…and Obamacare

On By kingsjesterIn Politics3 Comments

obamadoctorGive me your tired, your poor, your huddled masses yearning to be free…and have Government Benefits?

The majority of Americans are dreading the implementation of Obama’s ever-growing National Healthcare Monster,  known as Obamacare.

Obama and minions are already hard at work, preparing for the socialization of the (soon to be formerly) best Healthcare System in the world, by revamping the DHS-supplied informative manual given to new legal immigrants.

Carol May of The Daily Caller reports that

…USCIS spokesman Daniel Cosgrove told TheDC the new manual will be out by the end of fiscal year 2013.

When asked if the revamping had anything to do with the president’s push for immigration reform, Cosgrove said that the effort was “an ongoing project” for the department.

As TheDC previously reported, some have concerns about the manner in which the government is promoting government benefits, including in the welcome materials, to new immigrants.

In November, Alabama Republican Sen. Jeff Sessions advocated taking the “Government Benefits” page down.

“Some of these programs are clearly not available for immigrants,” Sessions told TheDC in November, “and it just creates confusion out there and suggests that if you can get into America, you can leave and get onto these programs, and from what we are seeing, many of these people are successful in getting on benefit programs that they are not lawfully entitled to.”

DHS launched WelcometoUSA.gov in 2007, and the guidebook was first developed in 2004 and revised in 2007.

Update: After publication Sessions weighed in on the department’s expected addition of the Affordable Care Act to WelcometoUSA.gov.

“The administration’s determination to place immigrants on federal assistance, including the President’s health law, will add trillions to the cost of any amnesty,” the Alabama senator told TheDC. “It is wrong and unfair to ask Americans to pay higher taxes and bear more debt in order to provide free benefits to legal and illegal immigrants. Such a policy weakens growth and undermines the core legal and economic principle of immigration – that you should be able to establish before you come here that you are financially self-sufficient.”

What about those of us who are already as American as Apple Pie? Is Obamacare free for us, too?

Answer:  Oh, Heck no. We’re going to be paying out the wazzoo. (That’s a medical term.)

CNSNews.com tells us that

In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year.

Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS.

The IRS’s assumption that the cheapest plan for family will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan.

The examples point to families of four and families of five, both of which the IRS expects in its assumptions to pay a minimum of $20,000 per year for a bronze plan.

“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.

Bronze will be the lowest tier health-insurance plan available under Obamacare–after Silver, Gold, and Platinum. Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016.

Here is the best summary of this unneeded monstrosity that I’ve ever seen, given by an American Doctor, who was introducing a serious speech about Obamacare:

We’re going to be gifted with a health care plan we are forced to purchase and fined if we don’t, which purportedly covers at least 10 million more people without adding a single new doctor, but provides for 16,000 new IRS agents written by a committee whose chairman says he doesn’t understand it, passed by a Congress that didn’t read it, but exempted themselves from it, and signed by a president who smokes … same sentence … with funding administered by a treasury chief who didn’t pay his taxes, for which we will be taxed for four years before any benefits take effect by the government, which has already bankrupted Social Security and Medicare — all to be overseen by a Surgeon General who is obese, and financed by a country that’s broke.”

– Dr. Barbara Ruth Bellar

The Maha Rushie’s brother, David Limbaugh, wrote the following :

Americans were outraged and horrified by this president’s reckless spending and his endless assaults on the Constitution, but no issue drove them to rise up and fight back like Obamacare – both the abominable legislative monstrosity itself and the tyrannical, corrupt manner by which Obama crammed it through the legislative process.

So now, in an effort to buy votes from potential new Democrat voters, the President and his Administration are marketing (And, I should know, I’m a VP of Marketing) Obamacare to legal immigrants, as one of the perks gifted to them by their benevolent Uncle Sugar.

I always thought that the promise of American Freedom was enough to buy loyalty.

Until He Comes,

KJ

 

Obamacare: Better Health Through Over-Taxation

On By kingsjesterIn Politics6 Comments

obamadoctor“Let me tell you how it will be, It’s one for you, nineteen for me.” – Taxman, The Beatles

Well, Obama’s wasting no time getting ready to fund his monstrosity known as Obamacare.

Reuters.com has the story:

The Internal Revenue Service has released new rules for investment income taxes on capital gains and dividends earned by high-income individuals that passed Congress as part of the 2010 healthcare reform law.

The 3.8 percent surtax on investment income, meant to help pay for healthcare, goes into effect in 2013. It is the first surtax to be applied to capital gains and dividend income.

The tax affects only individuals with more than $200,000 in modified adjusted gross income (MAGI), and married couples filing jointly with more than $250,000 of MAGI.

The tax applies to a broad range of investment securities ranging from stocks and bonds to commodity securities and specialized derivatives.

The 159 pages of rules spell out when the tax applies to trusts and annuities, as well as to individual securities traders.

Released late on Friday, the new regulations include a 0.9 percent healthcare tax on wages for high-income individuals.

Both sets of rules will be published on Wednesday in the Federal Register.

The proposed rules are effective starting January 1. Before making the rules final, the IRS will take public comments and hold hearings in April.

Together, the two taxes are estimated to raise $317.7 billion over 10 years, according to a Joint Committee on Taxation analysis released in June.

To illustrate when the tax applies, the IRS offered an example of a taxpayer filing as a single individual who makes $180,000 in wage income plus $90,000 from investment income. The individual’s modified adjusted gross income is $270,000.

The 3.8 percent tax applies to the $70,000, and the individual would pay $2,660 in surtaxes, the IRS said.

The IRS plans to release a new form for taxpayers to fill out for this tax when filing 2013 returns.

Here is a brief overview of the timeline for the implementation of Obamacare, from a pdf prepared by the House Ways and Means and Energy and Commerce Committees on April 2, 2010.

2013

Payments to Primary Care Physicians. Requires that Medicaid payment rates to primary care physicians for furnishing primary care services be no less than 100% of Medicare payment rates in 2013 and 2014.

Administrative Simplification. Health plans must adopt and implement uniform standards and business rules for the electronic exchange of health information to reduce paperwork and administrative burdens and costs.

Encouraging Provider Collaboration. Establishes a national pilot program on payment bundling

Limiting Health Flexible Savings Account Contributions.

Increased Threshold for Claiming Itemized Deduction for Medical Expenses.

Medical device excise tax. Establishes a 2.3 percent excise tax on the sale of a medical device by a manufacturer or importer.

Limiting Executive Compensation.

Fee for patient-centered outcomes research.

2014

Reforming Health Insurance Regulations.

Eliminating Annual Limits.

Ensuring Coverage for Individuals Participating in Clinical Trials.

Establishing Health Insurance Exchanges. Opens health insurance Exchanges in each State to individuals and small employers. This new venue will enable people to comparison shop for standardized health packages.

Local hack politicians are lining up for jobs right now.

Providing Health Care Tax Credits.

Ensuring Choice through Free Choice Vouchers.

Promoting Individual Responsibility.

Small Business Tax Credit.

Quality Reporting for Certain Providers.

Health Insurance Provider Fee. Imposes an annual, non-deductible fee on the health insurance sector allocated across the industry according to market share.

2015

Continuing Innovation and Lower Health Costs. Establishes an Independent Payment Advisory Board to develop and submit proposals to Congress and the private sector aimed at extending the solvency of Medicare, lowering health care costs, improving health outcomes for patients, promoting quality and efficiency, and expanding access to evidence-based care.

Paying Physicians Based on Value Not Volume. Creates a physician value-based payment program to promote increased quality of care for Medicare beneficiaries.

2018

Excise tax on high cost employer-provided health plans becomes effective. Tax is on the cost of coverage in excess of $27,500 (family coverage) and $10,200 (single coverage), increased to $30,950 (family) and $11,850

As I noted earlier,the “Healthcare Exchanges” are supposed to be in place by 2012. Several states are refusing to co-operate. However, if they don’t, the president plans on punishing them,  as newsmax.com reports:

Residents of states that refuse to set up health insurance exchanges under Obamacare are set to be hit with higher premiums under new rules announced by the Health and Human Services Department.

Insurance companies will be charged 3.5 percent of any premiums they sell through the federal exchanges, the department announced Friday.

And insurers are likely to pass that surcharge on to clients, leading to higher premiums.

The only states to be affected are those that refuse to set up their own exchanges because of opposition to the Patient Protection and Affordable Care Act. They are almost certain to be those under Republican control. In those states, HHS will set up the exchanges.

GOP governors are taking a hard line against implementing any part of the healthcare law, which will mean insurers in their states will need to pay the monthly fee, The Hill reports.

Arizona Gov. Jan Brewer announced this week that her state will not set up an exchange, calling the proposal “too expensive and too risky.” Her decision brings the total of states refusing to comply with the act’s provisions up to 17.

The exchanges were supposed to be up and running in all states by 2014. HHS plans to charge insurers 3.5 percent of the premiums for each plan they sell through the federal exchange.

There are still some states that haven’t yet decided whether to set up their own exchanges or use the federal exchange option, so it’s not yet known how much money the HHS will collect from insurance companies. In addition, HHS said it might change the user fees later on as more people enroll through the exchanges.

But exchanges that don’t attract enough insurers may make the companies carry larger percentages of unhealthy and thus expensive, patients, making them appeal even less to customers.

Why didn’t Obama and his minions try capitalism, instead of Marxism, as a solution for the high price of Health Insurance? All they had to do was rule that all Health Insurance Companies have to be available for consumers to purchase in every state.

Yes, Scooter. All 57 of them.

That would force them to lower their rates, in order to be competitive.

Affordable health insurance mandated by the free market system.

Imagine that. Sounds like an American Solution, doesn’t it?

Capitalism works. Marxism never has.

Until He Comes,

KJ

Washington’s “Revenue” = Our Money

On By kingsjesterIn Politics3 Comments

20 years ago, members of Congress signed the following pledge from the Americans for Tax Reform:

I, _______________, pledge to the taxpayers of the _____ district of the state of__________, and to the American people that I will:

ONE, oppose any and all efforts to increase the marginal income tax rates for individuals and/or businesses; and

TWO, oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates.

Evidently, Obama’s promises aren’t the only ones that come with expiration dates.

Foxnews.com reports

New York Rep. Peter King and Sen. Lindsey Graham said Sunday they would break the pledge and accept tax changes to generate more revenue to curb the trillion-dollar federal deficit.

Their statements followed a similar one Thursday by Georgia Republican Sen. Saxby Chambliss.

“I agree entirely with Saxby Chambliss,” King said on NBC’s “Meet the Press.” “A pledge you signed 20 years ago, 18 years ago, is for that Congress. … The world has changed, and the economic situation is different.”

The New York congressman said he was opposed to tax increases but that “everything should be on the table” when President Obama, House Speaker John Boehner and Senate Majority Leader Harry Reid try to broker a deal.

“I’m not going to prejudge it, and I’m just saying we should not be taking ironclad positions,” King added. “I have faith that John Boehner can put together a good package.”

Should Congress and the White House fail to reach an agreement, a $500 billion mix of federal cuts and unrelated tax increases would kick in January 2 — the result of lawmakers failing to reach a more measure approached to cutting the deficit and keeping the country from going over the so-called “fiscal cliff.”

The across-the-board cuts to the federal budget would equal more than $1 trillion over the next 10 years.

Graham has suggested earlier that he would be open to changes in taxes but repeated Sunday only if Democrats are willing to cut federal spending by scaling back entitlement programs like Medicare and Social Security.

“I will violate the pledge, long story short, for the good of the country, only if Democrats will do entitlement reform,” he said on ABC’s “This Week.”

He also said the only pledge that should be made when the country is trillions in debt is to “avoid becoming Greece.”

“Republicans should put revenue on the table,” he continued. “We don’t generate enough revenue.”

However, Graham said he agrees with pledge champion Grover Norquist that tax rates should not be increases and instead suggested generating revenue through capping tax deductions.

Indiana Democratic Sen. Dick Durbin, on the same show, acknowledged that his party needs to “bring entitlement reform into the conversation.”

When Politicians like Lindsey Graham use the word “revenue”, it positively chaps my hindquarters.

It’s not “revenue”, Sen. Graham! It is Americans’ hard-earned wages ,which you want to tax the stew out of, in order to continue to fund the out-of-control leviathan known as the United States Federal Government.

The  term “fiscal cliff” refers to

A combination of expiring tax cuts and across-the-board government spending cuts scheduled to become effective Dec. 31, 2012. The idea behind the fiscal cliff was that if the federal government allowed these two events to proceed as planned, they would have a detrimental effect on an already shaky economy, perhaps sending it back into an official recession as it cut household incomes, increased unemployment rates and undermined consumer and investor confidence. At the same time, it was predicted that going over the fiscal cliff would significantly reduce the federal budget deficit.

Grover Norquist, the head of Americans for Tax Reform, summarizes the situation thusly:

Obama’s present demand is that the top two marginal tax rates be increased to 39.6 percent plus the 3.8 percent Obamacare tax surcharge for a top rate of 43.4 percent. The death tax would also jump back to 55 percent, capital gains tax would jump from 15 percent to 23.8 percent, and the tax on dividends would increase from 15 percent to 39.6 percent.

Speaker John Boehner is calling for extending all of the Bush tax cuts for all income groups.

Boehner notes that there are 11 million businesses that pay taxes at the individual level. Obama, on the other hand, is demanding that more than half of small business income be taxed at 43.4 percent rather than today’s 35 percent. This would be a body blow to job creation.

If Obama follows through on his threat and refuses to extend the Bush tax cuts, then there would be an automatic $500 billion tax increase beginning January 1, 2013, that would total $5 trillion over the decade.

…Here’s the thing

Now Obama is trying to conflate these two issues: the automatic tax hike that takes place unless the present rates are not extended as they were two years ago and the automatic spending cuts. They are of course very different. The tax hikes would hurt the economy. The spending cuts would reduce the Obama debt machine and strengthen the economy.

So far, both House Speaker Boehner and Senate Republican Mitch McConnell have both said they would not support any increase in marginal tax rates. They have said they are open to more revenues from economic growth. One fear is that taxes could be raised by limiting tax deductions for home mortgages, health insurance, charitable giving and state and local taxes to raise a great deal of money from taxpayers without technically increasing marginal tax rates.

This would be a bad idea one, because those tax hikes would be instead of spending restraint and second, because reducing deductions now in order to spend more money makes tax reform much more difficult later.

Some had hoped that President Obama would focus on job creation and back off his high tax/stimulus spending agenda that has so damaged the economy. It does appear that four years of failure have taught him nothing.

Obama has not put on the table any specific entitlement reforms and is demanding a total of $1.6 trillion in tax hikes. He is all tax hikes and no spending restraint. Nothing has changed in four years.

Obama, and every politician who decides to jump on his socialist bandwagon and raise taxes during the horrible economic conditions the American Taxpaxers are facing, are playing fast and loose with Americans’ money.

In the business world, that is called poor investing at best, and a con game at worst.

I tell you what, Sen. Graham. Why don’t you and the rest of Hussein Obama’s 40 thieves fix your own fiscal house first, and tighten your own belts, before you force hard-working Americans to pay more taxes to keep you all in the lifestyle to which you have become accustomed.

It’s called being a “good steward” and a “public servant”.

Terms you folks up on Capital Hill seem to have forgotten in the past 20 years, since you signed that pledge.

Until He comes,

KJ

Obama: More Debt, More Taxes

On By kingsjesterIn Politics3 Comments

If Americans allow Barack Hussein Obama (mm mmm mmmm) to have a second term, he has big plans.

Judging from his last four years, all of his plans require a lot of money.

Our money.

Per cnsnews.com:

According to the U.S. Treasury, the debt of the U.S. government climbed by a total of $1,275,901,078,828.74 in fiscal 2012, which ended yesterday.

That means the federal government borrowed approximately an additional $10,855 for each household in the United States just over the past twelve months.

The total debt of the United States now equals approximately $136,690 per household.

In fiscal 2011, the debt increased by about $10,454 per household–$401 less than the $10,855 per household increase of 2012.

The $1.2758 trillion that the debt increased in fiscal 2012 was about $47.18 billion more than the $1.2287 trillion that the debt increased in fiscal 2011.

The federal fiscal year begins on Oct. 1 and ends on Sept. 30.

At the close of business on Sept. 30, 2011, the total debt of the U.S. government was $14,790,340,328,557.15, according to the Treasury. At the close of business on Sept. 28, the last business day of fiscal 2012, it was $16,066,241,407,385.89

That meant the debt increased in fiscal 2012 by $1,275,901,078,828.74.

At the close of business on Sept. 30, 2010, the debt had stood at $13,561,623,030,891.79. Over the course of fiscal 2011, it increased by $1,228,717,297,665.36 before closing at 14,790,340,328,557.15 on Sept. 30, 2011.

The fiscal 2012 increase of $1,275,901,078,828.74 exceeded the fiscal 2011 increase $1,228,717,297,665.36 by $47,183,781,163.38

The Census Bureau estimated that there were 117,538,000 household in the United States in 2010. The $1,275,901,078,828.74 that the debt increased in fiscal 2012 equaled about $10,855 for each one of those 117,538,000 households.

Here is how much the debt has increased in each of the last six fiscal years:

Fiscal 2007: $500,679,473,047.25

Fiscal 2008: $1,017,071,524,650.01

Fiscal 2009: $1,885,104,106,599.26

Fiscal 2010: $1,651,794,027,380.04

Fiscal 2011: $1,228,717,297,665.36

Fiscal 2012: $1,275,901,078,828.74.

So, how does America crawl out of this financial abyss?

Will Obama pledge to be a better steward of our money, and, actually, finally be fiscally responsible?

Does Toure write Polka Music?

Don’t worry, boys and girls. Obama has a plan. He’s simply going to tax the stew out of us.

A typical middle-income family making $40,000 to $64,000 a year could see its taxes go up by $2,000 next year if lawmakers fail to renew a lengthy roster of tax cuts set to expire at the end of the year, according to a new report Monday

Taxpayers across the income spectrum would be hit with large tax hikes, the Tax Policy Center said in its study, with households in the top 1 percent income range seeing an average tax increase of more than $120,000, while a family making between $110,000 to $140,000 could see a tax hike in the $6,000 range.

Taxpayers across the income spectrum will get slammed with increases totaling more than $500 billion – a more than 20 percent increase – with nine out of 10 households being affected by the expiration of tax cuts enacted under both President Barack Obama and his predecessor, George W. Bush.

The expiring provisions include Bush-era cuts on wage and investment income and cuts for married couples and families with children, among others. Also expiring is a 2 percentage point temporary payroll tax cut championed by Obama.

The looming expiration of the large roster of tax cuts is one of the issues confronting voters in November, with the chief difference between Obama and GOP candidate Mitt Romney being the tax treatment of wealthier earners. Obama is calling for permitting rates on individual income exceeding $200,000 and family incoming over $250,000 to go back to Clinton-era rates of as much as 39.6 percent.

Both candidates call for rewriting the tax code next year, but any such effort promises to be difficult and could take considerable time.

Monday’s study, by the independent Tax Policy Center, deals with the immediate increases set to slap taxpayers in January under the existing framework of the tax code.

Few are talking of renewing Obama’s payroll tax cut, even though that would mean a healthy tax increase for many working people. Working families with modest incomes would be hit hard as the child tax credit would shrink from a maximum of $1,000 per child to $500.

As a result, a married couple earning $50,000 with three dependent children that currently receives an almost $1,500 income tax refund largely due to the child tax credit would see their fortunes reversed by more than $3,000 next year and pay more than $1,500 in income taxes while seeing their payroll taxes go up by $1,000 if the full menu of tax cuts expire.

“It’s just a huge, huge number,” said Eric Toder, one of the authors of the study.

Economists warn that the looming tax hikes, combined with $109 billion in automatic spending cuts scheduled to take effect in January, could throw the fragile economy back into recession if Washington doesn’t act. The automatic spending cuts are coming due because of the failure of last year’s deficit “supercommittee” to strike a bargain. The combination of the sharp tax hikes and spending cuts has been dubbed a “fiscal cliff.”

“The fiscal cliff threatens an unprecedented tax increase at year end,” says the report. “Taxes would rise by more than $500 billion in 2013 – an average of almost $3,500 per household – as almost every tax cuts enacted since 2001 would expire.”

The Greatest President of our Generation, Ronald Wilson Reagan once said:

Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.

Ronaldus Magnus was a prophet.

The Obama Administration, quite frankly, for all of his platitudes, does not  care that average Americans are having trouble paying their bills. As we say in Dixie,

It don’t bother him none. He’s got his.

In fact. he and Moochelle are worth $11 million!

He would rather everyone turned to Uncle Sugar in their time of need, instead of pulling themselves up by their boot straps, bucking up, and carrying on, with help from their family, friends, and neighbors.

There are several catch phrases that we’ve learned during these last few years such as  “social justice” and “spread the wealth around”.

However, one phrase has been missing from Obama’s vocabulary:

American Exceptionalism.

He doesn’t believe in it…or us.

We’ll make believers out of him on November 6th.