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The return of the inflation tax
By Thomas LifsonBuried in the Pelosi Healthcare bill is a very dangerous tax feature: repeal of indexing of progressive tax rates for inflation. Via the Wall Street Journal:"Buried in Nancy Pelosi's health-care bill is a provision that will partially repeal tax indexing for inflation, meaning that as their earnings rise over a lifetime these youngsters can look forward to paying higher rates even if their income gains aren't real.[....]"In order to raise enough money to make their plan look like it won't add to the deficit, House Democrats have deliberately not indexed two main tax features of... (Read Full Article)
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Nov 07, 09:27 AM |
Democrats the party of Tax and Spend faster. Bigger and better. It appears that ObummerCare will go to a vote at House. BHO met behind closed with Democrats - so much for transparency. Obummer does DC in the Chicago way - behind closed doors. FOX is carrying the life feed from the House.
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Nov 07, 10:48 AM |
After you factor in the massive inflation that will soon occur, regardless of Pelosicare, then you add in the tax increases under Obama-Pelosicare, does any of it really matter? Within two years America will be kaput, we will be owned by the international community (mostly China) and every American will be set adrift. The Obama government will sell our country out from under us to pay the debt and the average, working American had better learn to fend for themselves. It sounds draconian but there will soon be a time of survive or perish, and it will not be up to government to save any of us.
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Nov 08, 06:52 AM |
Unindexed taxation is one of the principal reasons the federal budget grew from 100 billion (John Kennedy) to 3.1 trillion dollars (George Bush).
It is also why the American middle class has been disappearing since the days of Lyndon Johnson.
To tax is to injure; to tax relentlessly is to destroy.
We can recover from some injuries, but destruction is quite another matter.
It is also why the American middle class has been disappearing since the days of Lyndon Johnson.
To tax is to injure; to tax relentlessly is to destroy.
We can recover from some injuries, but destruction is quite another matter.
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