Saturday, April 17, 2010

Obama is Synonymous to Higher Taxes

When we talk about Obama, his name is synonymous to higher taxes. Obama is projecting that the economy has stabilized and the recession is almost over. I really beg to differ. These rosy picture painted by the president is disingenuous and a full out utter lie. The other day he criticized about the Tea Party movement saying that he has lowered taxes instead of increasing it. Of course, he is full of crap. The audacity to think we are bunch of idiots. This space cadet of a president has promoted massive federal spending, expanding entitlement programs, and over-regulation in the private sector that caused an unstable economy. The worst part is that we have to borrow money from other countries at an absorbent pace. The thirst of this government is overwhelming. It is bad enough we have to work a total of 3 months just to pay our share of the national tax burden, but add that to the hidden taxes on the goods we buy, and taxes on gasoline, I would think we are being taxed around 60%.

We must be leery what this government is promoting. When they talk about “green jobs”, Obama is really trying to tell us that for every green job created by government at least 2.2 jobs are destroyed. For one thing, government does not create permanent job. It expands the size of government. When Congress wants to reform the financial sector with regulation we must be very cautious. They have talked about another TARP II and I wouldn’t be surprised if they try to disguise it as a reform memorandum. This will be another bailout program.

The national debt is currently around $13 trillion. Obama 2011 budget will add another $2.5 trillion to the federal deficit. With the government expanding at an enormous rate and abusing its authority via interventions in the private sector, we are losing our freedom bit by bit. The first mistake of this space cadet of a president was the first $787 billion stimulus bill, which fail miserably. Obama said that it was suppose to create 3.5 million shove ready jobs and prevent the unemployment rate to go over 8 percent. Actually, it caused 3.3 million people to lose their jobs and unemployment jumped near 10 percent.

If you think that is bad, I must remind everybody that the Bush tax cuts will expire at the end of this year. Obama is willing to let it expire and revert the tax changes to the time of the Clinton era. That means capital gains and dividend taxes will increase, the death tax will come back, and the AMT will come back in play. So, if you hear Obama gloating that he will save this country from any further deficits, you need to tune him out. He lied to us about Universal Healthcare. It is going to be a huge tax burden to every single American in this country. With “Cap and Trade” on the docket in Congress, it will be another mess we have to stand up and fight and win!