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A government debt is a government claim against personal income and private property – an unpaid tax bill. —Hans F. SennholzObama's, “We don't have a spending problem” Increases Taxes on Every American
Incredible! President Obama believes, "We don't have a spending problem.” America is borrowing 40 cents on every dollar government spends. In four years, Obama added $5 trillion in debt and intends to add another $10 trillion in the next four years. By the way, this government debt must be repaid; it's not a freebie.
Recently, Congress and President raised taxes on the rich, which most Americans supported. Now, most Americans are learning that there are also higher taxes on them, and they don't like it.
Joseph Curl at the Washington Times astutely checked out the blogs frequented by liberals. Here are a few comments he found:
“_Alex™” sounded bummed. “Obama I did not vote for you so you can take away alot of money from my checks.”
Christian Dixon seemed crestfallen. “I’m starting to regret voting for Obama.”
“What happened that my Social Security withholding’s in my paycheck just went up?” a poster wrote on the liberal site
DemocraticUnderground.com. “My paycheck just went down by an amount that I don’t feel comfortable with. I guarantee this decrease is gonna’ hurt me more than the increase in income taxes will hurt those making over 400 grand. What happened?”
Dear member of the DemocraticUnderground.com, you have been duped and used by President Obama and Congress.
In 2009, President Obama proclaimed the payroll tax (Social Security) should be cut in half for every worker – a payroll tax “holiday.” This would be a cut from 6.2 to 3.1% of a worker's earnings. [Read: Obama Cut the Social Security Tax in Half] After haggling with Congress and beating up a few Republicans, government agreed to cut the tax for one year by 2%. A year later, as part of a campaign gimmick, Obama demanded the tax be extended through 2012, and the Republicans eventually agreed. After winning the presidency, Obama and Congress decided they needed the money to pay for government, especially ObamaCare, so the President and Congress quietly let the payroll tax 'holiday” expire.
A few lessons:
First, last week the President and Congress increased taxes on people earning over $450,000. Plus, the President and Congress gave enormous tax breaks to big businesses in the form of tax credits, and reduced some of their taxes to zero. Obviously, the President and Congress could have extended the payroll taxes cuts to us, but we just don't have the same clout as GE, the movie industry, farmers and wind energy.
Second, please know: A government debt is a government claim against personal income and private property – an unpaid tax bill. —Hans F. Sennholz
Third, if government spending is not substantially decreased, you and every other American will be taxed more and more - again and again.
Fairness for Young Americans
Stop Robbing from the Young to Fix Deceitful Government