Claim that President has cut taxes for 95% of Americans is an illusion, while administration prepares $1 trillion tax hike over next 10 years, not to mention Obamacare
Paul Joseph Watson
Friday, April 16, 2010
The smug leftist blog Talking Points Memo claimed yesterday that, “The loudest and most boisterous protesters at the tea party rally weren’t anti-Obama conservatives, but were instead Obama supporters who crashed the event with a huge banner reading “Thank You For Our Tax Cuts, President Obama.”
Really? These guys were louder and more boisterous than the thousands of tea partiers who attended yesterday’s event in DC? Watch the video and decide for yourselves, but to me it looks like a handful of Obamanoids shouting wildly inaccurate slogans at largely disinterested people.
TPM posted the video under a headline which read, “Obama Fans Storm Tax Day Tea Party In D.C.” Hardly a storm, I would argue, and more of a drizzle.
The Obamanoids’ argument that their dear leader has not raised taxes and has in fact overseen tax cuts for 95 per cent of Americans is a clever exercise in spin, and it completely ignores the fact that the administration is preparing to implement nearly $1 trillion in new taxes over the next 10 years, not to mention the colossal taxes that are contained within Obamacare.
As ABC News’ Jake Tapper (hardly a right-wing tea partier) reported shortly after Obama took office, “President Obama’s budget proposes $989 billion in new taxes over the course of the next 10 years, starting fiscal year 2011, most of which are tax increases on individuals.”
These include eliminating itemized deductions, hiking capital gains tax, as well as curtailing tax cuts already in place.
In addition, the beast that is Obamacare will help the administration to “spread the wealth” by “taxing the rich,” which in reality means the middle class, by hitting “higher earners,” ie anyone who can actually maintain a decent standard of living, with an array of tax increases which will further economically cripple Americans already laboring under the worst financial crisis since the great depression.
As Bloomberg News reported, analysis by the nonpartisan congressional Joint Committee on Taxation revealed that the bill would generate $409.2 billion in additional taxes by 2019. Bear in mind, this is on top of the near $1 trillion in other new taxes that comprise Obama’s budget over the next 10 years.
In addition, the Congressional Budget Office states that the bill also levies almost $69 billion more in penalties for those who fail to meet mandates to buy insurance.
Obamacare will impose dozens of new taxes that will totally eviscerate any remaining disposable income of millions of Americans and in turn lead the economy to ruin. Read a run down of the details of just some of those new taxes here.
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And what of the so-called “tax cuts” for 95 per cent of Americans that Obamanoids claim tea partiers should be thankful for?
As the Wall Street Journal outlined in October 2008, the Obama “tax cuts” are little more than a cynical ploy.
“It’s a clever pitch, because it lets him pose as a middle-class tax cutter while disguising that he’s also proposing one of the largest tax increases ever on the other 5%. But how does he conjure this miracle, especially since more than a third of all Americans already pay no income taxes at all? There are several sleights of hand, but the most creative is to redefine the meaning of “tax cut,” wrote the WSJ.
As the American Power Blog summarizes, the “tax cuts” for 95% is just a gimmick, Americans have not been allowed to keep more of what they earn, but have merely been offered seven “tax credits,” only one of which exclusively applies to people who actually pay any income tax.
“Here’s the political catch,” explains the WSJ. “All but the clean car credit would be “refundable,” which is Washington-speak for the fact that you can receive these checks even if you have no income-tax liability. In other words, they are an income transfer — a federal check — from taxpayers to nontaxpayers. Once upon a time we called this “welfare,” or in George McGovern’s 1972 campaign a “Demogrant.” Mr. Obama’s genius is to call it a tax cut.”
So the vast majority of Obama’s “tax cuts” are merely transfers of wealth from taxpayers to those on low income and non-taxpayers, the kind of people who voted for Obama because they thought he would pay for their gas and mortgage.
As another video from one of yesterday’s tea party rallies reveals, Obamanoids are completely clueless when it comes to the gargantuan amount of new taxes that are in the pipeline, an assault which will completely devastate the middle class in America, the precise reason why millions of concerned Americans hit the streets across the country yesterday.
This article was posted: Friday, April 16, 2010 at 5:27 am