"3. Another new tax idea being floated by the Obama White House is the so-called “transaction tax.” This tax will initially be a 1% tax on any transactions you make at any financial institutions such as banks and credit unions. If you make a deposit or withdrawal, move money from one account to another, or even take cash from an ATM you will have to pay 1% of each amount to the Federal government. Think about how many such transactions you make a month and you can see how quickly this amount can add up."#4 is also bad -- cancelling of the tax credit given to American businesses for taxes they pay to foreign governments.
It's simply not debatable with me that Obama's goal is anything less than the explicit destruction of the United States. His actions aren't simply "misguided" or even random nihilism. That changes how you view everything he does, and what he will yet attempt.
“No man’s life, liberty, or property is safe, while the legislature is in session.” This is a quote that has been attributed to everyone from Daniel Webster to Mark Twain, but regardless of who first said it, the words have never been more applicable than they are today. The 111th Congress is about to return from recess, and the year of “tax and spend” will get underway once again.
It is amazing that the lemmings in Congress seem to be preparing to run off the cliff and drown in the sea by sacrificing their seats in the upcoming election in order to continue to pass the Socialist agenda of President Obama. Americans need to be aware of what will be attempted in the next few months prior to the election and even after that in a lame duck session of Congress.
Much of this is being kept under the radar by the Obama administration in the hope that American citizens will not know until the deed is done that they are being savaged even more by their government. So here is what the Congress will have before it in the next few weeks.
1. A new stimulus package to add another $50 billion dollars to the deficit that is already the largest in history. This money is supposed to be used for building and repairing infrastructure such as highways, railroads, etc. It is also supposed to stimulate the economy and create jobs. However, since under the first massive stimulus package unemployment has actually gotten higher, and the economic recovery has ground to a halt, there is no reason that this bill would do anything but increase the deficit.
In reality, it is not really meant to help the economy. Instead, most of the jobs that would be created would go to members of unions that support the liberals in Congress. This is an unconstitutional use of taxpayer funds to bribe the unions into staying with Obama and the liberals in the upcoming election.
2. The Bush tax cuts are set to expire at the end of the year and that is exactly what Obama wants. If the tax cuts are not renewed it will result in the most massive tax increase in American history. It is rumored that Obama is considering extending the cuts for those making under $250,000 per year so that supposedly it is only the “rich” that will be taxed. The truth is that the vast majority of people in this country that make over that amount are small business owners that create most of the jobs.
There is already enough uncertainly among small business owners. Large tax increases on them will cause them to stop creating new jobs, and in some cases even go out of business. Unemployment will get even higher.
3. Another new tax idea being floated by the Obama White House is the so-called “transaction tax.” This tax will initially be a 1% tax on any transactions you make at any financial institutions such as banks and credit unions. If you make a deposit or withdrawal, move money from one account to another, or even take cash from an ATM you will have to pay 1% of each amount to the Federal government. Think about how many such transactions you make a month and you can see how quickly this amount can add up.
4. Probably the most dangerous action being considered is a cancelling of the tax credit given to American businesses for taxes they pay to foreign governments. Since the United States already has the second highest corporate tax rate in the world, this tax credit is one of the few things that keeps our businesses competitive with businesses in the rest of the world. Now Obama wants to end that. The repeal of this tax credit will be an enormous blow to American businesses while greatly benefiting some of our enemies like Hugo Chavez in Venezuela. This is because the oil companies will be among those feeling the greatest impact. Therefore foreign oil companies will have a competitive edge.
Energy prices in this country will increase across the board with American families probably paying an average of $1500 more per year for things like gasoline and home heating oil. At the same time our dependence on foreign oil will increase even more.
5. Finally, there is going to be another major push in the Senate to pass the Disclose Act in order to limit the rights of businesses and independent conservative organizations to participate and influence the upcoming elections.
Every freedom loving American needs to immediately contact their Senators and Representatives and demand that there be no more laws passed in this session of Congress increasing spending or creating new taxes, that Congress extend the Bush tax cuts for everyone, and that the Senate defeat the “Disclose Act.” In other words, we need to tell these people to leave “our life, liberty, and property” alone.