Here is a great article on Forbes that sheds insight into how Obama thinks and it all goes back to his father. I hear the White House is a tad upset about this article. Aww, did someone get his feeling hurt? After all, Obama has said himself in his book "Dreams of My Father" that he is carrying out his father's dreams and ideas, that it is his duty to do so. So we need to look at his father and what a radical socialist he was. The nut doesn't fall far from the tree. Here is the article.
How Obama thinks
Friday, September 17, 2010
Thursday, September 9, 2010
Taxes taxes taxes
So, Obama has said that he opposes extending the Bush Tax cuts for the wealthiest Americans. Let me ask a question of anyone who may be reading this...Have you ever received a job from a poor person? Who do you think creates jobs in this country? It is not a poor person. The poor person, if so inclined, will strive to improve himself by learning enough to get a job and that job is going to come from a wealthy person. People who are educated, motivated and willing to work hard are the ones who become the wealthy and they provide the jobs. But what has happened here in the last 20 months? The community organizer told us all that he was going to "fundamentally transform the United States of America." And so he has. In just 20 months Obama has pushed through more socialist policies than we as Americans could ever imagine. But the reason we are still in this mess of unemployment and stalled economy is this: those who own and run small businesses are facing major tax increases in 4 months. They see the writing on the wall with the Bush tax cuts set to expire which means they ill pay more taxes. They are also faced with the new health care laws which begin to go into effect in 2011, which will also increase their costs. So these business owners are faced with how do I continue to operate my business and still make a profit when I know my costs are going up? They begin to cutback or they do not expand. If they do not expand, they do not hire any new employees. They hopefully stay afloat and continue to make money at the same level they did in the previous year. Businesses are not fooled by this man and his radical agenda. They know what he is up to and see right through his statements and false promises. The wealthy are the ones who keep this economy going folks and right now obama is their worst enemy. This man has no respect and great disdain for private business and worships at the alter of big government.
Now, here is a comprehensive list of the tax implications that this administration has in store for us starting in 4 months. It is not a pretty picture.
Higher taxes on marriage and family.
The "marriage penalty" (narrower tax brackets for married couples) will return from the first dollar of income.
The child tax credit will be cut in half from $1000 to $500 per child.
The standard deduction will no longer be doubled for married couples relative to the single level.
The dependent care and adoption tax credits will be cut.
The return of the Death Tax.
This year only, there is no death tax. (It’s a quirk!) For those dying on or after January 1, 2011, there is a 55 percent
top death tax rate on estates over $1 million. A person leaving behind two homes, a business, a retirement account, could easily pass along a death tax bill to their loved ones. Think of the farmers who don’t make much money, but their land, which they purchased years ago with after-tax dollars, is now worth a lot of money. Their children will have to sell the farm, which may be their livelihood, just to pay the estate tax if they don’t have the cash sitting around to pay the tax. Think about your own family’s assets. Maybe your family owns real estate, or a business that doesn’t make much money, but the building and equipment are worth $1 million. Upon their death, you can inherit the $1 million business tax free, but if they own a home, stock, cash worth $500K on top of the $1 million business, then you will owe the government $275,000 cash! That’s 55% of the value of the assets over $1 million! Do you have that kind of cash sitting around waiting to pay the estate tax?
Higher tax rates on savers and investors.
The capital gains tax will rise from 15 percent this year to 20 percent in 2011.
The dividends tax will rise from 15 percent this year to 39.6 percent in 2011.
These rates will rise another 3.8 percent in 2013.
Second Wave:
Obamacare
There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. They include:
The "Medicine Cabinet Tax"
Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).
The "Special Needs Kids Tax"
This provision of Obamacare imposes a cap on flexible spending accounts (FSAs) of $2500 (Currently, there is no federal government limit). There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children.
There are thousands of families with special needs children in the United States , and many of them use FSAs to pay for special needs education.
Tuition rates at one leading school that teaches special needs children in Washington , D.C. ( National Child Research Center ) can easily exceed $14,000 per year.
Under tax rules, FSA dollars can not be used to pay for this type of special needs education.
The HSA (Health Savings Account) Withdrawal Tax Hike.
This provision of Obamacare increases the additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.
Third Wave:
The Alternative Minimum Tax (AMT) and Employer Tax Hikes
When Americans prepare to file their tax returns in January of 2011, they'll be in for a nasty surprise-the AMT won't be held harmless, and many tax relief provisions will have expired.
The major items include:
The AMT will ensnare over 28 million families, up from 4 million last year.
According to the left-leaning Tax Policy Center , Congress' failure to index the AMT will lead to an explosion of AMT taxpaying families-rising from 4 million last year to 28.5 million. These families will have to calculate their tax burdens twice, and pay taxes at the higher level. The AMT was created in 1969 to ensnare a handful of taxpayers.
Small business expensing will be slashed and 50% expensing will disappear.
Small businesses can normally expense (rather than slowly-deduct, or "depreciate") equipment purchases up to $250,000.
This will be cut all the way down to $25,000. Larger businesses can currently expense half of their purchases of equipment.
In January of 2011, all of it will have to be "depreciated."
Taxes will be raised on all types of businesses.
There are literally scores of tax hikes on business that will take place. The biggest is the loss of the "research and experimentation tax credit," but there are many, many others. Combining high marginal tax rates with the loss of this tax relief will cost jobs.
Tax Benefits for Education and Teaching Reduced.
The deduction for tuition and fees will not be available.
Tax credits for education will be limited.
Teachers will no longer be able to deduct classroom expenses.
Coverdell Education Savings Accounts will be cut.
Employer-provided educational assistance is curtailed.
The student loan interest deduction will be disallowed for hundreds of thousands of families.
Charitable Contributions from IRAs no longer allowed.
Under current law, a retired person with an IRA can contribute up to $100,000 per year directly to a charity from their IRA.
This contribution also counts toward an annual "required minimum distribution." This ability will no longer be there.
PDF Version Read more: <http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171>; http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171#%23ixzz0sY8waPq1
And worse yet?
Now, your insurance will be INCOME on your W2's!
One of the surprises we'll find come next year, is what follows - - a little "surprise" that 99% of us had no idea was included in the "new and improved" healthcare legislation . . . the dupes, er, dopes, who backed this administration will be astonished!
Starting in 2011, (next year folks), your W-2 tax form sent by your employer will be increased to show the value of whatever health insurance you are given by the company. It does not matter if that's a private concern or governmental body of some sort.
If you're retired? So what... your gross will go up by the amount of insurance you get.
You will be required to pay taxes on a large sum of money that you have never seen. Take your tax form you just finished and see what $15,000 or $20,000 additional gross does to your tax debt. That's what you'll pay next year.
For many, it also puts you into a new higher bracket so it's even worse.
This is how the government is going to buy insurance for the15% that don't have insurance and it's only part of the tax increases.
Not believing this??? Here is a research of the summaries.....
On page 25 of 29: TITLE IX REVENUE PROVISIONS- SUBTITLE A: REVENUE OFFSET PROVISIONS-(sec. 9001,
as modified by sec. 10901) Sec.9002 "requires employers to include in the W-2 form of each employee the aggregate cost of applicable employer sponsored group health coverage that is excludable from the employees gross income."
- Joan Pryde is the senior tax editor for the Kiplinger letters.- Go to Kiplingers and read about 13 tax changes that could affect you. Number 3 is what is above.
Now, here is a comprehensive list of the tax implications that this administration has in store for us starting in 4 months. It is not a pretty picture.
In just six months, on January 1, 2011, the largest tax hikes in the history of America will take effect.
They will hit families and small businesses in three great waves.
On January 1, 2011, here’s what happens... (read it to the end, so you see all three waves)...
First Wave:
Expiration of 2001 and 2003 Tax Relief
In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families.
These will all expire on January 1, 2011.
Personal income tax rates will rise.
The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise.
Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates.
The full list of marginal rate hikes is below:
They will hit families and small businesses in three great waves.
On January 1, 2011, here’s what happens... (read it to the end, so you see all three waves)...
First Wave:
Expiration of 2001 and 2003 Tax Relief
In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families.
These will all expire on January 1, 2011.
Personal income tax rates will rise.
The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise.
Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates.
The full list of marginal rate hikes is below:
- The 10% bracket rises to an expanded 15%
- The 25% bracket rises to 28%
- The 28% bracket rises to 31%
- The 33% bracket rises to 36%
- The 35% bracket rises to 39.6%
Higher taxes on marriage and family.
The "marriage penalty" (narrower tax brackets for married couples) will return from the first dollar of income.
The child tax credit will be cut in half from $1000 to $500 per child.
The standard deduction will no longer be doubled for married couples relative to the single level.
The dependent care and adoption tax credits will be cut.
The return of the Death Tax.
This year only, there is no death tax. (It’s a quirk!) For those dying on or after January 1, 2011, there is a 55 percent
top death tax rate on estates over $1 million. A person leaving behind two homes, a business, a retirement account, could easily pass along a death tax bill to their loved ones. Think of the farmers who don’t make much money, but their land, which they purchased years ago with after-tax dollars, is now worth a lot of money. Their children will have to sell the farm, which may be their livelihood, just to pay the estate tax if they don’t have the cash sitting around to pay the tax. Think about your own family’s assets. Maybe your family owns real estate, or a business that doesn’t make much money, but the building and equipment are worth $1 million. Upon their death, you can inherit the $1 million business tax free, but if they own a home, stock, cash worth $500K on top of the $1 million business, then you will owe the government $275,000 cash! That’s 55% of the value of the assets over $1 million! Do you have that kind of cash sitting around waiting to pay the estate tax?
Higher tax rates on savers and investors.
The capital gains tax will rise from 15 percent this year to 20 percent in 2011.
The dividends tax will rise from 15 percent this year to 39.6 percent in 2011.
These rates will rise another 3.8 percent in 2013.
Second Wave:
Obamacare
There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. They include:
The "Medicine Cabinet Tax"
Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).
The "Special Needs Kids Tax"
This provision of Obamacare imposes a cap on flexible spending accounts (FSAs) of $2500 (Currently, there is no federal government limit). There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children.
There are thousands of families with special needs children in the United States , and many of them use FSAs to pay for special needs education.
Tuition rates at one leading school that teaches special needs children in Washington , D.C. ( National Child Research Center ) can easily exceed $14,000 per year.
Under tax rules, FSA dollars can not be used to pay for this type of special needs education.
The HSA (Health Savings Account) Withdrawal Tax Hike.
This provision of Obamacare increases the additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.
Third Wave:
The Alternative Minimum Tax (AMT) and Employer Tax Hikes
When Americans prepare to file their tax returns in January of 2011, they'll be in for a nasty surprise-the AMT won't be held harmless, and many tax relief provisions will have expired.
The major items include:
The AMT will ensnare over 28 million families, up from 4 million last year.
According to the left-leaning Tax Policy Center , Congress' failure to index the AMT will lead to an explosion of AMT taxpaying families-rising from 4 million last year to 28.5 million. These families will have to calculate their tax burdens twice, and pay taxes at the higher level. The AMT was created in 1969 to ensnare a handful of taxpayers.
Small business expensing will be slashed and 50% expensing will disappear.
Small businesses can normally expense (rather than slowly-deduct, or "depreciate") equipment purchases up to $250,000.
This will be cut all the way down to $25,000. Larger businesses can currently expense half of their purchases of equipment.
In January of 2011, all of it will have to be "depreciated."
Taxes will be raised on all types of businesses.
There are literally scores of tax hikes on business that will take place. The biggest is the loss of the "research and experimentation tax credit," but there are many, many others. Combining high marginal tax rates with the loss of this tax relief will cost jobs.
Tax Benefits for Education and Teaching Reduced.
The deduction for tuition and fees will not be available.
Tax credits for education will be limited.
Teachers will no longer be able to deduct classroom expenses.
Coverdell Education Savings Accounts will be cut.
Employer-provided educational assistance is curtailed.
The student loan interest deduction will be disallowed for hundreds of thousands of families.
Charitable Contributions from IRAs no longer allowed.
Under current law, a retired person with an IRA can contribute up to $100,000 per year directly to a charity from their IRA.
This contribution also counts toward an annual "required minimum distribution." This ability will no longer be there.
PDF Version Read more: <http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171>; http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171#%23ixzz0sY8waPq1
And worse yet?
Now, your insurance will be INCOME on your W2's!
One of the surprises we'll find come next year, is what follows - - a little "surprise" that 99% of us had no idea was included in the "new and improved" healthcare legislation . . . the dupes, er, dopes, who backed this administration will be astonished!
Starting in 2011, (next year folks), your W-2 tax form sent by your employer will be increased to show the value of whatever health insurance you are given by the company. It does not matter if that's a private concern or governmental body of some sort.
If you're retired? So what... your gross will go up by the amount of insurance you get.
You will be required to pay taxes on a large sum of money that you have never seen. Take your tax form you just finished and see what $15,000 or $20,000 additional gross does to your tax debt. That's what you'll pay next year.
For many, it also puts you into a new higher bracket so it's even worse.
This is how the government is going to buy insurance for the15% that don't have insurance and it's only part of the tax increases.
Not believing this??? Here is a research of the summaries.....
On page 25 of 29: TITLE IX REVENUE PROVISIONS- SUBTITLE A: REVENUE OFFSET PROVISIONS-(sec. 9001,
as modified by sec. 10901) Sec.9002 "requires employers to include in the W-2 form of each employee the aggregate cost of applicable employer sponsored group health coverage that is excludable from the employees gross income."
- Joan Pryde is the senior tax editor for the Kiplinger letters.- Go to Kiplingers and read about 13 tax changes that could affect you. Number 3 is what is above.
Thursday, August 26, 2010
Incredilbly Scary and very wrong!!!
Another example of how government is out of touch and out of control. No respect for the Constitution!! Click on the link below
The Government's New Right to Track your every move with GPS
The Government's New Right to Track your every move with GPS
Wednesday, August 25, 2010
The wonderful Summer Of Recovery!! How's that going for ya?
Here is a great article by Neal Boortz pointing out just how wonderful things are going....that is if you are a socialist and in favor of a central planned economy. The facts say otherwise. We are no where near any kind of recovery if you are in favor of a capitalistic society. When is the rest of America going to wake up and realize that this guy's main intent is to ruin the America we know and change it to his utopia socialst state? Pathetic.
HOW'S OBAMA'S "RECOVERY SUMMER" WORKING OUT FOR YOU?
So there we have Joe Biden telling Americans yesterday that "we're heading in the right direction." Well ... from his standpoint, and certainly from the standpoint of his boss, The Community Organizer ...perhaps he's right. Right, that is, if your version of "the right direction" is toward the economic tyranny that will be visited upon us by Obama's vision of a centrally planned economy.
Just take a look at some of the headlines over the past few days:
This is what we get when the idiot voters in this country fall for a smooth talking community organizer with absolutely NO executive experience at all ... and who has often professed his disdain for the private sector ... and we put this menace in charge of bring our economy back.
Would you take your sick puppy to a vet that hates dogs? Why, then, would we take a sick private sector economy to a ruler who hates the private sector?
This is all so much worse than I ever could have imagined when Obama got his crown of thorns in January of 2009. I've seen incompetence before ... but this character gets the gold medal.
I'm telling ya. If the Democrats remain in power after the November election this year, it's time to buy some luggage. If they remain in power after 2012 ... and this disaster of a president gets a second term ... it's time to pack.
Just take a look at some of the headlines over the past few days:
- Home sales in the United States were down in July. This in spite of dirt-cheap mortgages and greatly reduced prices. The figures are the worse we've seen in this country in over a decade. The experts are telling us that we're in for another drop in home values. Welcome to Recovery Summer!
- The Financial Times says that disappointing US economic figures are driving a surge in demand for low-yielding assets. I'm not sure what that means, but it doesn't sound good. Here's a quote: "Things appear to have come to a head...with markets braced at the edge of a precipice ahead of key US economic data likely to further unnerve investors already concerned by the extent of impending slowdown." Welcome to Recovery Summer!
- This from The Wall Street Journal: Day after day, investors have been hit with more evidence that the economy is stalling. The Dow is down over 4% this month, after an ebullient July that was fueled by impressive earnings results from U.S. companies. The Dow posted another triple-digit loss today and at one point fell below the 10,000 level. Michael Casey has details about the factors driving today's market action. But earnings season is now over and investors are far more focused on potential troubles ahead. What's that Biden said? Oh yeah ... Welcome to Recovery Summer.
- Economist David Rosenberg, apparently someone who has earned a certain degree of respect in economic circles, writes a daily brief for investors. Yesterday he said that the U.S. economy is heading into a 1930s-style depression. He reminded his clients that the Great Depression also had some high points such as positive stock market gains .. but then, as now, those signs of recovery were unsustainable and only provided a false sense of stability.
- Charles Nenner, founder and president of Charles Nenner research says that the Dow is on its way down to 5000 in the next 30 months. He's saying that things "really look bad for the next 10 years."
- While millions of Americans are looking for jobs so that they can start taking care of their families again, Our Hero is looking for over 5% in new income tax that our own government says will affect 50% of the small business income that we need to put to work to grow new jobs. Smart, isn't it?
- You saw the jobless claims that came out last week. Try 500,000 new jobless claims. Welcome to Recovery Summer.
- The number of subscribers to cable and satellite television fell for the first time in history during the second quarter of this year. People just aren't going to pay the price any more .. not in this economy they're not.
- The Obama Administration is no longer using the "jobs created or saved" nonsense to tout the effectiveness of the stimulus plan. There's a new phrase now .... "lives touched."
- The Obama Administration has now as much as admitted that ObamaCare will increase the cost of medical care in this country and, at the same time, add to our deficit. Exactly the opposite of what was promised when they were trying to get the bill passed earlier this year.
This is what we get when the idiot voters in this country fall for a smooth talking community organizer with absolutely NO executive experience at all ... and who has often professed his disdain for the private sector ... and we put this menace in charge of bring our economy back.
Would you take your sick puppy to a vet that hates dogs? Why, then, would we take a sick private sector economy to a ruler who hates the private sector?
This is all so much worse than I ever could have imagined when Obama got his crown of thorns in January of 2009. I've seen incompetence before ... but this character gets the gold medal.
I'm telling ya. If the Democrats remain in power after the November election this year, it's time to buy some luggage. If they remain in power after 2012 ... and this disaster of a president gets a second term ... it's time to pack.
Friday, August 20, 2010
Thursday, August 19, 2010
Let's really look at this mosque thing
I have been avoiding writing about the mosque controversy because I did not think America would rise up and make the needed fuss that is needed to fight this, but I have been proven wrong. I was worried that, even though 9/11 happened only 9 years ago, that we as a nation would fall on our short memory syndrom and say "well, 9/11 was a long time ago, maybe it's time we move on" Thank God I have been proven wrong. the American people are standing up in droves and protesting the building of this mosque on the proposed site. We are not protesting the Muslim world's right to build it. after all, our country was founded partly on religious tolerance and the ability to worship freely whatever religion one wanted. What is being protested is the site at which it is being built. But every day there is more and more about this Imam that comes out. things that as Americans we should find unsettling. First is what he said 9 days after 9/11 on an interview on 60 minutes. He said that America was an accessory to what happened on 9/11 and that Osama bin laden was made in the USA. Here is a clip from the Sean Hannity show which details some of the problems with this Imam.
Here is more, this time from Neal Boortz:
Why in the world should Imam Feisal Abdul Rauf insert himself into this controversy when he has the Mayor of New York, the President of the United States, the New York Times and so many others arguing the case for him? If I had that much firepower behind my plans I would lay lot too!
Here is more, this time from Neal Boortz:
MORE ON THE MOSQUE
Some are asking why the Imam who is behind this Mosque isn't speaking out more.
Why isn't he?
Why SHOULD he?
Why in the world should Imam Feisal Abdul Rauf insert himself into this controversy when he has the Mayor of New York, the President of the United States, the New York Times and so many others arguing the case for him? If I had that much firepower behind my plans I would lay lot too! Since the Imam isn't talking about the Mosque ... maybe you can just rely on some of the things he has already done and said. Perhaps you might like to consider the support he has shown for the Islamic terrorist organization known as Hamas. Maybe you might even want to read his book. In America his book is titled "What's Right with Islam is What's Right with America." Or maybe you might like to read that very same book in Arabic! They didn't use the same title .. the book is the same, but the title is different. If you get the Arabic version of the Imam's book the title will be "A Call for Dawa from the World Trade Center Rubble" Now the only part of that phrase you might not understand is the word "Dawa." So let's replace that word with one that infidels will understand and re-state the title to the Imam's book:
"A Call For The Spread of Islam From the World Trade Center Rubble"
Yup .. that's the guy behind the World Trade Center Mosque! That's the guy your taxpayer dollars are being spent to fly around the world on some sort of strange diplomatic mission. A Muslim Imam who wants to gather Muslims in the rubble of the World Trade Center to pray for the spread of Islam. How very wonderful.
Now remember .. a part of that rubble was the very building that is going to house this Mosque in New York City. The landing gear from the aircraft Muhammad Atta flew into Tower One crashed through the roof of the building in question. Who knows? Maybe they've saved some rubble from that very building to enhance their prayer for the spread of Islam experience.
And of course with all this we know about this man one has to ask, why, with all the public opposition to this mosque, with all the media attention, with all of the other 100 + mosques in new york city. why do they want to build it at this site? Why is it so important to them? As noted above, it is a call for the spread of Islam from the world trade center rubble. It is nothing less than a sign of victory, another step towards their ultimate goal of establishing Islam as the world religion and enacting their belief of Sharia law. Thank God, the American people are starting to wake up and see what is going on. And when we have a mayor and a president who both come out in support of the construction of this mosque at this site,especially when a majority of the american people are against it being built here, we have to worry. Our so called leaders are once again out of touch. And when the speaker of the house says she thinks we should investigate where those who oppose this mosque are getting the funding instead of investigating where the money is coming from to build it, then it seems as if all hope is lost.
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