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| Topic: 'Change' = 'Higher Taxes' You Can Believe In | |
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“Socialism is a great form of government until it runs out of other people's money.” Margaret Thatcher was right then, and she's STILL right. The 'hope' and 'change' that 'The ONE' gulled his victims and psychophants into believing with his soft, mellifluous words is 'coming home - to roost!' with a vengeance. There is not enough money in the GLOBAL economy to fund the changes (I prefer 'destruction') he wants to wreak on our country. Our national DEBT is 739% of GDP. We. Are. Bankrupt. Now. ... but he and his suckup crew will just keep rearranging the deck chairs on the Titanic while the weight of his deconstruction of what used to be America continues unabated ... "Change we can believe in" ... only if one's IQ is room temperature or lower ...
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ http://news.yahoo.com/s/ap/20100421/ap_on_go_co/us_congress_budget Millions face tax increases under Dems budget plan By ANDREW TAYLOR, Associated Press Writer – Wed Apr 21, 7:06 pm ET WASHINGTON – President Barack Obama's Democratic allies in the Senate promise to cut the deficit by almost two-thirds over the next five years, but their budget plan could threaten about 30 million people with tax increases averaging $3,700 in 2012 and after because of the Alternative Minimum Tax. The alternative is tax increases elsewhere in the revenue code averaging up to $100 billion a year after 2011 to continue alternative minimum tax relief and also curb taxes on people inheriting large estates. The Democratic plan released Wednesday by Senate Budget Committee Chairman Kent Conrad of North Dakota relies on such boosts in revenues to carve the deficit from $1.4 trillion last year down to $545 billion by 2015. The minimum tax, or AMT, was enacted four decades ago to make sure wealthy people couldn't avoid taxes altogether. But it wasn't indexed for inflation in people's incomes, so it gets "patched" every year or so in order to prevent people from being surprised by multi-thousand-dollar tax bills at tax time. Estates larger than $7 million would also be threatened with higher taxes after 2011 if Conrad's plan is carried out. But in the case of the AMT and estate tax, congressional Democrats have broken with Obama and promise that after two years of deficit-financed alternative minimum tax and estate tax cuts, Congress will have to come up with the money. "If we want those things taken care of ... they've got to be paid for," Conrad said. That's easier said than done. Conrad's plan, to be approved by the Budget panel Thursday, would permit Democrats to advance legislation on priorities such as taxes, energy and job creation without fear of a Republican filibuster. That could boost clean energy programs and revive Obama's stalled jobs agenda. Democrats haven't decided exactly what to include in the filibuster-proof measure, though Conrad promised it wouldn't be used to pass deeply controversial legislation to curb global warming. Gregg said the Democratic plan is "a budget that kicks the can down the road. More spending. More deficits. More debt. Less prosperity." |
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