In response to:

Obama Won, Major Tax Bomb Still on the Way

ctownsend Wrote: Nov 07, 2012 10:30 AM
Where exactly are they going to go to protect their wealth...lol They have had tax rates at 15% and below for a decade there is no other nation on the planet with tax rates anywhere close to that low...in fact if the tax cuts expires we will still have the lowest taxes on the planet...the country is in debt...we have spent like crazy going to war....tax have no choice but to go up...and on all of us...including the wealthy...
wdwrkr Wrote: Nov 07, 2012 12:17 PM
".we have spent like crazy going to war"

Wrong. We have spent like crazy on entitlement programs, subsidies, stimulus, and green energy boondoggles.

President Barack Obama won re-election Tuesday which means the United States is in the same exact fiscal situation it was in on Monday. We’re staring at $16 trillion in debt, but the more immediate problem comes on January 1 when every family will see a tax increase of $3500 as the Obama-Bush tax cuts expire and when more ObamaCare taxes kick in, better known as taxmaggedon.

First, let’s start with the first tax increase of $3500. This will happen if House Republicans, Senate Democrats and the White House can’t come up with a deal in the next 63 days....