In response to:

Obama Won, Major Tax Bomb Still on the Way

Petrus64 Wrote: Nov 08, 2012 7:49 AM
The other irony is people voted for inflation. Add a 5% tax to purchases yhat will hurt the Fools that voted him in the most.

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....