In response to:

Obama Won, Major Tax Bomb Still on the Way

SageAdvice68 Wrote: Nov 07, 2012 9:30 AM
I said I wasn't coming back to TH, I likely won't have time, since I must help my family prepare for what's coming next. But I did so want to leave you with the following explanation of exactly what took place last night....Penned circa 1840's: “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years.” Alexis de Tocqueville
Lars795 Wrote: Nov 07, 2012 10:20 AM
So true. And those that have not learned from history .............. Of course most people slept through history.

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....