The Obama Tax Hikes

Posted: Nov 12, 2010 10:24 AM
It is no surprise to anyone that President Obama only wants to extend tax cuts to the "middle class," while increasing taxes for the "rich." The cutoff for getting a tax "break" is a salary of less than $250,000  per year.

It should be noted President Obama has already broken his campaign promise of not raising taxes on anyone making less than $250,000 by raising taxes on everyone through the following:

-Over the counter medications; pre-tax flexible spending accounts have been eliminated by ObamaCare starting Jan. 1
-10 percent tax increase on tanning and cigarettes
-Tax on special needs children through the elimination of pre-tax flexible spending accounts
-Increased taxes on medical prosthetics and devices (pace makers, artificial limbs) starting Jan. 1

And on top of these tax increases, ObamaCare has caused premiums on private health insurance plans to skyrocket, increasing by an average of 27-30 percent just this year.

Half of all those making over $250,000 per year are small businesses, which means business owners will either have to cut employees or raise prices for their customers, once again who are most likely middle class customers, in order to survive. 

January 1, 2011 marks the largest tax increase in U.S. history if nothing is done.

Moral of the story: Tax cuts to the middle class aren't going to make a difference when the "rich" can no longer afford to give middle class workers a paycheck to pay taxes on.

'Washington doesn't have a revenue problem, they have a spending problem."
  -Rand Paul