A typical family of four with a household income of $50,000 a year would have to pay $2,900 more in taxes in 2011, according to a new analysis by Deloitte Tax LLP, a tax consulting firm. The same family making $100,000 a year would see its taxes rise by $4,500.
Wealthier families face even bigger tax hikes. A family of four making $500,000 a year would pay $10,800 more in taxes. The same family making $1 million a year would get a tax increase of $53,200.
The estimates are based on total household income, including wages, capital gains and qualified dividends. The estimated tax bills take into account typical deductions at each income level.
Democrats have been arguing for much of the past decade that tax cuts enacted in 2001 and 2003 under former President George W. Bush provided a windfall for the wealthy. Those tax cuts expire at the end of the year, setting the stage for a high-stakes debate just before congressional elections in November.
What was it that our Liar In Chief has said roughly a million times during the entire fraudulent 2008 election campaign and right through nearly two years of his miserable presidential term? If you make less than $200,000 (or was that $250,000 or $150,000) a year your taxes won't go up a penny? Great, The Fallen Messiah will swoop in to save the day! If cowardly congressman won't stop tax hikes, the great post-partisan president will, won't he? After all, he promised! And the financial well-being of tens of millions of middle class families is certainly more important than the "rights" of a relative handful of rogue military personnel who have an uncontrollable urge to stand up and publicly declare their affection for anal sex -- something Obama also promised to defend.
It is to laugh. Protecting public declarations of an affinity for anal sex is something Obama actually cares about. Pretending to care about the cares and concerns of the average middle class peasant -- namely jobs and tax cuts -- is just something he HAD to do to get elected. Anybody who actually thinks he cares about tax cuts is probably gullible enough to vote for him for president again and recent polls show that this group is shrinking by the hour. In other words, the Left's Fallen (and Falling) Messiah cares more about anal sex than tax cuts. After all, you hear him out there nearly every day reinforcing his support of open sodomy in the military. But when have you ever heard him weigh in on preventing the looming tax hikes for the middle class? I guess a president has to have his priorities and we know where this president's priorities are.
When it comes to tax cuts actions speak louder than words. Do Obama's actions over the past couple of weeks indicate that he's fighting hard for tax cuts for the "middle class"? They don't and he won't. Because the president who developed his ideology at the knee of his mentor Frank Marshall Davis the communist, doesn't care that everyone is going to get their taxes raised. In fact, that's the way Mr. "everyone's best if we spread the wealth around" likes it. If he can't exclude "the rich" from tax cuts, he doesn't care to give anyone a tax cut. And according to the amount my taxes will be going up, I must be "rich".
But I'm not rich and anyone with a family income in the range the AP listed who has a couple of kids and a house in the 'burbs can tell you that it takes every penny of that money to provide your family a decent lifestyle. And now anywhere from $2,900 to $4,500 a year more of that money is going to feed the beast. What is the typically middle class family going to have to give up or cut back on to make this payment to fund the Obama/Reid/Pelosi largess? Well, $2,900 a year might be a modest car payment on a used car. Too bad for the used car salesman who could've had a sale. $2,900 a year might be the average amount a middle class family gives to their church. $2900 to $4500 is about the cost of a decent vacation for a family of four. This money, spent in any one of millions ways ripples it's way through the economy impacting numerous businesses, jobs and people. Now take $2,900 to $4,500 times tens of millions of households and consider the impact of taking that money out of the economy to feed that out of control beast called the federal government -- an entity that produces nothing and wastes hundreds of billions of dollars every year.
"Spreading the wealth around" is what it's all about, in the final analysis and screw the middle class if their lifestyle is reduced because this is the Marxist's way. Fifty-two (and change) percent of voters were so captivated by the media phenomenon that was Barack Obama during the 2008 campaign -- so captivated that they conveniently forgot (if it ever even registered) that this guy in his words and deeds is a Marxist who has demonstrated his contempt for our capitalist system and the individual prosperity it creates and continues to do so on a daily basis. So it should come as no surprise that Dear Leader Chairman Maobama (as Mike Church likes to call him) says nary a word about the fact that you and I are going to be getting hit with huge tax increases at the beginning of the year. He never cared about tax cuts, so blaming this in congress is a convenient way to deflect the blame. "Not raising taxes" was just another of the manifold lies the Liar in Chief told to get elected. Hope you weren't planning on buying a modest used car, making a minor home improvement or taking a family vacation next year, because Barack "Karl Marx" Obama is going to be doing a little "wealth spreading" with your cash next year. Isn't socialism great?
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