Thursday, October 4, 2012

Barack Obama - #4268 - Top 5 Obama-Biden Tax Hikes Burying the Middle Class - Americans for Tax Reform (2) These Are the Top 5 Worst Tax Increases Small Businesses Will Face With a Second Obama Administration - The Blaze (3) Two Liberal Whoppers on Medicare - Heritage Foundation (4) VIDEO: Join the Rebuild America - Defeat Obama Tours

On Tuesday, Vice President Joe Biden said the middle class has ‘‘been buried the last four years.’’ Taxpayers agree. The following are the top five tax increases on the middle class signed into law by the Obama-Biden administration: 1. The Obamacare Individual Mandate Non-Compliance Tax: Starting in 2014, anyone not buying “qualifying” health insurance – as defined by President Obama’s Department of Health and Human Services -- must pay an income surtax to the IRS. The Congressional Budget Office recently estimated that six million American families will be liable for the tax, and as pointed out by the Associated Press: “Most would be in the middle class.” In addition, 100 percent of Americans filing a tax return (140 million filers) will be forced to submit paperwork to the IRS showing they either had “qualifying” health insurance for every month of the tax year or they obtained an exemption to the mandate. Americans liable for the surtax will pay according to the following schedule:  Read the remaining 4........

These Are the Top 5 Worst Tax Increases Small Businesses Will Face With a Second Obama Administration - TheBlaze  - last week we told you about Grover Norquist’s Americans for Tax Reform, a lobbying group dedicated to fighting all forms of tax increases, and their list of the top five worst taxes The Patient Protection and Affordable Care Act (i.e. “Obamacare”) will impose in 2013. The same group has just released another list, this time detailing what, they say, are the top five worst tax hikes small business owners will face if President Obama is reelected. Here they are [all block quotes via American's Ryan Ellisand John Kartch]:
Income Tax Increase - A pillar of President Obama’s re-election campaign is a hike in the top two marginal income tax rates. By and large, small employers pay their small business taxes using individual tax rates. If individual tax rates are raised, so are small business tax rates. The top income tax rate is scheduled to rise from 35 percent in 2012 to 39.6 percent in 2013. According to IRS data, a clear majority of all small business profits face taxation at this top marginal income tax rate. For all intents and purposes, the top income tax rate IS the small business tax rate in America today. President Obama and congressional Democrats claim they are raising taxes on “millionaires and billionaires” but are actually targeting successful small companies. A new study by Ernst and Young projects that this tax rate hike will kill 710,000 small business jobs. Read the remaining four.........

Two Liberal Whoppers on Medicare - Heritage Foundation - A debate that has been fought largely over the airwaves is about to go head-to-head. Medicare reform is a huge part of that debate, and the left—bolstered by the media—has been promoting two huge falsehoods on the issue. Several proposals from conservatives and liberals for Medicare reform, including The Heritage Foundation’s Saving the American Dream proposal, are based on a financing model called “premium support.” What that means: Medicare has a premium cost, just as other health insurance does. When the government makes a contribution (sometimes referred to as a “defined contribution”) toward paying your premium, that is called premium support. The difference with reform is that the government would no longer dictate to seniors which Medicare plan they would have to use. The government would still support the premium, but the seniors would have the option to choose from a variety of plans tailored to their needs, including traditional Medicare.  Read more.........


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