The American Spectator

Bill Hussein O'Stalin| 7.11.11 @ 1:43PM

I just posted this under another article but Obama's claim that taxes need to be raised is unduly phony. That's also classic Obama. Here are the facts on Obama taxes, from the WSJ

http://online.wsj.com/article/.....stpop_read

Keep in mind that Mr. Obama has already signed the largest tax increase since 1993. While everyone focuses on the Bush tax rates that expire after 2012, other tax increases are already set to hit the economy thanks to the 2010 Affordable Care Act. As a refresher, here's a non-exhaustive list of ObamaCare's tax increases:

• Starting in 2013, the bill adds an additional 0.9% to the 2.9% Medicare tax for singles who earn more than $200,000 and couples making more than $250,000.

• For first time, the bill also applies Medicare's 2.9% payroll tax rate to investment income, including dividends, interest income and capital gains. Added to the 0.9% payroll surcharge, that means a 3.8-percentage point tax hike on "the rich." Oh, and these new taxes aren't indexed for inflation, so many middle-class families will soon be considered rich and pay the surcharge as their incomes rise past $250,000 due to tax-bracket creep. Remember how the Alternative Minimum Tax was supposed to apply only to a handful of millionaires?

Taxpayer cost over 10 years: $210 billion.

• Also starting in 2013 is a 2.3% excise tax on medical device manufacturers and importers. That's estimated to raise $20 billion.

• Already underway this year is the new annual fee on "branded" drug makers and importers, which will raise $27 billion.

• Another $15.2 billion will come from raising the floor on allowable medical deductions to 10% of adjusted gross income from 7.5%.

• Starting in 2018, the bill imposes a whopping 40% "excise tax" on high-cost health insurance plans. Though it only applies to two years in the 2010-2019 window of ObamaCare's original budget score, this tax would still raise $32 billion—and much more in future years.

• And don't forget a new annual fee on health insurance providers starting in 2014 and estimated to raise $60 billion. This tax, like many others on this list, will be passed along to consumers in higher health-care costs.

There are numerous other new taxes in the bill, all adding up to some $438 billion in new revenue over 10 years. But even that is understated because by 2019 the annual revenue increase is nearly $90 billion, or $900 billion in the 10 years after that. Yet Mr. Obama wants to add another $1 trillion in new taxes on top of this.

Occam's Tool| 7.11.11 @ 2:56PM

Or the tax on Health Care Providers WON'T be passed on because it won't be allowed, thus putting many providers out of business....

Oldefarte| 7.11.11 @ 2:13PM

What, another reason to defeat him next year? Wow, shazam! Let's see, in addition to allowing everyone's taxes to increase, add to that our energy starvation from his prevention of offshore oil drilling and also the construction of the oil sands pipeline from Canada to Texas; his turning a blind eye to enforcement of our southern border to prevent illegal immigration; his disbanning of DADT in the military; his nomination of more radically liberal SCOTUS justices in addition to the two he has already placed; his increased back door appointments of radical governmental administrators;etc. No doubt, a response to this editorial would be, IS THAT ALL????????????????

Occam's Tool| 7.11.11 @ 2:55PM

Perfect anti-Obama ad: Open with---- "The Democrats are trying to raise taxes in 2013." Barack Obama (7/11/11)

Cut to: Town Hall with man discussing hardships of $4.00/gallon gas. Loop of Obama laughing and laughing, telling man he needs a trade-in....

We need to hit hard in this election, not be a pussywillow like John McCain.

Oldefarte| 7.11.11 @ 3:59PM

Check out Cain's most recent ad!!!!!!!!

OLDRAY| 7.11.11 @ 3:46PM

We must face it. This President hates America and Western Civilization in general . His "stimulace packages", his Tax Goals, his endless lists of new regulations choking our oil,gas and coal needs, his obvious dislike of England and Israel and Columbia ( for that matter of most anybody own America's sde). He and his leftist extremists and nuts are out to elevate our enemies and cut us down to size. Be assured they will undermine our military forces ,asking them to do more but not renewing our equipment or advancing our increased needs for a larger Naval and Marine force. We must not face him with a Romney or similar. The only person with the strength of character, patriotism, and complete understanding of what we must do to save this country seems to be Sarah Palin (and it doesn't look like she is running). The old party leadership just can't cut it. Please excuse my errors above.

Dixie Pixie| 7.11.11 @ 4:00PM

Let me get this straight.
Obama own words claim his proposal does not raise taxes because the tax increase will occur in 2013 and the budget out years.
-----!!! WTF !!!------

Bill Clinton was considered a great liar because one had to work hard to discern the lie in his complex and multivalued statements.
Obama does not even try to conceal his lies!

He simply states the lies as facts and then dares anyone to oppose the Great, Wise and Intellectually Powerful Obama.
He then immediately contradicts his own statement highlighting his own lie.
Obama then considers is a test of loyalty if you don't believe in his every changing alternate reality.

I am surprised that Republican Leadership didn't call in the men with the butterfly nets and white lab coats when they walked out on the budget talks.

Wayne | 7.11.11 @ 5:27PM

And what about the tax hikes cooked into ObamaCare?
GOP needs to get smarter on the message. Offering to raise the debt ceiling with a 400 Billion dollar budget cut IS a compromise.

Nite| 7.11.11 @ 10:45PM

Hummm, well I guess we will have to see that he does not get re-elected. I can not understand who would vote for him after the mess he and the Democrats has made, and what they are doing to this country.

weddingdress| 7.12.11 @ 5:20AM

I am surprised that Republican Leadership didn't call in the men with the butterfly nets and white lab coats when they walked out on the budget talks.