A List of lying black democrat Barack Obama's First Term Tax Increases, Middle Class Americans Hit Hardest.

0 views
Skip to first unread message

Too_Many_Tools

unread,
Jun 23, 2013, 1:52:25 AM6/23/13
to
In 2008, Barack Obama frequently made this promise to American
voters: "I pledge that under my plan, no one making less than
$250,000 a year will see any type of tax increase. Not income
tax, not capital gains taxes, not any kind of tax."

But as Obama�s first term comes to a close, that has clearly not
been the case. In fact, one of his very first acts as president
was to raise taxes on products consumed primarily by those whom
he promised not to raise taxes on. Below is a general list of
taxes raised by President Obama in his first term.

Product and Service Taxes

One of President Obama�s first acts as President in February of
2009 was to more than double the taxes on tobacco products. This
affected about 60 million Americans and disproportionally hurt
poor and middle class families. Cigarette taxes jumped from
$3.90 to more than $10 per carton. Cigar smokers, meanwhile, saw
their taxes increased by over 4,000%.

Not only was this a major tax increase, but it mostly harms
those making less than $250,000 and living at or below the
poverty level. According to the Center for Disease Control, in
2010 about 33% of people living below the poverty level were
smokers.

A second anti-consumer tax was found in ObamaCare and it levied
a 10% tax on tanning bed services, affecting about 30 million
Americans. Obviously, a vast majority of these users fall below
the richest 1% and make less than $250,000 per year, meaning
another broken promise not to raise taxes on those making less
than $250,000.

In both instances, President Obama decided to target certain and
specific products or services he deems unhealthy and levied
heavy taxes on them. Under this reasoning products such as
potato chips, sodas, violent video games, and football equipment
might be subject to heavy federal taxation in the near future.

Obamacare Tax Increases

The largest grouping of taxation can be found in ObamaCare, the
president's signature legislation. While the president has
attempted to declare that the most controversial portion of the
bill - the individual mandate - is not a tax, both the US
Supreme Court and his own lawyers have determined otherwise.

In fact, the Obama administration argued in front of multiple
courts in defense of the law that the individual mandate was
constitutional as it was a tax. At the Supreme Court, it was
argue that "the legislative history is replete with members of
Congress explaining that this law is constitutional as an
exercise of the taxing power...

Not only is it fair to read this as an exercise of the tax
power, but this Court has an obligation to construe it as an
exercise of the tax power, if it can be upheld on that basis."
The individual mandate will almost exclusively affect those
making less than $250,000.

Punishing Responsible HealthCare Users through Taxation

Through Obamacare, the president also raised a number of taxes
that have negative effects on responsible taxpayers and those
who have been fair participants in the system. Ironically, Obama
not only implements the individual mandate tax to punish those
who do not purchase health insurance, he also implements a tax
on those who are too responsible in purchasing insurance.

First up, Obama imposed a new $2,500 maximum contribution limit
for Flexible Spending Accounts. Flexible Spending Accounts
enable employees to direct funds from their paychecks on a pre-
tax basis to an account used specifically for medical purposes
during that year. Simply put, responsible people who had
expected expenses coming up in a given year, perhaps a pregnancy
or major dental surgery, could put money into a Flexible
Spending Account and immediately pay those bills.

In addition to severely limiting the contribution amounts to
Flexible Spending Accounts, Obama also raised the limit where
families become eligible to write off medical expenses. This
ObamaCare provision increases the write-off threshold by 25% to
10% of adjusted gross income.

Not surprisingly, this also almost exclusively affects those
making under $250,000. A family of 4 making $65,000 with medical
bills of $6,000 would have been able to write off those expenses
prior to the passage of ObamaCare.

Under his new rules, that family is no longer experiencing �high
medical costs� and will be forced to pay taxes on those
expenses. Wealthier families would not have met either minimum
anyway and are therefore unaffected by the passage.

Also as a result of the passage of ObamaCare, individuals making
$200,000 per year will see their Medicare taxes increase by 66%,
to 2.35%, while self-employed individuals will pay a Medicare
rate of 3.8%.

Other Trickle Down Tax Increases

President Obama has also implemented a number of other tax
increases that will directly affect consumers, even if they
don�t technically pay the taxes themselves. One example is a
2.3% tax on medical device makers. Pacemakers, prosthetic limbs,
and monitoring devices will all be subjected to this new tax. Is
it more reasonable to assume that the medical device suppliers
will simply just absorb this tax or pass it on to the consumers
of those products, the patients?

At the same time, Obama has been fighting his entire first term
to eliminate the Bush tax cuts, but only for those making more
than $250,000. Of course, this figure would include hundreds of
thousands of small business owners, independent medical
practices, and other job creators.

Will these small business owners simply absorb the higher taxes
or will they pass on those taxes through increases in the price
of their products and services? And while $250,000 may seem like
a lot of money, it is also important to remember that small
business usually pay far higher taxes than regularly-employed
workers.

They are required to pay both the employee and employer side of
both Medicare and Social Security, have to pay for employee
unemployment insurance, and of course, new Obamcare mandates.

So the fucking nigger has been lying from day one in office.

����������������������������������������������������������������
����������������������������������������������������������������
������������������

Reply all
Reply to author
Forward
0 new messages