0bama's Plan to Tax the Hell Out of Us

If for some wacky reason you are contemplating voting for 0bama, and that is your right, make sure you know what it is you are voting for- HIGHER TAXES.  If your household makes more than $250,000, you will be considered rich and get walloped on April 15th.  Think about that for a family with three kids, as many couples I know have...  Two incomes. A mortgage. Two car payments. Five mouths to feed. Three college educations to save for. While it's not poverty level by any stretch of the imagination, it also is not "wealthy" when you consider what the truly rich people earn (you know, athletes, singers, actors, rappers, CEO's, etc.) which is in the millions, annually.  Yet a fraction of that- $250K- is to be considered rich?  And I didn't even pain the scenario of owning a small business, which is what Mike Pancier covered in this excerpt.  Read on...

From Mike Pancier at Babalublog:

"It is no secret; Obama has said it himself. He is going to hike the income tax something fierce. With him simply doing nothing, the tax rates are going to rise to 1994 levels and then he wants to whack even more households with income over $ 250K. All the narrow-minded short-sided liberals love this "soak the rich" concept. But it is moronic and will hurt not the rich but small businesses. You see folks. Small business are the bread and butter of the US Economy. Most small business are S-Corps. The S-Corp. income passes through onto your personal income tax return as a K-1. So even if you didn't take everything out of the corporation because say you want to invest in growth and the future, the individual taxpayer will be taxed on that income. Thus it is very easy to reach that $ 250K threshold. And frankly, to say that $250K is rich is perverse. Those in this bracket already have all exemptions and deductions phased out. So you are literally getting taxed up the ying yang. Moreover, if you live in states like California and New York, coupled with the state income tax, as reported in the WSJ today, your tax rates will be akin to those in France as high as 60%.

All I know is under a Barack "Taxman" Administration assuming all things equal, my taxes will go up by $8K a year. So in 4 years, these wankers will suck out at least $ 32K out of my pocket of my hard work. Unlike Obama who lives off of book royalties probably drives a Benz and sends his kids to expensive private schools, I have to work. I work my ass off. I'm not friggin rich. Yet these constipated liberals think that by giving me the royal screw in the tune of $ 32K in 4 years is going to make the country and me better off? So if I work harder, I'm going to get whacked by the government even more. I could use that money for my retirement or to purchase goods and services (which helps the economy Mcfly). But Obama and his liberal lackey neo-socialists think they know better than me in how I should spend and use my hard earned money."

You can read more HERE.  Folks, we are gonna get screwed.