Tuesday, April 20, 2010

Truth about BHO-Dem regime's tax LIES

Great post at Full Metal Patriot today discussing BHO & the DemoCommie regime's TAX LIES:

"Why would we thank him for raising our taxes?

(Note: Asterisks in the Scripd Doc - and noted below - indicate the tax increases on families earning less than $250,000 a year)

Once again, with Democrats in charge, we're seeing a host of tax hikes. Not only that, but the Obama administration is floating the idea of a new 5% "value-added" tax, too.

I think everyone owes Rep. Joe Wilson a big apology; not only was he right about President Obama's healthcare "reforms" covering illegal immigrants, he was right that Obama is a liar."

Read the full post here:

Democrats Have Increased Taxes by $670 Billion and Counting…
List Includes 14 Tax Hikes Totaling Over $316 Billion on Middle Class Families
April 14, 2010

Since January of 2009, President Obama and Congressional Democrats have enacted into law gross tax increases totaling more than $670 billion, or more than $2,100 for every man, woman and child in the United States. The list of tax increases includes at least 14 violations of the President’s pledge not to raise taxes on Americans earning less than $200,000 for singles and $250,000 for married couples.

  • New tax on individuals who do not purchase government‐approved
    health insurance *
  • New tax on employers who fail to fully comply with government health
    insurance mandates*
  • New 40% excise tax on certain high‐cost health plans *
  • New ban on the purchase of over‐the‐counter drugs using funds from
    FSAs, HSAs and HRAs*
  • Increase the Medicare tax on wages and self‐employment income by
    0.9% and impose a new 3.8% surtax on certain investment income (for
    individuals over $200,000 and couples over $250,000)
  • Increase, from 7.5% to 10% of income, the threshold after which
    individuals can deduct out of pocket medical expenses*
  • Impose a new $2,500 annual cap on FSA contributions *
  • New annual tax on health insurance *
  • New annual tax on brand name pharmaceuticals *
  • New 2.3% excise tax on certain medical devices *
  • New 10% tax on indoor UV tanning services *
  • New tax on insured and self‐insured health plans *
  • Double the penalty for non‐qualified HSA distributions *
  • Eliminate the deduction for expenses allocable to Medicare Part D
  • Limit the deduction for compensation to officers, employees and
    directors of certain health insurance providers
  • Require information reporting on payments to corporations
  • Impose additional requirements for section 501(c)(3) hospitals
  • Make “black liquor” ineligible for cellulosic biofuel producer credit
  • Codify economic substance doctrine and impose penalties for
  • Other revenue effects
  • Tobacco tax increase and expanded enforcement authority *
  • Repeal guidance allowing certain taxpayers to claim losses of an
    acquired corporation
  • Federal Unemployment surtaxes extended through June 2011 *
  • Delay of rules to reduce the double taxation of worldwide American
    employers until 2018 (worldwide interest allocation)
  • Delay of rules to reduce the double taxation of worldwide American
    employers until 2021 (worldwide interest allocation)

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