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U.S. News and Commentary



Friday
Oct192012

Why Reid and Obama want to toss you off the fiscal cliff: ObamaCare waivers and gold


President Barack Obama and his cohort Sen. Harry Reid are about to drive the car, the wheelchair and the bicycle over a fiscal cliff.

Obama, always fond of diktats, declared he will veto any bill that doesn’t take more money from those he and Reid call “wealthy”─$200 thousand a year is the benchmark for these two Democrats the Occupy Wall Street kids could legitimately call ‘One Percenters.’

Why do Obama and Reid want to shove a tax hike down our throats? Two reasons are gold and ObamaCare Tax Bill waivers.

Say goodbye to thousands of small businesses who file as proprietorships.

Obama and Reid have never accepted what voters told Washington in 2010—their policy is devastating the lower and middle income quintiles. These two Democrats have obstructed Republicans who control the U.S. house at every opportunity.

Tax hikes don’t help the deficit or the debt

Republicans should hold their ground. Why didn’t Reid and Obama hike taxes when Democrats had absolute control of Congress, the Senate and the Oval Office? They didn’t want to take the political hit they knew would follow. Obama and Reid are setting House Republicans up to take a fall.

Each time a president and Congress hiked taxes—from the time Jimmy Carter was president—they spent more.

This is a government that needs a realistic limit on the credit card. Don’t you have spending limits?

There are numerous ways to cut spending and they will not impact our daily lives.

Why Reid and Obama want more of our money

The $80 billion Obama and Reid flushed down the drain on crony energy deals has a minimum 10 percent failure rate; the list at Heritage includes companies that are doing well on their own but after seeing the money tree, took taxpayer money to fatten their corporate coffers. Of the recipients of our tax money, Heritage said that “36 companies that have received federal support from taxpayers have either gone bankrupt or are laying off workers and are heading for bankruptcy.”

Sen. Tom Coburn did a study, Back in Black, and found $9 trillion in potential savings. Obama didn't give him the time of day; nor did Reid.

Obama and Reid also want more money because they know they have to cover the cost of the ObamaCare Tax Bill. More than 1,000 waivers were granted, many of them long-term to Labor Unions who complained about paying the Cadillac Tax on generous insurance benefits.

Reid’s home state of Nevada actually got a waiver for the healthcare tax bill he and Obama forced on the rest of us.

Someone has to replace that lost tax money Democrats said would help pay for the ObamaCare Tax Bill—Obama is looking out for the Northeastern and Chicago union bosses and we taxpayers will be looted to benefit them.

Even if you're a union worker, your victory will be empty. It's hard to bargain for wages when there's no company to pay them out.

A warning to errant Republicans and to every American

Speaker of the House John Boehner (R) should bear in mind what voters told Washington in November, 2010. Americans do not favor tax hikes, other than Americans who have bought into rhetoric dispensed by Reid and Obama. I suspect most who want a tax hike don’t pay income taxes and I’d wager the wealthy who want tax hikes take all the deductions and credits they can get their hands on.

After warning our readers for two years, I was somewhat heartened to see the Associated Press admit those “Bush tax cuts for the wealthy” didn’t just benefit the wealthy.

Obama got a spending allowance of more than $800,000,000,000 in his Stimulus. The Weekly Standard said Obama is four reports behind on telling Americans where our money went. TWS said, in 2010, “for every $148,000 in taxpayer money that had gone out the door, only one job had been added or saved — according to an estimate from Obama’s own economists.”

Nevada’s other sweetheart deal—gold

Reid is as big a tax hypocrite as Obama. While railing about tax hikes, Reid doesn’t want his own state to be impacted. Nevada is the fourth largest producer of gold in the world. Here’s what no other media like to talk about; I wrote this in 2011:

[As] reported by International Business Times in January, 2011:

“Unlike coal and oil extraction, where mining companies pay royalties for minerals obtained from public land, gold mining companies do not pay any royalties for deposits claimed on federal public lands as mines on public land continue to operate under the General Mining Act of 1872.”

Last time I looked, gold was doing just fine. Therefore, we can find immediate money in those gold mines in Nevada—make them pay royalties. Federal public lands belong to the taxpayer.

Where’s Main Street’s “fair share” of that?

Obama will gladly toss us off that cliff

Obama is making a political calculation that he can put a wall between the House and the rest of government and still get what he wants. If we go over the fiscal cliff, he still gets to spend. If we don’t, on his terms, he gets the tax hike. He still gets to spend.

This is a president whose policies have taken more than $4,000 in median income from each American household.

Furthermore, Obama and Reid already got approximately 21 tax hikes, most of them in the ObamaCare Tax Bill.

I wrote this in 2010 after the Associated Press ‘fessed up:

[T]hose ‘Bush Tax Cuts’ (allegedly) ‘for the wealthy’ did indeed, the Associated Press now confirms, lower “marginal income tax rates at every level.”

Here’s the lead from a 2012 Associated Press story about the lie Democrats call “Bush tax cuts for the wealthy”:

A typical middle-income family making $40,000 to $64,000 a year could see its taxes go up by $2,000 next year if lawmakers fail to renew a lengthy roster of tax cuts set to expire at the end of the year, according to a new report Monday.

Add in the fact that for married couples, the marriage penalty will return. Bush was the only president to address that ripoff. If you’re married, you’ll pay more taxes as Reid and Obama push you off that fiscal cliff.

How do we fix it?

The only solution to the fiscal cliff is to return the Senate and the White House to Republican control. Reid and Obama will not change and they will not reach across the aisle.

Republican nominee Mitt Romney is probably the only leader I know who will actually roll up his sleeves and address our serious fiscal problem.

The day will come when EBT cards run dry. At that point, something will need to be done because our country will look like Greece. The money tree is going to splinter and when it does, the U.S. will splinter as well.

No politician advocating a tax hike deserves your vote in November. If you do vote for a tax hiker, just head down to a public street and start tossing your money onto the curb.

Obama told Republicans there's no way he'll work with them on the fiscal train wreck by taking a stand without even talking to Boehner.

Issuing a diktat is not a sign of leadership; it is a mark of tyranny.

 (Analysis by Kay B. Day/Oct. 19, 2012)

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