Skip to comments.Sequestration AND Tax Hikes in 2nd Term???
Posted on 10/25/2012 12:38:17 PM PDT by ChinaGotTheGoodsOnClinton
Anyone hear what Rush said at the end of his show?
That 0bama will let the Bush tax cuts expire and the sequestration cuts of over a trillion of defense to occur as his economic plan?
Rush said this was on 0bamma's website.
Man if true that would be economically devastating.
I’ve always thought that Obama would find a reason to veto any extension of the Bush tax cuts, AND allow the fiscal cliff to happen. Republicans were idiots to allow the sequestration to pass.
If we let him be reelected, it's exactly what we deserve.
“In an early exchange during Monday nights presidential debate about foreign policy, President Obama confidently predicted that across-the-board cuts to defense and domestic spending scheduled to kick in early next year wont take effect.
It will not happen, Obama said about so-called sequestration the automatic, arbitrary spending reductions Congress passed during the debt limit fight last summer.”
GUESS HE LIED
-The 10% bracket rises to a new and expanded 15%
-The 25% bracket rises to 28%
-The 28% bracket rises to 31%
-The 33% bracket rises to 36%
-The 35% bracket rises to 39.6%
Again, here are the presidents words during the debate on the sequestration:
PRESIDENT OBAMA: First of all sequestration is not not something that I proposed. Its something that Congress proposed. It will not happen.
Twenty-four hours later however, President Obama does an interview with the Des Moines Register:
So when you combine the Bush tax cuts expiring, the sequester in place, the commitment of both myself and my opponent at least Governor Romney claims he wants to reduce the deficit are going to be in a position, where I believe, were going to solve that big piece of business.
Its important to point out that this quote from the Des Moines Register was supposed to be off-the-record.
He thought no one would ever hear about it, Stu pointed out. He was talking to reporters to try and form their stories. He did not think that anyone would ever hear those words.
What is Sequestration?
I can see him letting the tax cuts expire and then immediately submitting a replacement that returns the tax cuts to everyone except those Obama doesn't want to give tax cuts to. Then he could probably get enough squishy Republicans to vote for it since it isn't strictly speaking a tax hike.
Draconian defence cuts that will make 1989 and 1970s cuts look like a picnic
You can add in the cost of kenyancare taxes and regulations that will ripple through the economy and devastate it.
And if he's not re-elected, why would he do anything differently? In fact, he has every incentive, aside from pure spite for losing, to let them expire and have the defense cuts because that's what the RATS want and they know the new Congress will have a very difficult time putting back all the tax and defense cuts.
This mess is not from sequestration, but from the RINOs insisting on making the Bush tax cuts non-permanent in the first place. Sequestration, and its 50% focus on defense, just compounds that screwup.
Taxes and sequestration begin when ?
Even if zero is blown out at the polls,
he is still pres__ent until January 20, 2013.
Taxes and sequestration begin when ?
obamma will have no accountability to no one, if he is re-elected. You think the first term was brutal. Wait until the second term happens. He could care less about members of his own party, unless they toe the line he draws.
For the Economically Challenged (yeah..like me) how do those numbers translate into dollar amounts?
For example, what line on my 1040 would I look at and say “this is what would increase”?
Boiling it down to this would help me tell others “This is what it means to you! This is how it’s gonna make it harder for you to feed your kids!”
It was part of the debt ceiling deal and would only happen if the super committee failed to come to agreement. they did.
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