Apparently this REALLY IS a well disguised tax hike.
No one not familiar with the way Washington “works” would be able to spot it, but the key is that it uses the existing tax laws as the base. The Bush tax hikes expire at the end of 2012, and this makes sure they do, in fact expire.
In other words, since Obama will be the President at the end of 2012, and until January 20th, 2013, he will be the President at the time this would kick into effect even if he is not re-elected. He would certainly veto any attempt to repeal this.
The only way to stop the tax hike would be to retroactively repeal the hike after the new President and Congress was sworn in. If the dems retain 41 seats or more in the Senate, which is likely, they would be able to block any repeal.
It also messes with the AMT, making it much worse. I haven’t had time to get the details on that.
In other words, this thing raises taxes A LOT. It is, indeed, a very clever trap.
“at the end of 2012..”.....2013
Right in time (planned) for the new “Stamp Act” this “Stamp Act” not levied through all print material, but instead levied directly against the human body, every-BODY...
The “Vampire-Care-Stamp-Act, against the temple of the Holy Spirit. Against every-BODY....What effects the body? EVERYTHING. The new overt “work-camps.”
And watch for new business regulations through this, such as all employees must be retained without direct govt. approval. “Work-camps.”
“Thou Shall Not Steal” Exodus 20:15
“Know ye not that the body is the temple of the Holy Spirit....”