Skip to comments.President Obama's Perfect Plan For The Economic Decline Of America
Posted on 06/22/2012 5:07:03 AM PDT by SeekAndFind
Last week on June 14, President Obama announced his economic plan to finally bring economic recovery and growth to the U.S. in a much ballyhooed address in Cleveland. He threw down the gauntlet to Mitt Romney on the issue, saying more than anything else, this election presents a choice between two fundamentally different visions of how to create strong sustained growth; how to pay down our long term debt; and most of all, how to generate good, middle-class jobs .
Truer words have never been spoken by the President. So lets examine the two fundamentally different visions and see which can produce strong sustained growth, pay down our long term debt, and generate good, middle class jobs.
Under President Obamas plan, on January 1 of next year the top tax rates of virtually every major federal tax will increase, as already enacted under current law. That is because the tax increases of Obamacare would go into effect, and the Bush tax cuts would expire, which Obama refuses to renew for singles making over $200,000 a year, and couples making over $250,000. The English translation of that target for the tax increases is the nations small businesses, job creators and investors.
As a result, with the Bush tax cuts just expiring for these targeted taxpayers, the top 2 income tax rates would jump by nearly 20%, the capital gains tax would soar by nearly 60%, the tax on dividends would nearly triple, the Medicare payroll tax would skyrocket by 62% for the above disfavored taxpayers, and the top death tax rate would rise from the grave to 55%.
That is all on top of the highest corporate tax rate in the industrialized world at nearly 40%; counting the federal corporate rate of 35% and state corporate rates on average.
(Excerpt) Read more at forbes.com ...
This is all Romney should say from today forward.
Medicare payroll tax would skyrocket by 62% for the above disfavored taxpayers, and the top death tax rate would rise from the grave to 55%.
Democrats helping the poor man again.
And yet 40% of the American public apparently wants him back!
P.T. Barnum would be envious.
He must have had the obamaBots in mind when he sang this in the musical:
There is a sucker born every minute
Each time the second hand sweeps to the top
Like dandelions up they pop,
Their ears so big, their eyes so wide.
And though I feed em bonafide baloney
With no truth in it
Why you can bet Ill find some rube to buy my corn.
Cause theres a sure-as-shooting sucker born a minute,
And Im referrin to the minute you were born.