Tax Increases! Watch out Below
The new administration’s “Payroll Czar” has just been appointed. The original job description is to oversee and regulate the incomes of employees in companies that got government bailout money. Watch out friends—-if you think that it will stop there—-you are sadly mistaken.
This administration wants to control everyone’s income. Look at the hypocracy. You are not supposed to have company functions in Las Vegas or other cities for that is wasted money. But, it is okay for the President to waste millions of your tax dollars for a Friday Night “date night” in New York.
Most Americans never connect the dots. As Pravda stated, the Russian state newspaper, the Democrats have reached their goal. They have maintained an ineffective education system in the U.S. for over 30 years. They have “dumbed down” America. Americans are more interested and more knowledgeable about “American Idol” than what is going on in the world.
During the campaign Obama stated that only the rich will have an increase in taxes. If anyone with a 3rd grade education had done the math, they would have seen that it was impossible to do that…it was a big lie.
Look at today. The present administration wants to cut the pay that top executives make. Remember, the top 20% of income earners pay 86% of all taxes.
Let’s say a person is earning $2 million per year. Their total tax rate is now in excess of 50%. Using 50% tax, then this person takes home $1 million and the Government gets $1 million. If the Government reduces a person’s pay to $1 million, then, in order to get the same tax money going into Washington, they will have to tax him @ 100%, i.e., confiscate all of that person’s income. So, with 100% of the money going to the Feds, then, no other money will be spent in the economy…more recession. By the way, I have not included all the new spending that is planned In this “ tax the rich scheme”.
Now, tell me, would you go to work knowing all your pay will be confiscated? That is socialism at its best.
Well, they could tax people at 120% of their pay! What?
Watch out below!