Massachusetts legislators have already dedicated almost $38 million towards the Edward M. Kennedy Institute for the United States Senate - yes, that's really what it's called. I call it the Edward M. Kennedy Shrine to Pork. During Kennedy's reign he pushed through enough pork to fill the trough to overflowing.
And this year his family is coming back for even more piggy funds -- I do believe they think of it as an entitlement - they want another $30 million in TAXPAYER funds to spend on the Shrine.
And this is during the worst recession in American history. The rich and powerful are at it again -- gimme, gimme, gimme.
The Kennedy family is rich, rich, rich. They have ubber rich friends. They should get ALL funding for the Shrine from their friends or their own bank accounts -- NOT THE BELEAGUERED TAXPAYERS - who, according to the CBO yesterday, are getting slapped with another $1.5 trillion in debt for 2011, thanks to millions of PORK projects just like the Kennedy Shrine.
We are at the tipping point, off the cliff, under water, call it what you want. We are BROKE. And no money should be spent on this Shrine or any other project that is not Constitutionally mandated. Be sure to enter your protest to the Kennedy Shrine at this link.
CLICK HERE TO PROTEST THE KENNEDY SHRINE!
Showing posts with label rich. Show all posts
Showing posts with label rich. Show all posts
Thursday, January 27, 2011
Sunday, September 12, 2010
TAX TSUNAMI # 1 - DEATH TAX TO DIE FOR
On January 1, 2011, the largest tax hikes in the history of America will take effect and drive us deep into a depression. You think unemployment of 9.6% is high? Just wait 6 months. It will be higher, much higher.
These taxes will affect EVERYONE, families, farmers, seniors, small businesses, and big businesses, so don't let the political cronies in Washington try to tell you that they will affect "only the rich." That is an outright LIE, and they know it.
FIRST TAX TSUNAMI: Expiration of the 2001/2003 Tax Relief Act (referred to as the Bush Tax Cuts). In those years the GOP controlled Congress enacted many tax cuts for investors, small businesses and families. They will all expire on January 1. This is what it means to you, middle income average Americans already struggling to support your families, and to you, seniors living on a fixed income.
PERSONAL INCOME TAX RATES WILL RISE. It's the truth. Don't listen to the denials coming out of the mouths of the propagandists in Washington. The top rate increases from 35% to 39.6%. The lowest rate increases from 10% to 15%. All rates in between will also increase as indicated in this chart.
10% rises to 15%
25% rises to 28%
28% rises to 31%
33% rises to 36%
35% rises to 39.6%
No matter where you currently fall in this rate structure, your taxes are going UP, families, seniors, small and large businesses, everyone.
Itemized deductions and personal exemptions will phase out, which has the same effect as higher tax rates. You lower exemptions and deductions? You pay more taxes, simple enough math even for the Washington idiots who are going to allow this to happen. Oh, I almost forgot, many of the people currently running the Washington machine are "tax cheats." They don't care that we will pay more so they can cheat and pay less.
The "Marriage Penalty" will return from the first dollar of income, meaning married couples will pay higher tax on the same income as a single person does. Sure seems fair, doesn't it?
The Standard Deduction will no longer be doubled for married couples relative to the single person deduction.
The Child Tax Credit of $1000 will return to the pre-2001/2003 rate of $500. Pay attention, anyone who has children. The reduction in this credit will cost you dearly, $500 less for each child you have. Sure hope you didn't have your 2010 payroll withholding figured based on getting $1000 credit for each child. If so, you may be in for a big surprise when you prepare your 2010 return. It could mean the difference between you getting a refund at the end of the year, or owing Uncle Sam money at the end of the year.
The Dependent Care and Adoption Tax Credits will be cut drastically.
And another Big One, the return of the Death Tax.
Under the 2001/2003 Tax Relief Act the Death Tax was phased out. But it's coming back Big Time. Starting 1/1 the rate goes to 55% on estates over $1 million. If you have two homes, a retirement account, a business, business real estate, a farm, investment properties, rentals, stocks, bonds, savings, any combination of these could easily put you over $1 million. After 1/1/2011 your heirs may have to sell your assets, the farm, the business, etc., just to pay the Death Tax. Even if the farm or business is their livelihood, too bad, Uncle Sam is going to want up to 55% of its value over $1 million upon your death.
Here is an easy calculation. Let's say your estate is worth $1.5 million. The half million over the $1 million is subject to 55% tax. You will owe $275,000 in cash to the government, 55% of the value of the assets over $1 million. That will be your estate tax. Can you just "write a check" to cover this. Not likely. Assets would have to be sold quickly at fire sale prices just to cover the tax. This is why the Death Tax Phase Out was included in the 2001/2003 Tax Relief Act in the first place. It is patently unfair to tax someone literally To Death after they have paid taxes on all they have while they were alive. So if you are going to DIE, do it NOW before January 1.
And the last part of the FIRST TAX TSUNAMI?
Capital Gains Tax will rise from 15% to 20%. (Don't dare sell anything that creates a Capital Gain or it will cost you)
Dividend Tax will rise from 15% to 39.6% in 2011 and rise again to 43.4 in 2013. (Don't receive any dividends from stocks, bonds, etc. or it will cost you over double) This is especially onerous to seniors who are living on the dividends from investments. This will affect millions of Baby Boomers about to retire.
And let me add that this is just the FIRST TAX TSUNAMI coming at us on 1/1/2011. I will bring you more information in later blogs on the subject of additional taxes we are facing in 2011.
This government is the robber, the rapist and the killer of our entire economic system. That is, unless we stop them in November.
These taxes will affect EVERYONE, families, farmers, seniors, small businesses, and big businesses, so don't let the political cronies in Washington try to tell you that they will affect "only the rich." That is an outright LIE, and they know it.
FIRST TAX TSUNAMI: Expiration of the 2001/2003 Tax Relief Act (referred to as the Bush Tax Cuts). In those years the GOP controlled Congress enacted many tax cuts for investors, small businesses and families. They will all expire on January 1. This is what it means to you, middle income average Americans already struggling to support your families, and to you, seniors living on a fixed income.
PERSONAL INCOME TAX RATES WILL RISE. It's the truth. Don't listen to the denials coming out of the mouths of the propagandists in Washington. The top rate increases from 35% to 39.6%. The lowest rate increases from 10% to 15%. All rates in between will also increase as indicated in this chart.
10% rises to 15%
25% rises to 28%
28% rises to 31%
33% rises to 36%
35% rises to 39.6%
No matter where you currently fall in this rate structure, your taxes are going UP, families, seniors, small and large businesses, everyone.
Itemized deductions and personal exemptions will phase out, which has the same effect as higher tax rates. You lower exemptions and deductions? You pay more taxes, simple enough math even for the Washington idiots who are going to allow this to happen. Oh, I almost forgot, many of the people currently running the Washington machine are "tax cheats." They don't care that we will pay more so they can cheat and pay less.
The "Marriage Penalty" will return from the first dollar of income, meaning married couples will pay higher tax on the same income as a single person does. Sure seems fair, doesn't it?
The Standard Deduction will no longer be doubled for married couples relative to the single person deduction.
The Child Tax Credit of $1000 will return to the pre-2001/2003 rate of $500. Pay attention, anyone who has children. The reduction in this credit will cost you dearly, $500 less for each child you have. Sure hope you didn't have your 2010 payroll withholding figured based on getting $1000 credit for each child. If so, you may be in for a big surprise when you prepare your 2010 return. It could mean the difference between you getting a refund at the end of the year, or owing Uncle Sam money at the end of the year.
The Dependent Care and Adoption Tax Credits will be cut drastically.
And another Big One, the return of the Death Tax.
Under the 2001/2003 Tax Relief Act the Death Tax was phased out. But it's coming back Big Time. Starting 1/1 the rate goes to 55% on estates over $1 million. If you have two homes, a retirement account, a business, business real estate, a farm, investment properties, rentals, stocks, bonds, savings, any combination of these could easily put you over $1 million. After 1/1/2011 your heirs may have to sell your assets, the farm, the business, etc., just to pay the Death Tax. Even if the farm or business is their livelihood, too bad, Uncle Sam is going to want up to 55% of its value over $1 million upon your death.
Here is an easy calculation. Let's say your estate is worth $1.5 million. The half million over the $1 million is subject to 55% tax. You will owe $275,000 in cash to the government, 55% of the value of the assets over $1 million. That will be your estate tax. Can you just "write a check" to cover this. Not likely. Assets would have to be sold quickly at fire sale prices just to cover the tax. This is why the Death Tax Phase Out was included in the 2001/2003 Tax Relief Act in the first place. It is patently unfair to tax someone literally To Death after they have paid taxes on all they have while they were alive. So if you are going to DIE, do it NOW before January 1.
And the last part of the FIRST TAX TSUNAMI?
Capital Gains Tax will rise from 15% to 20%. (Don't dare sell anything that creates a Capital Gain or it will cost you)
Dividend Tax will rise from 15% to 39.6% in 2011 and rise again to 43.4 in 2013. (Don't receive any dividends from stocks, bonds, etc. or it will cost you over double) This is especially onerous to seniors who are living on the dividends from investments. This will affect millions of Baby Boomers about to retire.
And let me add that this is just the FIRST TAX TSUNAMI coming at us on 1/1/2011. I will bring you more information in later blogs on the subject of additional taxes we are facing in 2011.
This government is the robber, the rapist and the killer of our entire economic system. That is, unless we stop them in November.
Wednesday, September 8, 2010
DemoBrats and the Blame Game
Did you notice in his speech yesterday that Obama continues to blame the Republicans for the mess we are in and accuses them of working for Special Interests?
Well, the big question is, who gave the banks all that cash and propped them up? Answer, Bush and Obama. But then, Who bailed out the car companies, housing, Freddie and Fannie, the unions and hundreds of other industries and who has driven our debt to bankruptcy levels? Answer, Obama. And who is going to increase EVERY ONE'S taxes on January 1, 2011? Answer, Obama. The January 1 tax hikes are going to be massive and will hurt every segment of our society. And Obama doesn't care. He has an agenda and the outcome be damned, full speed ahead.
And don't forget the DOUBLE TAX ON ENERGY PRODUCERS that Obama is proposing. You know, we have to "punish" the "rich" energy producing companies. Do you think Obama is smart enough to figure out that all those increased taxes to energy companies will be passed directly on to We The People by increased rates? Surely he knows this because he can't be that ignorant. When you buy gas for your car, heating fuel, electricity, or any of the millions of things that are "petroleum products," you will feel the pinch. Thank you, Mr. Obama. And it's not as if Americans have extra money to spend on increased rates. Millions of Americans don't even have JOBS, much less EXTRA CASH. Thanks again, Mr. Obama and your pals in Congress.
He's been the captain of the ship for 19 months now and he still doesn't understand that our mess is his fault. How can anyone not notice that he is a pathological liar? How can he say his new $50 billion bill will give small businesses incentives to hire, when at the same time, the bill is full of job killing regulations? His $800 billion stimulus bill didn't work, so why would a new stimulus bill work? Is he really that dumb? All I see is more companies leaving, taking millions more jobs with them.
He and the DemoBrats need to be stopped in November. If Conservatives gain the majority in both houses, then Obama will be shut down until 2012 and hopefully they can start to undo some of the damage he's done.
So I say to him, "Mr. Obama, Americans are disgusted with the "blame game" and with all of you. Based on your first 19 months we are terror-stricken thinking of how much additional damage you can do in the next two years. If you knew anything about being President, you would LEAD. Instead you just BLAME and SPEND and then BLAME and SPEND some more, and then BLAME someone else for all of it. November? That's when we shut you down. Good Riddance to you and as many of your DemoBrats that we can get rid of!"
Well, the big question is, who gave the banks all that cash and propped them up? Answer, Bush and Obama. But then, Who bailed out the car companies, housing, Freddie and Fannie, the unions and hundreds of other industries and who has driven our debt to bankruptcy levels? Answer, Obama. And who is going to increase EVERY ONE'S taxes on January 1, 2011? Answer, Obama. The January 1 tax hikes are going to be massive and will hurt every segment of our society. And Obama doesn't care. He has an agenda and the outcome be damned, full speed ahead.
And don't forget the DOUBLE TAX ON ENERGY PRODUCERS that Obama is proposing. You know, we have to "punish" the "rich" energy producing companies. Do you think Obama is smart enough to figure out that all those increased taxes to energy companies will be passed directly on to We The People by increased rates? Surely he knows this because he can't be that ignorant. When you buy gas for your car, heating fuel, electricity, or any of the millions of things that are "petroleum products," you will feel the pinch. Thank you, Mr. Obama. And it's not as if Americans have extra money to spend on increased rates. Millions of Americans don't even have JOBS, much less EXTRA CASH. Thanks again, Mr. Obama and your pals in Congress.
He's been the captain of the ship for 19 months now and he still doesn't understand that our mess is his fault. How can anyone not notice that he is a pathological liar? How can he say his new $50 billion bill will give small businesses incentives to hire, when at the same time, the bill is full of job killing regulations? His $800 billion stimulus bill didn't work, so why would a new stimulus bill work? Is he really that dumb? All I see is more companies leaving, taking millions more jobs with them.
He and the DemoBrats need to be stopped in November. If Conservatives gain the majority in both houses, then Obama will be shut down until 2012 and hopefully they can start to undo some of the damage he's done.
So I say to him, "Mr. Obama, Americans are disgusted with the "blame game" and with all of you. Based on your first 19 months we are terror-stricken thinking of how much additional damage you can do in the next two years. If you knew anything about being President, you would LEAD. Instead you just BLAME and SPEND and then BLAME and SPEND some more, and then BLAME someone else for all of it. November? That's when we shut you down. Good Riddance to you and as many of your DemoBrats that we can get rid of!"
ALL AMERICANS NEED TO REMEMBER THE LAST 19 MONTHS
AND GET TO THE POLLS IN NOVEMBER.
TAKE BACK AMERICA WITH YOUR VOTE.
IT'S ALL WE HAVE.
Sunday, August 29, 2010
OBAMA SENDS MILLIONS IN FOREIGN AID TO OUR ENEMIES
Here is an example of what the Obama administration has approved in foreign aid. This is from a summary of a report issued by David Obey, D-WI, who is on the Appropriations committee. Mr. Obey has control over how this money is spent. A summary was quietly released by Obey's office last week without a word from any media.
$3.6 billion to expand and improve Afghan security forces
$400 million (requested amount) to improve Pakistani security forces (they hate us)
$1.52 billion as a straight up payment to Afghanistan ($86 million above the requested amount)
$665 million for security assistance in the West Bank and Gaza (Gaza=Hamas) (They hate us)
$250 million to Jordan for economic assistance ($250 million above requested amount) (Aren't they an oil producer?)
$360 million to Egypt ($310 million above requested amount) to expand over-site capacity of the State Department (What in the heck does that mean?)
$74 million to Lebanon for undisclosed purpose (They hate us)
$343 million ($50 million above requested amount) for humanitarian assistance for Gaza (Remember, Gaza=Hamas) (They want us dead)
$200 million for natural disasters for Somalia, Zimbabwe, Ethiopia, Middle East and South Asia (While 3/4 of the homes destroyed by Katrina in New Orleans are still not repaired and no one is living in them. WE HAVE OUR OWN NATURAL DISASTERS TO DEAL WITH!)
$837 million to the United Nations for "peacekeeping operations." Much of this money will likely end up in the hands of UN upper management personnel. Check it out. The UN is as corrupt as many of the nations it allegedly serves.
$17 million for the Iraqi criminal justice system (Another oil rich nation)
Check this information at the following site:
www.thenews.com.pk/top_story_detail.asp
Would it help to beg him to spend these dollars here putting Americans back to work? I doubt it .
$3.6 billion to expand and improve Afghan security forces
$400 million (requested amount) to improve Pakistani security forces (they hate us)
$1.52 billion as a straight up payment to Afghanistan ($86 million above the requested amount)
$665 million for security assistance in the West Bank and Gaza (Gaza=Hamas) (They hate us)
$250 million to Jordan for economic assistance ($250 million above requested amount) (Aren't they an oil producer?)
$360 million to Egypt ($310 million above requested amount) to expand over-site capacity of the State Department (What in the heck does that mean?)
$74 million to Lebanon for undisclosed purpose (They hate us)
$343 million ($50 million above requested amount) for humanitarian assistance for Gaza (Remember, Gaza=Hamas) (They want us dead)
$200 million for natural disasters for Somalia, Zimbabwe, Ethiopia, Middle East and South Asia (While 3/4 of the homes destroyed by Katrina in New Orleans are still not repaired and no one is living in them. WE HAVE OUR OWN NATURAL DISASTERS TO DEAL WITH!)
$837 million to the United Nations for "peacekeeping operations." Much of this money will likely end up in the hands of UN upper management personnel. Check it out. The UN is as corrupt as many of the nations it allegedly serves.
$17 million for the Iraqi criminal justice system (Another oil rich nation)
Check this information at the following site:
www.thenews.com.pk/top_story_detail.asp
Would it help to beg him to spend these dollars here putting Americans back to work? I doubt it .
November is fast arriving.
Vote, Vote, Vote
IT'S A PRIVILEGE, IT'S A RIGHT, IT'S YOUR DUTY!
Tuesday, August 10, 2010
The Refinance Train Wreck
Just in time for the November elections, Obama has proposed to "refinance" 15 million mortgages that are currently under water. Cost? 800 billion dollars. Also contained within the proposal is a plan to relax qualifying standards for home loans so people who don't qualify suddenly qualify. Isn't that what got us into the current housing mess?
I believe the American public is too smart to fall for this. Nothing is "free." The fun and games must end. Someone has to pay for this, and it won't be the "rich," it will be our kids and grandkids. This is a carrot being dangled in front of you, but it will enslave future generations to outrageous taxes. It's a slow motion train wreck waiting for the crash, and the crash is guaranteed to happen. Don't Fall For This At Election Time! Please!!
I believe the American public is too smart to fall for this. Nothing is "free." The fun and games must end. Someone has to pay for this, and it won't be the "rich," it will be our kids and grandkids. This is a carrot being dangled in front of you, but it will enslave future generations to outrageous taxes. It's a slow motion train wreck waiting for the crash, and the crash is guaranteed to happen. Don't Fall For This At Election Time! Please!!
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