Showing posts with label tcot. Show all posts
Showing posts with label tcot. Show all posts

Thursday, August 30, 2012

Obama's faded poster mentioned in Paul Ryan's GOP convention speech.

Showcasing the imagery of the faded Obama poster mentioned in Paul Ryan's GOP convention speech last night.
"I can't take 4 more years of this"

Thursday, March 18, 2010

Heath-Care Corruption Dividing the Country and Democrats

A nation in Political turmoil.
Circumvention is King with Obama's administration
DON'T MISS THIS VIDEO LINK http://ow.ly/1o6ds

The facts don’t matter. The trillion-dollar debt doesn’t matter. And none of those Democrats in Congress understands the consequences of this bill.http://bostonherald.com/news/opinion/op_ed/view/20100318dose_of_truth_for_obama/

PLEASE CONTACT your congressman on the Health-care fence. Useful information is attached


Short & Sweet, regarding your consideration of the proposed Health-care bill:
I hold you ACCOUNTABLE for the quality of the coverage, its expense and morality and it's CONSTITUTIONALITY (that you've been sworn to uphold.) http://ow.ly/1nToH

Tuesday, March 16, 2010

Thursday, November 5, 2009

Paying for Washington's Mistakes



Paying For Washington's Mistakes
IBD Editorials: Posted 11/03/2009 06:51 PM ET

Taxation: Policymakers piled up a $1.4 trillion deficit for fiscal 2009. The figure is so high that if Congress were to use the income tax to balance the budget, rates would have to be nearly tripled.

The 2009 deficit was larger than the combined federal debt of the first two centuries of the country's existence. As staggering as that is to the mind, the 2010 deficit projects to be even bigger, roughly $1.5 trillion.

Unless Washington issues another foolish stimulus package or decides it will continue its ill-advised bailout business, the deficits should moderate somewhat. But the debt created by the deficits will still have to be paid. Ultimately, taxpayers will have to satisfy Washington's massive tab.

While it's unlikely policymakers would try to use income tax revenues — which provide almost half of all federal revenues — to close the deficits, it's instructive to see how high the rates would have to go to do that. Data from the Tax Foundation show this Congress and administration are poor stewards of other people's money and are failing their constitutional duty to protect the future of the republic.

The biggest hit in a world in which Washington bridged the budget gap with income tax revenues would be, naturally, on those who have the largest incomes.

The rates for joint filers earning at least $373,601 would have to be almost tripled, from 35% to 95.2%, to help close the 2010 deficit. (See table.) Though the brackets are at different income levels, the rate progressions are the same for single filers.

The rates would not be as punitive in 2012, when the deficit is smaller, but they would still be excessive. Those at the top of the income scale would be moved from 39.6%, the rate that will be reinstated after the Bush tax cuts expire, to 74.1%.

Those on the lowest end of the income scale would not fare much better. Their rates would have to jump from 10% to 27.2% to help eliminate the 2010 deficit, and from 10% to 18.7% to help close the 2012 deficit.

In terms of overall tax bills, the increases are just as alarming.


The average tax bill for a joint return in 2010 will be $7,169. If the deficit were to be closed, however, the federal government would have to have an average of $19,001 from each couple filing jointly (See table). For joint filers with taxable incomes from $50,000 to $75,000, the tax bill would triple, from $4,208 to $12,537.