Analyst's note: Absolutely must read. The clock is ticking while Mr. Obama remains silent on what is coming to America's "main street." All indications are that Mr. Obama and other progressives (socialist & Marxists) look forward to implementing a form of "fairness" that will result from the biggest tax hike .... $494 billion ... in America's history.
What is coming may not, by his own admission, be Mr. Obama's priority, but in 271 days (Jan 1st, 2013) it will become a priority for the surprised American taxpayer. Are our businesses, families, and investors preparing for this massive tax increase that will hit them on New Year's Day 2013? I'm not hearing anything from Congress, are you? Please read the entire original article.
[....] Despite all the warnings, President Barack Obama has kept his silence while Congress has made no apparent effort to prevent this impending calamity to families and the economy. The prevailing wisdom is that “something will get done” in a lame duck session of Congress after the election. But why wait? And why after the election?
[....] The tax man won’t draw his billions from the American taxpayer with just one big needle — the massive tax increase will be the product of tax policies expiring in seven different categories, on top of five new Obamacare tax hikes taking effect. In a new paper, Taxmageddon: Massive Tax Increase Coming in 2013, Heritage’s Curtis Dubay details the tax hikes that will occur if President Obama and Congress do not act before the end of the year
[....] in a speech in Washington on Tuesday, President Obama unabashedly revealed that preventing tax hikes is not his priority. In fact, he wants to see even more taxes imposed on the American people and on job creators all in the name of “fairness” — may of which are in his budget. That’s a political doctrine, not an economic policy, and it’s a proven recipe for economic disaster. [....]"