Analyst's note: Absolutely must read. The full impact of "change," "hope," and "transformation" are now coming into focus. We are now seeing the impact of our uncertain future as a result of this "grand" socialist experiment with the redistribution of our wealth.
The stimulus has failed and now we discover that Obamacare will cost us more than $1 trillion dollars. Once again we also find that we are being taxed if we die. That tax is heaped upon us and those who survive by wringing additional money out of our pockets on that which we've already paid taxes over the course of our lifetime. To those politicians who make their living by redistributing our wealth, this I suppose only seems fair. It does give a whole new meaning to the statement, "You can't take it with you."
We also find that in addition to the coming tax increase, to be suffered without a decrease in federal spending, we are even now experiencing a duration of unemployment of the living like none ever before in our history. (We expect to say more about this in future analysis.) We can reason that if more people are earning less money on that which they pay taxes, then those who are still working will be "encouraged" to pay yet even more in the near future. No doubt those at the end of life and "usefulness" will be encouraged to "check out early" in order to save money for those younger workers. As I think about it, this entire scenario is like a bad movie, or maybe a bad dream. When will we wake up? If we fail to do so, then we will experience even worse times ahead.
As voters we have the opportunity to address the question, "How is it working for you?" As for me, I suggest that those elected officials in Washington should be gathering up boxes for their coming relocation. Perhaps they should also "put a little away for a rainy day," because the American people are soon going to stop paying such grand retirement wages to Congressmen for their life of leaching from those of us in the "working class." Remember, they still "work" for us!
"The American people are already well aware of President Barack Obama’s historic expansion of government spending: his $862 billion economic stimulus that has completely failed to keep unemployment below 8% as promised; his still-expanding health care law which the Congressional Budget Office now admits will cost more than $1 trillion; and an Obama budget that increases government spending by $12,000 per household. But all that spending is just the first half of President Obama’s game plan.
The second half of Obama’s attempted transformation began last night when the Senate rejected Sen. Jim DeMint’s (R-SC) effort to end the Death Tax. This year is actually the first year since 1916 that Americans do not have to pay any federal taxes when a family member dies. But thanks to the way Congress had to pass the legislation that phased out the Death Tax in 2001, it is set to go from zero percent to 55 percent at the stroke of midnight on December 31, 2010. The Death Tax is but one of many government taxes on capital and entrepreneurship, and its reinstatement will be yet another job killer from the Obama administration. It rewards estate tax lawyers, insurance companies and big businesses at the expense of small family-owned enterprises. According to a study by the American Family Business Foundation, a full repeal of the death tax, like the one rejected by the Senate last night, would create 1.5 million jobs. Before the vote, Sen. DeMint described the tax as an “unfair, immoral double tax on property and assets that folks have already paid taxes on throughout their lives.” He added: “The Obama death tax is just the latest example of this administration’s assault on small businesses. [....]”
