President George H.W. Bush lost the presidency because he broke his 1988 campaign pledge: “read my lips: no new taxes.” Now President Obama is as blatantly poised to disregard his most fundamental campaign promise: “if you make less than $250,000 your taxes will not go up. Not one dime.”
In our new book Catastrophe, we write about the breadth of Obama’s planned tax hikes and the heights to which he will drive taxes. To pay for his health care catastrophe, Obama will likely make all health insurance premiums, paid by employers, taxable to the employees.
So if your income is $50,000 and your employer pays $10,000 in health insurance premiums for you, your taxable income will be $50,000. In effect, this means that most taxpayers will have to pay more than a third of their incomes to the federal government.
And Obama’s “cap and trade” legislation is the exact same as Al Gore’s BTU tax which was the centerpiece of Clinton’s 1993 tax program. Eventually, Clinton replaced it with a flat 5 cent gasoline tax. But the idea of taxing utility bills to drive down electricity use is as old as the Clinton Administration. But Obama can’t call it a tax because that would break his pledge. So he calls it cap and trade instead.
Finally, it is obvious that Obama will be unable to restore financial solvency to Social Security and Medicare without big hikes in the payroll tax, coming in 2011!
It is ultimately these tax increases which will drive Obama’s congressional majority from office in the 2010 elections. His stimulus package, raising the deficit damaged the recovery by raising interest rates. Now he will complete the catastrophe by raising taxes. Together, these tax hikes and interest rate increases will choke off any recovery the business cycle would naturally catalyze.
From now on, its Obama’s recession.
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From
americangrandjury.org/
UPDATES ON TRIP TO WASHINGTON (Monday June 29th):
text via phone from Chalice: posted in central time by my phone.
Carl Swensson and Mack Ellis served the 11-page Presentments to President Barack Obama, at the White House for FRAUD and TREASON.
11:49am Chalice has video. (woooo hoooo documents being accepted)
11:57am Presentments in the hands of Secret Service
12:06pm 2 Secret Service, names John and Jessica, received presentments
They were denied entrance to the Dept of Justice (Eric Holder)
1:06 FBI has been served and they are on the way to District Court
3:05 pm They at US District Court. They were served.
3:29 We served Dept of Justice. They will get back to us. We have a judge who will review it.
3:32 We are on the House serving 4 Congressmen.
5:44pm Presentments delivered to Senate Minority Leader McConnell, TX Senators Hutchinson and Cornyn, Ron Paul, and Michelle Bachmann
They are on way back to hotel and will start again tomorrow. If I hear more details later about today, then I will post them here.
puzo1.blogspot.com/
[…] via OBAMA BREAKS “READ MY LIPS” PROMISE at DickMorris.com. […]
[…] Party like its 1988! That year, George H.W. Bush uttered the now infamous campaign promise: “READ MY LIPS – NO NEW TAXES”. In 1992, H.W. Bush lost to Bill Clinton (and lost a lot of his own votes to then candidate H. Ross Perot) because of that broken promise. Now 21 years later, Obama is as blatantly poised to disregard his most fundamental campaign promise: “if you make less than $250,000 your taxes will not go up. Not one dime.”. Actually, Obama has already broken this promise, with the cigarrette tax, which I venture to say affects mostly people making under $250,000. However, with Crap and Trade, socialized medicine, etc, you ain’t seen nothing yet! Read more at Dick Morris’s blog. tweetmeme_style = ‘compact’; tweetmeme_source = ‘exposeliberals’; No TweetBacks yet. (Be the first to Tweet this post) […]
Federal Officials Receive Citizen Grand Jury Presentments
Obama has been officially indicted!
therightsideoflife.com/?p=6459
Presentments’ against Obama given to White House, FBI
Documents assembled by volunteer “citizen grand jury” members alleging Barack Obama is ineligible to serve as president have been delivered to the White House, the FBI, members of Congress and the court system in Washington, D.C.
Read All AboutIt!
wnd.com/index.php?fa=PAGE.view&pageId=102746
Dick,
I think you need to change the figure in the middle of your article concerning taxable income to $60,000.00(because $50,000.00 income plus $10,000.00 taxable health benefits equals $60,000.00—-I think mistakenly you put $50,000.00 instead of $60,000.00)
[…] Sadly, those who attempted to sound the alarm fell on deaf ears. Even Factcheck.org wrote that anyone who accused Obama of planning to raise taxes on the middle-class was being dishonest. The problem was that Factcheck.org based its claim on what was promised, not what was actually going to happen. As an aside, that begs the questions how an organization like Factcheck.org can assert it is in the business of fact checking when it turns out to be wrong and does not correct its error. The fact is that there was never going to be a tax cut; it was Obama’s “Read My Lips” moment all along. […]
[…] In our new book Catastrophe, we write about the breadth of Obama’s planned tax hikes and the heights to which he will drive taxes. To pay for his health care catastrophe, Obama will likely make all health insurance premiums, paid by employers, taxable to the employees. Read the rest here… […]