The Obama Tax Increase

Let’s talk taxes. Higher taxes that is. They are on the way. The Lame Duck Congress is trying to let the Bush Tax cuts expire on January 1st, 2011. If they do, we need to call this action what it is – the 2011 Obama Tax Increase. Let me repeat that – the 2011 Obama Tax Increase.
With the support of their leader, Mr. Obama, the outgoing Democrats in Congress (you know, the ones that lost their jobs earlier this month) will give all of us hard working tax payers one more shot to our posteriors before they depart Washington in the form of a tax increase.
They are trying to ‘sell’ this to us as a tax cut for the middle class and a tax hike on the rich. There are a couple of problems here. First how to you give a tax cut to someone who was already given that tax cut by President Bush? Obama acts like extending the tax cuts for those of us making less than $250k a year as if he’s doing us some big favor. Second, his effort to only “Tax the Rich” clearly demonstrates either his ignorance of Capitalism or is out right hatred of it. If you raise taxes on those that create the jobs in this country, they do two things, reduce their workforce and/or raise prices of their goods and services. That means fewer of us will have jobs and if we do, we’ll have to pay higher prices for everything.
If Obama has his way, taxes will go up on those with higher incomes, but what Mr. Obama doesn’t understand, is that ALL of us will have to pay those taxes, either directly or indirectly.