Thus far, in a rapidly deteriorating economy, the American people have not experienced the results. Government has stepped in, with it’s entitlement cushions, to camouflage reality. I have never displaced the GOP from the blame, how might the people have perceived their situation if that two year Bush tax extension had not been put into place? Next week when we dive over the Obama Cliff all of those government goodies disappear and reality sets in for the people.
Socialist France has already take that dive and experienced that reality. NY Post: “Embattled French President Francois Hollande suffered a fresh setback Saturday when France’s highest court threw out a plan to tax the ultrawealthy at a 75 percent rate, saying it was unfair.
In a stinging rebuke to one of Socialist Hollande’s flagship campaign promises, the constitutional council ruled Saturday that the way the highly contentious tax was designed was unconstitutional. It was intended to hit incomes over €1 million ($1.32 million).”
The government sold the program on the premise that it was the answer to France’s budget problems but unemployment continued to increase and Gérard Depardieu uprooted to Belgium. We recently noted Canada’s effort to import our oil workers and engineers.
AMT will be erased. Payroll taxes will increase. We have only seen a small part of the ObamaCare tax increases, the program was designed to employ millions and millions of new government people, public union employees.
The tax increases are not debatable and the spending is mandatory. It’s not until now that the GOP is considering using debt funding to their advantage? Who was helped by those short term no budget agreements?
Who knows what will happen in France but they awoke from the nightmare fast. The Obama Cliff is a nightmare to come, give him the keys to the results and stop protecting him from the consequences.
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Related:
NYP: France’s highest court overturns 75 percent tax on ultrarich
NEW TAX LAWS FOR SUCCESSFUL WHO LEAVE BANKRUPT STATES?
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Posted on December 29, 2012
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