First Wave:

Expiration of 2001 and 2003 Tax Relief

In 2001 and 2003, the GOP Congress enacted several tax cuts for
investors, small business owners, and families. These will all expire on January 1, 2011:

Personal income tax rates will rise.  The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed).

The lowest rate will rise from 10 to 15 percent.  All the rates in between will also rise.  Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates.  The full list of marginal rate hikes is below:

- The 10% bracket rises to an expanded 15%

- The 25% bracket rises to 28%

- The 28% bracket rises to 31%

- The 33% bracket rises to 36%

- The 35% bracket rises to 39.6%

If That is not enough, below is the work of Art Laffer called the Laffer Curve

Tax Revenue and The Laffer Curve

Marxist Social Engineering Continues to Penalize the Traditional Family

Higher taxes on marriage and family.  The “marriage penalty” (narrower tax brackets for marriedcouples) will return from the first dollar of income. Social Engineering and the Marxist 10 Plancks require that the “Ruling Class” so overburden the citizens that a sure victory of the failure of Capitalism can seemingly be argued as truth.

“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”

Goebbels

“German Nazi Party member Joseph Goebbels became Adolf Hitler’s propaganda minister in 1933, which gave him power over all German radio, press, cinema, and theater.”

The Child Tax

Child Tax credit will be cut in half from $1000 to $500 per child.  The standard deduction will no longer be doubled for married couples relative to the single level.  The dependent care and adoption tax credits
will be cut.

Growing the Economy means to increase the amount of disposable income people have, reduce disposable income and the economy shrinks,

The return of the Death Tax.

This year, there is no death tax.  For those dying on or after January 1 2011, there is a 55 percent
top death tax rate on estates over $1 million.  A person leaving behind two homes and a retirement
account could easily pass along a death tax bill to their loved ones.

Higher tax rates on savers and investors.

The capital gains tax will rise from 15 percent this year to 20 percent in 2011.  The dividends tax will rise from 15 percent this year to 39.6 percent in 2011.  These rates will rise another 3.8 percent in 2013.

Of course, this is far from the truth. No government in history has ever spent a country into prosperity. On the contrary, government “stimulus” programs have made the economy worse by preventing the growth of the productive private sector. Due to the unpopularity of the “stimulus”, Obama’s economic advisers have purposely removed the word stimulus from their vocabulary. The “stimulus” has been such a disappointment that Obama’s economic advisers now refer to it as the “recovery act.” Whether it’s called the “stimulus” or the “recovery act”, the plan has still likely prevented the creation of 10 million jobs in the private sector.

Obama Fire All Economic Advisors

Second Wave:

The Obamacare Lies The End Justifys The Means

There are over twenty new or higher taxes in Obamacare.  Several will first go into effect on
January 1, 2011.  They include:

The “Medicine Cabinet Tax”

Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).

The “Special Needs Kids Tax”

This provision of Obamacare imposes a cap on flexible spending accounts (FSAs)
of $2500 (Currently, there is no federal government limit).  There
is one group of FSA owners for whom this new cap will be particularly
cruel and onerous: parents of special needs children.  There are
thousands of families with special needs children in the United States
, and many of them use FSAs to pay for special needs education.

Tuition rates at one leading school that teaches special needs children
in Washington , D.C. (National Child Research Center) can easily
exceed $14,000 per year. Under tax rules, FSA dollars can not be used to pay for this
type of special needs education.

The HSA Withdrawal Tax Hike.

This provision of Obamacare increases the additional tax on
non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.

The Nature Of Legal Plunder

Listen to Bastiat’s explanation of this “legal plunder.” “When a portion of wealth is tranferred from the person who owns it – without his consent and without compensation, and whether by force or by fraud – to anyone who does not own it, then I say that property is violated; that an act of plunder is committed!

“How is the legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime…” (THE LAW, p. 21, 26; P.P.N.S., p. 377)

The Proper Role of Government

Democrats in Control of Spending Since 2007 Not Bush

Third Wave:

The Alternative Minimum Tax and Employer Tax Hikes

When Americans prepare to file their tax returns in January of 2011,
they’ll be in for a nasty surprise—the AMT won’t be held harmless, and many tax relief provisions will have expired.
The major items include:

The AMT  will ensnare over 28 million families, up from 4 million last year.
According to the left-leaning Tax Policy Center, Congress’ failure to index the AMT will lead to
an explosion of AMT taxpaying families—rising from 4 million last year to 28.5 million.  These families will have to calculate their
tax burdens twice, and pay taxes at the higher level.  The AMT was created in 1969 to ensnare a handful of taxpayers.

Small Business Expenses Will be Slashed and 50% Expenses Will Disappear.

Small businesses can normally expense (rather than slowly-deduct, or
“depreciate”) equipment purchases up to $250,000.  This will be cut all the way down to $25,000.  Larger businesses can
expense half of their purchases of equipment.  In January of 2011, all of it will have to be “depreciated.”

Taxes Will be Raised on All Types of Businesses.

There are literally scores of tax hikes on business that will take
place.  The biggest is the loss of the “research and experimentation tax credit,” but there
are many, many others.  Combining high marginal tax rates with the loss of this tax relief will cost jobs.

Tax Benefits for Education and Teaching Reduced.

The deduction for tuition and fees will not be available.  Tax credits
for education will be limited.  Teachers will no longer be able to deduct classroom expenses.  Coverdell Education Savings Accounts
will be cut.  Employer-provided educational assistance is curtailed.  The student loan interest deduction will be disallowed
for hundreds of thousands of families.

Charitable Contributions From IRAs no Longer Allowed.

Under current law, a retired person with an IRA can contribute up to
$100,000 per year directly to a charity from their IRA.  This
contribution also counts toward an annual “required minimum
distribution.”  This ability will no longer be there.

PDF  Version  Read more:
http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171##ixzz0sY8waPq1

Now Your Insurance is INCOME on Your W2′s……

One of the surprises
we’ll find come next year, is what follows – - a little “surprise” that 99% of us had no idea was included in the
“new and improved” healthcare legislation . . .

Starting in 2011, (next year folks), your W-2 tax form sent by your employer will be increased to show the value of whatever
health insurance you are given by the company. It does not matter if that’s a private concern or governmental body of
some sort.  If you’re retired?  So what; your gross will go up by the amount of insurance you get.

You will be required to pay taxes on a large sum of money that you have never seen.  Take your tax form you just finished
and see what $15,000 or $20,000 additional gross does to your tax debt.  That’s what you’ll pay next year.  For
many, it also puts you into a new higher bracket so it’s even worse.

This is how the government is going to buy insurance for

the15% that don’t have insurance and it’s only part of the tax increases. Not believing this???  Here is a research of the
summaries…..

On page 25 of 29:

TITLE IX REVENUE PROVISIONS- SUBTITLE A: REVENUE OFFSET PROVISIONS-(sec. 9001,
as modified by sec. 10901) Sec.9002  ”requires employers
to include in the W-2 form of each employee the aggregate cost of applicable employer sponsored group health coverage that is excludable from the employees gross income.”

Health Care Reform: 13 Tax Changes on the Way

A requirement that businesses include the value of the health care benefits they provide to employees on W-2s, beginning with W-2s for 2011. The amount reported is not considered taxable income.

Thanks to Joan Pryde is the senior tax editor for the Kiplinger letters.

Although this interpretation is reputed at “Factcheck.org ” the concern is the need to report and the fact that Fact is a radical extremely well funded group that ,

Barack Obama started serving as chairman of the Chicago Annenberg Challenge, an education grant program, in 1995, the same year he was elected to the Illinois state Senate. As chairman, Obama oversaw the disbursement of $49.2 million in Annenberg grants, most of which went to non-profit groups with the stated intent of improving Chicago’s public schools.

Since the start of his political career, Obama has received a total of $331,528 in campaign contributions from people who served as staff and board members of non-profit groups that received grants from the Chicago Annenberg Challenge (CAC).

People have the right to know the truth because an election is coming in November.

Slavery is Slavery Economic, tax burden, it is still slavery

For more on this issue

Ron Paul: Income Tax = Involuntary Servitude

“The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence. If ‘Thou shalt not covet’ and ‘Thou shalt not steal’ were not commandments of Heaven, they must be made inviolable precepts in every society before it can be civilized or made free.”

~ John Adams