Washington Post – “Obama’s Worst Income Tax Ever”

In case you haven’t been able to follow all of the lead stories, her’s one from the Washington Post you will really like:

“President Obama’s 11th-hour decision to apply the 2.9% Medicare payroll tax to “unearned income.”

What does that mean to us? 

“For the first time, the combined employer-worker 2.9% Medicare rate would be extended beyond wages, to interest, dividends, capital gains, annuities, royalties and rents…”

 Well, if you’re one of those who is actually able to live within your budget, and maybe have something left over to set aside, that’s open for grabs.  If you’re one of the wise who chooses to take advantage of 401k plans… guess what… you’ll be hit with this too.

Folks, can it be any more clear – Washington thinks every dollar you have is fair game.  If they can think of a way of claiming it, it belongs to them by right of creative taxation.

And we haven’t even passed Health Care yet – this is just the start.  Wait until it actually gets started and DC figures out they have grossly underestimated the actual cost – and need to find MORE MONEY.

Keep rolling over America… since the thinking is we should be happy to pay for the privilage of being an American, why not keep taking more from us.

Anyone for taking a wage on how long it is before we finally reach a point of 50-50 joint custody with the government for every dollar which comes our way?

Old-Man-Tex

Advertisements

3 Responses

  1. Hi, don’t mean to be nit-picky, but your link to Washington Post goes to Wall Street Journal with the correct story.
    Nika

    • Sorry about that – thanks for catching it. I deem that it never happened, and furthermore… let me be clear – that was my predesessor’s mistake.

      Old-Man-Tex

  2. Meant to add, this is a good story and needs to get out.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: