You got those tax hikes, now what?

Democrats got their massive tax hikes, and are indiscriminately cutting rather than carving with the sequestration they wanted. Creating new job losses so they can blame Republicans (ran out of the Bush excuses after 4.5 years) No reduction in the deficit, however.

The problem is Medicare, Medicaid and Social Security. And no one has a solution; putting younger workers on a self-directed plan while raising the retirement age will be stomped to death by Democrats (not because it is bad, but because it will work), and Republicans will scream at reduction in benefits for current recipients.  No one said Republicans were conservative about spending on themselves.

A summary of expectations for the next four years

This summary is from Rachel, at Thoughts of a Conservative Mom, and the revelations about Petraeus and the election cover up and the bombing of Israel hadn’t even made the head lines yet (November 7).

A flood of regulations that Obama kept on hold and the media hid until after the election will start going into effect, strangling struggling businesses.

Taxmageddon – a record $494 billion tax hike – will go into effect on January 1st, 2013, plunging us into even deeper recession.

The Left will start going after the internet, citizen journalism, social media and talk radio – any competition to the Left-wing propagandist media.

Obama and the Democrat-controlled senate will begin ceding our national sovereignty to the United Nations, one treaty at a time. Parental rights, gun rights, and internet freedom are especially under threat.

Obamacare will go into full effect, bankrupting private providers and putting America on the road to single-payer, as was intended.

Planned Parenthood will expand on the taxpayer dime, preparing to perform thousands of abortions via socialized medicine.

A direct assault on religious liberty as Obama’s HHS forces religious business owners to pay for abortions, and tries to force the Catholic church – the largest competitor to the Welfare State – out of the health care industry and other charities altogether.

With the Republicans still controlling congress, Obama will simply go around them and rule by executive diktat. Republicans will have to grow the spine needed to hold him in check.

With Democrats still in control of the senate, no budgets will be passed. All of Obama’s judges and appointments will be confirmed. And if they aren’t, he’ll go ahead and appoint them anyway.

Obama will likely appoint at least two more activist judges to lifetime appointments in the Supreme Court. The senate will confirm them.

Obama will continue to block drilling and natural gas development, driving up gas prices and making us dangerously dependent on the volatile Middle East while he dumps billions more into “green” energy subsidies.

Obama’s EPA will destroy the coal industry, causing electricity rates to skyrocket, as he imposes thousands more “green” regulations on what’s left of our manufacturing and other industries.

Illegal aliens will be granted amnesty, voting rights and welfare benefits.

Our border will remain unprotected as drug cartels and terrorists invade with impunity.

Obama will continue to funnel money to the Muslim Brotherhood and weapons to terrorists.

Israel will be forced to attack Iran to prevent it from going nuclear. Obama will not support them. The Muslim world will not be afraid of action from the United States, and will feel free to join forces to destroy Israel.

Christian persecution across the globe will intensify, as the Obama administration looks the other way.

Obama’s spending spree will continue, likely bringing our national debt to a suicidal $22 Trillion before 2016.

More people will be forced into dependency on food stamps and other government programs as the Cloward-Piven strategy accelerates.

The Fed will continue to print more money out of thin air, creating hyperinflation.

We will continue on the road towards Greece. We must be prepared to feed and defend our loved ones, and care for the needy if and when the welfare state collapses.

How to lose the race

If you're competing in a horse race, and one of the horses has a better record, better sire and dam, better trainer, and is stronger, it's only fair to the other horses and owners to put him in hobbles to run the race. If Obama owns the track.

Tax Hike Prevention Act of 2010, S. 3773

Don't let Pelosi, Reid and Obama kill more jobs with a tax hike.

S. 3773 prevents nearly $4 trillion in tax hikes over the next decade. Specifically, it would:

•Keep income tax rates right where they are. That means that the lowest rate would remain at 10 percent, rather than rising to 15 percent. It also means that the top rate (at which a majority of small business profits pay tax) would stay at 35 percent, rather than rising to 39.6 percent

•Keep the capital gains and dividends tax rate at 15 percent. Under the Pelosi-Obama-Reid (POR) tax hike, the capital gains tax rate is set to rise to 20 percent in 2011. The dividends top rate is set to rise to an astounding 39.6 percent in 2011

•Keep the death tax from rising to a 55 percent top rate with a small $1 million exemption. Instead, the death tax would be 35 percent with a generous $5 million exemption to protect most small businesses and family farms

•Prevent tax hikes on families, including a return of the marriage penalty and cutting the child tax credit in half

•Index the alternative minimum tax (AMT) to inflation. Under S. 3773, the number of AMT taxpayers should remain constant, rather than the sharp rise in AMT families that the Pelosi-Obama-Reid (POR) tax hike would result in.

S. 3773, the “Tax Hike Prevention Act of 2010” is a common-sense bill. It simply keeps in place the tax structure America has lived under for the past decade. It avoids a huge tax hike in the midst of a weak economy that will kill jobs. It’s supported by the American people, and should be voted on by the Senate before the election.

Text mostly from Americans for Tax Reform

Six Months to Go Until The Largest Tax Hikes in History

Here's some good news for Obama supporters and the main stream media. The biggest tax hike in our history is just down the pike. Despite all those promises, despite all that transparency and all the hopey changy swoons. Yes, it's change all right. More statism, more government control, more freedoms lost. You didn't really believe he could get the money for redistribution of wealth just from the wealthy, did you? For starters. . . the Bush tax cuts are going to expire. After that, there will be the Obamacare new taxes--20 or so. Then the AMT, new taxes on employers, and changes in charitable deductions. Oh, you Democrats must just be popping your buttons, you're so proud of your guy. And your fall back will always be, "It's all Bush's fault."

"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%"

But read more here: Six Months to Go Until The Largest Tax Hikes in History

HT Murray for the link