America gets smaller

January 2, 2013 @ 5 Comments

Word has it that during the final days of the “fiscal cliff” fiasco, Republican House Speaker John Boehner bumped into Democrat Senate Majority Leader Harry Reid in the White House lobby, and told Reid to “go f**k yourself.”  But why would Reid do such a thing, Mr. Speaker?  There are plenty of Americans for him to screw instead.  The New Years’ Day fiscal cliff deal is all about some people screwing other people, while the problem they ostensibly set out to “solve” just gets worse.

There isn’t much “deficit reduction” in the fiscal cliff deal.  The only thing that got substantially reduced is the size of the American private sector.  President Obama immediately began calling for even higher taxes and more spending.  America is not yet small enough for his tastes.

The Wall Street Journal published a chart of the taxes that are going up:

 

 

Note the hefty increase to capital gains and dividends, plus the increased estate tax.  That all combines into a whopping incentive not to accumulate savings or make investments, especially for the substantial group of investors who would also run afoul of the higher personal income tax bracket.  Instead of simplifying taxes, Congress and the President just made them more complicated, introducing yet another step to the progressive tax ladder… which accountants will now scramble to keep their half-millionaire clients from taking.

Read more at Human Events. By John Hayward.



5 Comments → “America gets smaller”


  1. Don

    1 year ago

    The American people wanted this. So, all of you idiots who thought that you would get a different outcome by voting for Obama and the Democrats again, DON’T COMPLAIN! You wanted this to happen!


  2. Donald Merriam

    1 year ago

    You haven’t figured it out yet, Don. Only a few Obama supporters will be hit. There’s nothing in Obama’s plan to cut welfare spending or tax welfare recipients. His “Tax the rich!” program doesn’t apply to Hollywood either. They got an extension on deductions. This mess was designed to hurt the producers on all levels, not the moochers. What it really amounts to is an increased tax on registered Republicans.


  3. USMC DAV

    1 year ago

    Yes, the dums get dumber and dumbeer as time goes by.hat’s really bad is the media propaganda clowns that arein obama’s pocket. Especially msnbc and their paid idiots like scultze, ed, and madcow, who are all still going after the conservatives even though their phony election went through and the Kenyan was re-installed. Makes me sick to my stomach to see this kid in a candy store whose mentor was saul alynsky,still being able o brainwash these dummies into thinking he’s AMERICAN AS APPLE PIE.I sure as hell did not join the Marine Corps at 17 years old to defend this phony cic. AND NOW AM A PERMANENT DAV.


  4. Frank Weber

    1 year ago

    The fate of this country is in the hands of career politicians who long ago lost sight of the future and direction the founding fathers envisioned. For those that have not, take the time to read: Empire of Illusion and Days of Destruction, Days of Revolt by Chris Hedges, Preparing for the 21st Century by Paul Kennedy and any of James Howard Kunstler’s four nonfiction books, especially The Long Emergency.
    We are destroying our way of life and our world to enrich a very small percentage (the elite) that think they will be above and not subjected to the collapse. Our race to the bottom is going to be a very painful ugly transition. I can only hope that those who worked the hardest to make it happen suffer the most watching what the future does to their families in the chaos.


  5. jetrayk

    1 year ago

    This recalls the stories of German generals who understood Hitler would destroy their country, including one, who specifically carried a pistol for the purpose of shooting the lunatic, but could never pull the trigger. Not an easy decision make,is it? I can only hope.


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