Your Tax Return Due Date is Approaching – What Has That Socialist Done To Steal Your Money So Far?


President Barack Obama signs the Tax Relief, U...

President Barack Obama signs the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 at the White House. (Photo credit: Wikipedia)

Here is a list of the socialist regime’s actions against the people thus far. I have included a “Socialist-o-meter” rating in parenthesis after each of the bullet points.

The first bill signed by President Obama regarding taxes was the American Recovery and Reinvestment Act which effectively:

  • CUT taxes for 95% of working class families (0/10)
  • Gave 70% of the tax cuts to the middle 60% of American workers (4/10)

Then we saw The Tax Relief, Unemployment Insurance Re-authorization, and Job Creation Act of 2010 which:

  • Extends middle class tax cuts to prevent a typical working family from facing a tax increase of over $2,000 on January 1 (0/10)
  • Provides a 2% payroll tax cut to 159 million workers – providing the typical working family with an additional $1,000 tax cut (0/10)

The most recent action being  Middle Class Tax Relief and Job Creation Act of 2012 which:

  • Extends unemployment insurance so that millions of Americans who are looking for work will still be able to depend on the vital lifeline of unemployment insurance (6/10)
  • Includes important reforms that the President proposed in the American Jobs Act to help discourage businesses from laying off workers and to connect workers with jobs. (4/10)

Its a shame, my calculator added that up to be 14/60 in socialist points. I spend over $100 on the damned thing and it doesn’t even know that Obama is a socialist! Now, I do understand that Obama intends to raise the taxes on the 2% of Americans who make over $250,000 a year. If one wants to call this socialism, he must also call Eisenhower a socialist also.
Let us compare the two presidents’ income tax policies for the wealthy:

Dwight D. Eisenhower (Republican)

  • Marginal Tax Rate on Regular Income over $400,000: 92% – 91%

Barack Hussein Obama (Socialist)

  • Marginal Tax Rate on Regular Income: over $372,950 – over 388,350: 35%

If you feel that any information is inaccurate, feel free to report it. Please prove me wrong, but do not say that I am biased towards Obama without disproving any of the facts I have provided.

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5 Responses to Your Tax Return Due Date is Approaching – What Has That Socialist Done To Steal Your Money So Far?

  1. PalomaGenios says:

    Good data …but a red herring discussion.

    When the economy takes a dump by end of 2012,or 2nd quarter 2013, and the dollar collapses at the end of 2012, because of the massive out of control multimillion dollar debt load, it will not matter if you get 50% in tax rebates…there will be in excess of 30% unemployment almost overnight.

    It is simply not mathematically sustainable to print money in order to pay your own debt.

    Ultimately it is the general economy, it is tied to real products and real services. If a government takes revenues from the public purse and redistributes it across social programs that does not really create anything,….it is just political games.

    Now….where is that real Eisenhower when you need him!

    🙂

  2. willtellsall says:

    I would like to state that Eisenhower inherited his tax rates and they were very standard for the time so I feel the simple comparison to Obama was a misrepresentation. I don’t believe you intended to mislead, rather the information out there is misleading, and the inclusion of Eisenhower tax policy is so much deeper than a percentage. Visit http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=213 for a historical table of top marginal rates.

    Furthermore there has been a lot of noise about the Buffet Rule and the fact Buffet pays less in taxes than his secretary and Buffet thinks that just isn’t right. Obama has his back and repeats this over and over at campaign stops because if one says something enough times it has to be true… Right?

    Here is the truth of the matter. A majority of this “income” Buffet [and Obama] is talking about comes from investments which are subject to capital gains and taxed at 15% after the investment is seasoned for 12 months. There is a great article expanding on this and many other myths of the current administration at http://www.nationalreview.com/campaign-spot/295642/obamas-tax-policy-inspired-one-anecdote.

    Lastly, I love a recurrent theme in Obama tax policy speeches, “They give tax breaks to guys like me who don’t need them…” BUT Obama doesn’t mention the deductions are voluntary and every year he DECIDES to take them. As a matter of fact he probably pays tax lawyers to maximize his deductions and savings.

    I apologize I cant take the time to argue point by point and cite proof of each but it is very late. Thanks for the article!!!

    -Will Tell
    willtellsall.blogspot.com
    follow on Twitter: Will_Tell_2012

  3. Mike@UsneakydevilU says:

    Let me say this up front, I believe the US Marginal Tax Rate on Regular Income can afford to be 42% for income over $285,000 – over $350,000: 43%. That’s a bit higher than the 39.6% tax rate during Bill Clinton’s presidency, where we saw some good growth. This is a Socialist-Republic in which we live. As long as people are taxed and their money goes to other people, we will always sprinkle a little socialism over our cake.
    So yes, Obama by the nature of this system we have is mixed with a bit of socialist just like every president from FDR and into the foreseeable future.
    But still we must put the 92% tax rate during Ike’s presidency and the high tax rates that followed his presidency into proper perspective. I believe a Great Depression, high immigration, FDRs New Deal (Welfare, SS, etc), WWII, Korean War, Vietnam War did a number on the US economy for years! This brewed the perfect storm and 92% tax rates were easy to push forward. Today, 42% will do.

  4. LifeWithChad says:

    i feel stupid after reading that

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