Obama Budget Taxes Middle Class Hard

In an effort to regain some of the class-warfare (anti-wealth) momentum employed in his Presidential campaign, the Obama administration proposed publicly to increase taxes on those earning $250,000 or more a year, to offset the $1 trillion deficit and fund the Obama Care behemoth.

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While these "high-earner" taxes would generate less than 1% of the country's unprecedented debt, Obama stands to gain billions through backdoor tax increases that raise rates by at least 3% on those who earn over$33,750, pushing most Middle Class earners into a higher tax bracket.

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Rather than overtly adding new taxes, the Obama administration is playing a game of semantics,proposed to either let tax breaks expire or eliminate tax benefits, thereby generating billions of dollars in tax revenue from the very people who can least afford the increase.

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While Obama's proposal effectively increases taxes on an estimated 25 million people, the biggest burden is carried by working class families who will see an additional 5% increase in capital gains taxes, lose some property tax deductions, and lose college tuition and educational expenses deductions.
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Those hardest hit however are Middle class individuals and families who had previously received some relief from the Alternative Minimum Tax. Failure to adjust the exemptions and for rates of inflation effectively terminate deductions for medical expenses, state and local tax itemization, net operating losses, investment expenses, and mortgage interest on home equity debt.

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The self employed and those who incur costs related to employment also lose the ability to gain relief through itemization, as both accelerated depreciation and supplies and tool tax credits are scraped.
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Under Obama's budget proposal, the unemployed would find themselves both without a job and liable for taxes on the first $2,400 in unemployment benefits.

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The writing is on the wall for working/middle class families. Obama seeks a border free America, where we are liable for the medical, educational, and welfare expenses of potentially millions MORE illegals. He wishes to saddle us with a health care bill that will bankrupt the already fragile economies of many states and criminalize employers and employees alike who cant afford the increased heath care costs.

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How many families will be forced into bankruptcy or foreclosure thanks to these "back-door" tax increases? How many working class families will be unable to send their children to college?
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Obama is creating a socialized America, not through revolution, but through relegation. States unable to pay their mandated bills will fall under the control of the federal government.

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Employers unable to pay the increased health care costs will be compelled to relegate control to the federal government. Banks, mortgage companies, energy supplies, ranchers, farmers, manufacturers, and medical providers are all being forced to accept government takeovers or draconian mandates designed to usurp control.

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Now the Middle Class is compelled to dig deeper into already thread bare pockets or fall to the growing ranks of welfare recipients who make-up Obama's socialist Army by proxy.