Voices Empower

Two Different Pinocchio Politicians – Obama and Harry Reid

By Donna Garner 


Yesterday President Obama got a round of laughter for his campaign’s clever stand-up comedy line in which he labeled Mitt Romney’s tax plan as “Romney Hood” because it supposedly takes from the middle class and gives to the rich.

What Obama should have said is that it is his ObamaCare that will impose a 10-year tax increase of $502 billion on the American people, much of which will fall on the middle class.

What Obama should also have said if he were honest, which he is not, is that it is he who is mounting the largest tax increase in the history of our country; and his tax increase will hurt everyone by allowing the Bush tax cuts to die as of Jan.1, 2013.

The average taxpayer will see his 2013 taxes increase from $2,000 to $4,000. (Please see the individual examples posted further on down the page taken from Henry W. Burke’s report.)     “The ObamaCare Taxes” – by Henry W. Burke

Not only is Obama’s tax plan a disaster for everyone including the middle class, but it will also hurt the job creators who create jobs for the rest of us! How stupid is that at a time when our employment rate is now 8.3% which makes 42 straight months in which the rate has exceeded 8% — almost the entire time that Obama has been President. The underemployment figure is even more alarming — 16.6%.

Obama is rightly called the “Food Stamp President” because under his administration, food stamp spending has more than doubled with 1 in 5 residents now on food stamps. This serves to increase the national debtfor everyone.

The last two years of Bush’s Presidency, the Congress was controlled by the Democrats. When Pres. Bush left office, he left behind a deficit of $700 Billion. (The federal deficit is how much more our country spends than it takes in through income. The national debt is all the deficits put together over a number of years.)

When Pres. Bush left office, the national debt was $10.6 trillion built up over many years; but in only 42 months, Obama has increased the national debt to almost $16 trillion.

In spite of Obama’s catchy “Romney Hood” performance yesterday, how should we hard-working Americans feel about having our taxes raised starting on Jan. 1, 2013?

1.  Example #1 — Family (AGI = $70,662)

Roberto and Juanita have an Adjusted Gross Income (AGI) of  $70,662.  Their taxes will go up  $4,138  next year due to Taxmageddon.  After 2013, they will see a somewhat higher level of taxation (higher than the $4,138 tax hike for 2013).

2.  Example #2 — Baby Boomer (AGI = $95,099)

Charles and Janet have an Adjusted Gross Income of $95,099.  Due to the Taxmageddon, their taxes in 2013 will be  $4,223  higher than in 2012.  Each year after 2013, they will pay at least $4,200 more in taxes than they will pay in 2012.  The later years will be higher than 2013 as Obamacare taxes are fully implemented.  Of course, their tax bill will depend on their income in future years.

3.  Example #3 — Low-Income Worker (AGI = $24,757)

Frank has an Adjusted Gross Income of  $24,757.  He does not consider himself a “low-income worker.”  He works hard and earns a steady living but he is on a tight budget.  He cannot afford a tax increase of any kind.  Unfortunately, Frank will have to pay an additional  $1,207  in taxes next year because Congress did not address the Taxmageddon nightmare.  He will have to pay at least $1,200 each year thereafter to the IRS.

4.  Example #4 — Millenial (AGI = $23,917)

Teasha has an Adjusted Gross Income of  $23,917.  She has just started her career and is glad she was able to find a job.  (Many of her friends have not been as fortunate and are living with their parents.)  Teasha is also on a tight budget and wants to know what impact Taxmageddon will have on her.  She will face a tax hike in 2013 of   $1,099.  She must pay similar tax amounts in subsequent years.

5.  Example #5 — Retiree (AGI = $42,553)

Su Lin and Jun have an Adjusted Gross Income of  $42,553.  They are retired and live on a fixed income (mostly from Social Security and their retirement account).  Because their income is fixed, it increases only slightly with cost-of-living adjustments.  For their situation, they will see an increase of  $857  in their 2013 tax bill.  They will pay about $860 more in subsequent years than they pay in 2012.

6.  Example #6 — General Case

If you cannot find your situation in the above examples, you can approximate the result by multiplying your AGI by about 6.0 %.  Of course, the tax rates vary with income levels and other parameters.  For example, there is a $110,000 limit on Social Security taxes.



Harry Reid – Caricature (Photo credit: DonkeyHotey)

8.7.12 – Sen. Harry Reid, the leader of the U. S. Senate, has accused Mitt Romney of not paying federal income taxes for ten years. What did theWashington Post (hardly a “conservative” news source) say today in their Fact Checker?

Four Pinocchios for Harry Reid’s claim about Mitt Romney’s Taxes…tax experts say his claim is highly improbable. Reid also has made no effort to explain why his unnamed source would be credible. So, in the absence of more information, it appears he has no basis to make his incendiary claim. Moreover, Reid holds a position of great authority in the U.S. Congress.  He should hold himself to a high standard of accuracy when making claims about political opponents. (Four Pinocchios by the Washington Post means significant factual errors and/or obvious contradictions.)

Having taught school for 33+ years, I do know a liar when I see one; and it is thoroughly disgusting to me that the two leaders of our country, Obama and Sen. Reid, have proved themselves to be inveterate liars!


For more details, please read Henry W. Burke’s full reports:

7.16.12 – “Taxmageddon: Tax Tsunami Could Hit January 1, 2013” by Henry W. Burke

7.6.12 – “The ObamaCare Taxes” – by Henry W. Burke

Knowledge is Power and together we can make the difference!!  


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