Bold Colors Blog

Stickin’ it to the libs, one day at a time

Posts Tagged ‘Tax increase’

Paid for by the people

Posted by Liberty on February 27, 2009

The Obama Revolution

“In the closing weeks of last year’s election campaign, we wrote that Democrats had in mind the most sweeping expansion of government in decades. Liberals clucked, but it turns out even we’ve been outbid. With yesterday’s fiscal 2010 budget proposal, President Obama is attempting not merely to expand the role of the federal government but to put it in such a dominant position that its power can never be rolled back.”

This WSJ editorial shines some much-needed light on Obama’s budget and verifies what anyone with a brain already understands–tax increases are on the way and not just for the mythical wealthy.

“The falling deficit also assumes the largest tax increase in U.S. history, starting in 2011 with the repeal of the Bush tax rates on incomes higher than $200,000 for individuals and $250,000 for couples. The White House says this will yield upwards of $1 trillion, if you choose to believe that tax rates don’t affect taxpayer behavior.

In the real world, two of every three tax filers who fall into this income category are small business owners or investors, who are certainly capable of finding ways to invest that allow them to declare less taxable income. The real impact of this looming tax increase will be to cast further uncertainty over economic decisions and either slow or postpone the recovery. Ditto for the estimated $646 billion from a new cap-and-trade tax, which no one wants to call a tax but would give the political class vast new leverage over the private economy. (See here.)”

And:

“Democrats will want to rush all of this into law this year while Mr. Obama retains his honeymoon aura and they can blame the recession on George W. Bush. But Americans are only beginning to understand the magnitude of Mr. Obama’s ambitions, and how much of their own income will be required to fulfill them. Republicans have an obligation to insist on a long and considerable debate on all of this, lest Americans discover in a year or two that they live in a very different country.”

Posted in Arrogant politicians, Conservatism, Educate yourself, Liberalism, Obama, Socialist economics, Stupid legislation, Taxes | Tagged: , , , , | Leave a Comment »

Obama’s budget plan calls for increased tax enforcement…just not within his own cabinet

Posted by Liberty on February 22, 2009

Obama’s First Budget Seeks To Trim Deficit

So many things to write about within this article but so little patience for all things Obama!  He knows a lot of  people are outraged about the deficit spending stimulus plan.  By unveiling this latest plan to reduce the deficit, he’ll at least fool some of the huddled masses into thinking he’s not a big spender.  Of course, it doesn’t hurt that the useful idiots in the MSM are continuing their laudatory, incurious coverage of Obama.

I especially like how he’s made a couple of financial policy announcements this weekend–when the markets are closed.  Could it be that Obama has realized that the markets don’t seem to have much confidence in his abilities?  How much has the Dow tanked since America’s first true socialist president took office? 

Obama’s budget calls for higher taxes on businesses and the wealthy [a smart recession move, eh?] and spending cuts.  Of course, Obama has not targeted wasteful spending, layers of bureaucracy and redistributive programs–those things will only grow throughout his administration.  Obama’s spending cuts will be from our ongoing military operations in Iraq and Afghanistan.  More for food stamps, more to keep uncreditworthy buyers in homes they can’t afford, more for health care [but only if the government deems it cost-effective] and less for defending America against Islamic terrorism.  The bright side of all of this nonsense is that at least Obama is making it easier for Conservatives to make the distinction between their policies and those of the socialist liberals currently in charge.

The real kicker for me in this article was this quote:

“Obama also proposes “a fairly aggressive effort on tax enforcement” that would target corporate loopholes…”

Now why is it that he cares whether or not corporations pay their fair share of taxes while nominating a bunch of tax cheats for positions in his administration?  Geithner, Daschle, Killefer, Solis…those are just the ones we know about so far.  Hypocrisy, any one?

Posted in Arrogant politicians, Conservatism, Future of the GOP, Innate hypocrisy, Just plain dishonest, Liberalism, Main Stream Media, National Security, Obama, Redistribution of wealth, Slavish media bias, Social engineering, Socialist economics, Stupid legislation, Taxes | Tagged: , , , , , , , , , , , , , , | Leave a Comment »

On transparency and Olympia

Posted by Liberty on February 22, 2009

Stiffing the public on the big budget issues in Olympia

“As a reporter, I always try to imagine what questions my audience might have. In the case of the state budget crisis, the two obvious questions seem to be: what are lawmakers going to cut and what might a tax hike package look like? Good luck getting a straight answer to either question.

Now, I didn’t just fall off the turnip truck. I know that politics dictates that politicians not reveal their strategic plans to the opposition party, voters or, God forbid, reporters. Nonetheless, the state is in a crisis and there’s a big lack of straight-talking going on in Olympia.”

I found this article on Crosscut this morning.  For some reason, it’s a little comforting to know that Conservatives aren’t the only ones feeling stymied by the closed door processes of our state Capitol.

Posted in Arrogant politicians, Conservatism, Just plain dishonest, Liberalism, Redistribution of wealth, Socialist economics, Stupid legislation, Taxes, Washington State | Tagged: , , , , , , | Leave a Comment »