Actually I’m being kind when I use the word DISTORTIONS because the truth is they are either outright lies that he knowingly tells or he is so out of touch with reality that he doesn’t know what the real tax rates are, were, or will be. Either way it is not a pretty picture of what we will get under a Second Term of Obamanation which will be an Abomination for America and Americans.
Some time back Mr. Obama, at a fund-raiser, where he has spent most of his time during the first term in office in California put some Mega Distortions out there and his gullible followers including the media just swallowed it, didn’t question it, and reported it as truth and gospel. There were two in particular, one concerning his own plan and the other concerning Mr. Romney’s plan and neither were factual, but haven’t we come to expect that from this administration? I have!
Mr. Obama repeated his oft stated claim, “I’m also going to ask anybody making over $250,000.00 a year to go back to the tax rates they were paying under Bill Clinton.” Hold your horses Mr. President and let’s look at the plan’s reality. The top marginal rate today is 35% and Mr. Obama wants to go back to 39.6% plus the 3.8% Medicare Insurance tax included in Obamacare that he fails to mention. That would make the marginal tax rate 43.4% for “ordinary income.” Under Bush, the current tax rate for dividends is 15% (because the money used to earn them has already been taxed) but under Mr. Obama’s plan they would also go up to 43.4%. Any idea what that would do to investments in this country? I can tell you, it would further cripple the economy but I really don’t think that Mr. Obama cares about that he is more interested in creating a class envy and warfare that will garner him votes and nothing more.
Tax planners and CPA’s virtually everywhere are advising their clients to “Plan for the new 2013 Medicare taxes on e-level earned and investment income.” They are preparing their clients, the investors and job creators to prepare for the massive hit they are going to take if Obama wins reelection and his policies not repealed. That will mean a further decline in the market, the economy, the unemployment rate, and the cost of virtually everything especially fuel, food, and electricity. Of course healthcare will escalate too but who wants to talk about that trivial thing in the media or Obama administration?
The real truth is that the actual top marginal rate under Mr. Obama (the self-proclaimed champion of the middle-class) is 9.6% higher than it was under Bill Clinton and a 24% increase from what people are paying now. Doesn’t that sound just delicious? But let’s go back a couple of years and Mr. Obama in 2010 acknowledged that allowing the current tax rates to expire would have a devastating effect on the economy. In the fourth quarter of 2010 the gross domestic product growth was at 3.2% and by the summer of 2012 it was under 2% as people prepare for his tax increases.
But have no fear Alice, these tax hikes are all about “fairness” whatever that means. It is most assuredly not going back to the Clinton tax rates or stimulating the economy. However, Mr. Obama claiming to want “fairness” and to return to the Clinton tax rates he is not willing to go back to the spending levels of 2007. Oh no, he wants to continue with the Trillion dollar plus deficits each year and increase the tax rates too! He wants to have his cake and eat it too and it doesn’t matter what it does to you and I.
Mr. Obama continues to claim that Mitt Romney’s tax plan is nothing more than a tax break for the wealthy but that is an outright fabrication too! Under the Romney plan there would be tax cuts for ALL AMERICANS and would phase out some of the deductions now enjoyed by the upper-class. It is, in fact, revenue neutral. It WILL NOT decrease the amount of taxes paid by the rich. Obama keeps asking how he is going to pay for this tax cut. Truthfully, it is not a tax cut and you don’t pay for something that you don’t buy. History indicates that if that plan goes into effect as it has under previous administrations there will ultimately be more money in the Federal Government’s coffers and if there is spending cuts to go along with it we will see a reduction in the deficit, debt, and an economy that will begin to rapidly rebound. Quite the contrast to Obama’s plan!
I found it fascinating that the Obama camp immediately began to attack Romney for taking Obama’s statements “out of context” while the RNC put out an ad with the “FULL CONTEXT” of Obama’s remarks so that there would be no misunderstanding what he said. Of course, they still deny, deny, deny – distort, distort, and distort. It is about getting reelected not telling the truth, helping the American people, the economy, or doing anything positive for this nation.
You can remain blind willingly or you can investigate and find that Mr. Obama and his camp have presented so many distortions and fabrications during the past four years plus the two years prior to being elected that Pinocchio would be embarrassed. Yet, few are calling his hand on it. Mr. Romney PLEASE do not let him get away with one fabrication or distortion. Stay on point, don’t get distracted or go on the defense it won’t work. You have to stay aggressive and stay on the offense if you want to give this country an alternative to Barack Obama and a chance to recover!
All I ask is that you pray for this nation, its leaders, study, investigate, pay attention, tell others what you know, and VOTE on Election Day! America is depending on you! It truly is your call! May God bless America and may God bless you!