Tag Archives: Destroy the middle class

On the economic impact personally of a second term for Barack Obama

by Jim Campbell Citizen Journalist and Patriot

As the reader listens to Dick Morris below, please don’t be smug or think, well that doesn’t apply to our situation.

Factually it applies to all of us as he indicates toward the end of the video. Do you want to pay capital gains on the sale of your home?  Do you want the cap removed from the money extorted from FICA?

Obama will destroy the middle class inflation will be his helper.

Obama’s goal is clear, though not widely know unless one has studied Karl Marx, there will be no middle class, it’s the “rich” like his buddy Warren Buffet who will make out just fine in Obama’s vision of America.

Please share this link with friends by Email or whatever social networking programs you use.

Obama’s goal has always been singular, the so-called social justice in which those who have lived well, participated in the American Dream, will be systematically stripped of their wealth so that we can taste a little shared misery. 

Under Obamacare, Medicare Double Taxation Begins in 2013

Comment by Jim Campbell, Citizen Journalist and Patriot.

As you see the numbers below, please don’t for a second believe what ever your income this is not targeting your family as well.

Think about it, the more class warfare is played and demonizing those with money, the less money goes into the economy where it can create jobs.

Obama’s goal due to his twisted notion of so-called “Social Justice” is to obliterate the middle class. If the reader doubts that it’s time for some additional reading. Consider picking up any book written by Aaron Klein.

This represents another hidden conduit for the direct transfer of wealth to the federal government.  Didn’t Obama promise his health care denial and rationing plan would be revenue neutral or he wouldn’t sign it? 

That’s my story and I’m sticking to it, I’m J.C. and I approve this message.

By Matt Cover

(CNSNews.com)

A provision of President Obama’s health care law imposes a second Medicare tax on investment income for Americans classified as wealthy, effectively raising taxes on investment income and taxing investors twice.

The provision, a little-known part of ObamaCare, levies a 3.8 percent Medicare tax on investment income for couples making more than $250,000 or individuals making more than $200,000 a year. The tax is scheduled to go into effect on January 1, 2013.

IRS Form 1040

Currently, the government levies a 2.9 percent Medicare payroll tax on all wages, with half (1.45%) paid by the individual and half by the employer.Beginning in 2013, couples making more than $250,000 (or individuals making $200,000) will have to pay an additional 3.8 percent Medicare tax on any investment income (unearned income) they might have.

In other words, beginning in 2013, wealthy Americans who have investment income will be taxed twice to pay for Medicare – once on their regular salary and again on their investment income.

This new Medicare tax will be in addition to the taxes investors already pay on their investment returns – known as capital gains taxes – effectively raising capital gains taxes by 3.8 percent.

The new tax was part of Democrats’ attempt to make Obamacare appear deficit-neutral, and it will add $318 billion to federal coffers between 2013 and 2022, according to a July CBO analysis.

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