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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (21466)	4/7/2010 10:24:53 PM
From: SliderOnTheBlack	6 Recommendations Respond to of 50040

re: VAT Tax... A VAT tax or a national sales tax, higher income taxes, carbon taxes, higher capital gains taxes, new excise and sin taxes... and higher property and income taxes from the state and local levels, all seem inevitable. For over a year I've been posting these comments from the CBO, and pounding the table on how high taxes are going to go over the coming decade. The bankers looted the U.S. Treasury, and Congress looted the lockbox for Social Security and Medicare, and now America is being IMF'd and put on a "SAP" (structural adjustment program) as our income, savings, and wealth is about to be confiscated, and our remaining natural resources and public services rationed to us. Former U.S. Comptroller General David Walker said: "Government must choose between defaulting on social security and medicare, or maintaining current defense, homeland security, and education spending." Anyone notice any cuts to defense, or homeland security spending? What you are about to read, is literally the epitaph for America's middle class... --------------------------------------------------------------- --------------------------------------------------------------- According to the CBO: heritage.org Tax rates would need to be raised by "substantial" amounts to finance projected spending. Specifically, "the tax rate for the lowest bracket would have to be increased from 10 percent to 25 percent; the tax rate on incomes in the current 25 percent bracket would have to be increased to 63 percent; and the tax rate of the highest bracket would have to be raised from 35 percent to 88 percent. The top corporate income tax rate would also increase from 35 percent to 88 percent."[4] "Such tax rates would significantly reduce economic activity and would create serious problems with tax avoidance and tax evasion. Revenues would probably fall significantly short of the amount needed to finance the growth of spending; therefore, tax rates at such levels would probably not be economically feasible."[5] The CBO just spelled out the "End Game" in plain english there folks. We will need a doubling to tripling in Federal Income Tax rates to a 63% rate for the middle class, an 88% top rate, along with a corporate tax rate of 88%. The CBO goes on to say - that these rates would collapse the economy and would not be economically feasible. In plain english, the CBO just said: There's no way out. TILT! Game Over. The World Bank/IMF knows it. The G-20 knows it. China and Russia know it. And the bankster-gangsters know it. That's why they're looting the system as fast as they can, rapidly building a police state, and now turning the war on terror, into a war of terror. And directing it towards the US citizenry they know are going to revolt, and rise up when the final day of reckoning arrives. And arrive it will. --------------------------------------------------------------- --------------------------------------------------------------- Get used to this word: "Confiscatory" Because over the coming years it's often going to precede the word "taxes." There is also going to be one helluva lot of school teachers, white collar government workers, union members, and liberal intelligentsia who are going to lose their jobs, their pensions, and their gold-plated health care coverage... and who are going to rue the day they became history's latest group of "useful idiots" by buying into the socialist, utopian illusion of a "senior lecturer" from the University of Chicago, who specialized in teaching Saul Alinsky's "Rules for Radicals," instead of the U.S. Constitution. The bad news? We've added another $12-24 trillion dollars of debt (depending on whose numbers you use), since those CBO numbers came out. The good news? Rope is still cheap, trees still plentiful, and our memories long. SOTB