Obama In, Taxes Going Up. Hold On Tight.
Written by Tony   
Wednesday, 05 November 2008

Obama's going to take office, so taxes will go up - despite his "95% of all Americans will get a tax break." Just remember that line a year or a year and a half from now.

Why? Let's see:

  • $750 Billion: Bank Bailout
  • $300 Billion: Economic Stimulus II Plan
  • $??? Billion: Increased defense spending (terrorists will test Obama)
  • $??? Billion: All of Obama's new programs

Where do you get that money? From us. Even if the "rich" (people making over $75k per year now is it? NOT $250k) pay for it, then they are the ones that own companies and they pass that on to the consumer instead of easting it. That's how business works. So yeah, we'll all pay.

Start saving now. Jimmy Carter is back in the White House. :-(

-T


Update:

I suspected this would happen:

Market Tumbles on Obama Victory

Business is worried. Watch for food prices to go up more, too. This is just the start of the new era of Socialism in the U.S. and the end of the good old days. We'll tell our grandkids some day how good we once had it. Just watch.

The Conservatives need to rise up these next 4 years and help rebuild the Republican Party since it forgot what Conservatism is (not change Conservative or rebuild it since it stands the test of time - unlike Liberalism which constantly changes).

-T

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Tony Herman

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