18 October 2010

Here Comes that Rainy Day

National Review reports that for FY 2010 the US deficit will be $1.3 trillion.

Federal Spending, excluding FDIC, TARP, and Fannie/Freddie Mac - went up 9% last year over the previous year. Over the last 2 years, the Federal Government spending grew 21.4%

This administration cannot blame anyone but themselves. Obama and the Dummycrats are trying to bankrupt this country. As National Review piece says - we don't have a revenue problem; we have a spending problem.

That is unsustainable.

And remember that effective January 1, 2011 - taxes are coming back like a roaring lion. Government run healthcare will push a spike in premiums, Death Tax will go from zero to 65%, a VAT tax on TOP of the state and local tax, the spending is massive.

And the Democrats don't care - they have ignored the will of the people. They won't acknowledge any limits on their power.

This is just more of what's to come if the Democrats retain their seats after November 2.


Anonymous said...

The end is near. Get ready for the looting and rioting once the public aid checks end. You really got to laugh about all those tough guys with their assault type rifles. Once the ghetto hoards come down their block they'll drop them guns and run.

Anonymous said...

Why not just have a straight 18% income tax across the boards? No deductions, just pay the 18%. This would be fair for everyone.

Rue St. Michel said...

Yes - I agree that the flat tax is the way to go, but Marx started the ball rolling when he wrote (Plank 2),"A heavy progressive or graduated income tax."

Here's the link

The tax tables aren't about fairness, they're all about punishing the rich by taxing them at higher rates, in order to compensate the unproductive losers in this society. They won't install the flat tax because then the Democrats can't afford their precious social entitlement programs, and won't be able to buy the votes of their constituents.

Anonymous said...

Better get ready for the sh*t to hit the fan. Seems most pension funds across the country will be bankrupt in a few years. Yet the public aid program will go on. Funny that those who never worked keep getting $$$$