by Jack Lee
Is 2013 going to be your lucky number? The president has decided to make 13 [his] lucky number, first by fundamentally changing the way things work in the greatest nation on earth. That’s his plan and he’s done well so far. But, in the process of changing America, he’s also done especially well for himself. For example, those several hundred million spent on vacations, the 325 rounds of golf, the $400k a year salary and a few hundred grand for walking around money. Those are all good numbers for him.
President Obama’s estimated net worth in 2011 was a staggering $11.8 million and I say staggering because it’s almost all from new money. Considering he’s only been president for four years, just wait till he’s been in there a few more years. But, then there’s the rest of us, those 350 million regular citizens, who’s fortunes haven’t fared quite so well.
The downside to government living high is the high cost to us. This may come as news to democrats, but unlike numbers dollars are not infinite. If Obama spends $4M on a Hawaiian holiday (like he just did) it’s made possible because those dollars came from other than his own pocket. The government has been doing that (taking our money) since the very beginning because it was necessary to provide for certain fundamental things like defense, highways, etc. With each passing year more special needs arose…we call that mission creep. That’s the one thing they have done consistently well (mission creep and spending) and they are getting more creative at it with every passing year. Those basic special needs have come full circle to mean special interests and that often translates to personal interests (political fortunes), but I digress.
One of the governments big advantages over you and me is they get to print money. In this way you don’t see them taking money directly out of your pocket, but it amounts to the same thing. They are just putting it on your credit card and hoping you won’t notice. The reality is, all those charges are going to be due and payable or those dollars in your pocket will become worthless. We’re approaching that date – that’s the real fiscal cliff nobody want’s to talk about.
$16 trillion and counting is the big number for 2013. That’s the national debt and the president has just asked Congress to lift the nation’s credit limit to an indefinite number. In this way he can create a whole new single payer health insurance program for us, among many other lesser right down to the $3.3 billion in pork spending for FY 2012.
Only $3.3 billion? Now some might argue that’s a lot less than it’s been in prior years. Maybe… and maybe not! When we’re dealing with numbers things aren’t always as they appear. Not included in that new pork are the hidden cost’s of the old pork disguised in the budget as “additional funding for ongoing work” and “continuing authorities program, cute titles like that, so they don’t draw too much attention.
Here’s some new numbers for 2013: 39.6%… that’s the new number for the highest tax bracket. Followed by 36% and 31% for the next two lower brackets…and then 25%. That’s your number if you earn at least $35,351, but not over $87,850. But, it doesn’t stop there because taxes continue in sales tax, federal excise tax, social security tax, property tax, luxury tax, gasoline tax, state income tax and more. By the time you add up these numbers the average person, and I’m not talking about the average rich person, I’m talking about that guy making $35k a year, they will pay 58% of their income back to the government in taxes. Now that’s how good government has become at removing your wealth for redistribution without you noticing too much.
But, as the commercial goes, there’s more, much more! Here’s partial list of other taxes one might pay during the course of a year; •Accounts Receivable Tax, •Building Permit Tax •Capital Gains Tax •CDL license Tax •Cigarette Tax •Corporate Income Tax •Court Fines (indirect taxes) •Deficit spending •Dog License Tax • Federal Unemployment Tax (FUTA) •Fishing License Tax •Food License Tax •Fuel permit tax • Hunting License Tax
•Inflation •Inheritance Tax Interest expense (tax on the money) •Inventory tax IRS Interest Charges (tax on top of tax) •IRS Penalties (tax on top of tax) •Liquor Tax
•Local Income Tax • Marriage License Tax •Medicare Tax • Real Estate Tax •Septic Permit Tax •Service Charge Taxes • Road Usage Taxes (Truckers). •Recreational Vehicle Tax
•Road Toll Booth Taxes •School Tax •State Unemployment Tax (SUTA) •Telephone federal excise tax •Telephone federal universal service fee tax •Telephone federal, state and local surcharge taxes •Telephone minimum usage surcharge tax •Telephone recurring and non-recurring charges tax •Telephone state and local tax •Telephone usage charge tax •Toll Bridge Taxes •Toll Tunnel Taxes •Traffic Fines (indirect taxation) •Trailer Registration Tax •Utility Taxes •Vehicle License Registration Tax •Vehicle Sales Tax •Watercraft Registration Tax •Well Permit Tax •Workers Compensation Tax and off road vehicle tax.
So when you hear someone ragging on Republican’s stalling this latest round of tax hikes and how we don’t actually pay that much in taxes…Please, just hand them this little article and then ask them if they ever heard the story about. . . the frog in the pot?