Buzzing throughout the now-shallow splendor
of America’s First Residence is a pestilence of perversity. Swarming in
ragged rank are the voracious hangers-on: flatterers, liars, hooligan
academics, organized labor, hypocrites, psychotics, scabrous journalists,
arm-twisting sleazebags…I mean lobbyists; and the rapidly increasing list of
appointed commissar bunko artists.
Their point man is the present occupier of
the Oval Office, who is obsessed with a deranged vision: castrate the United
States of America, lay waste our economy, scour black our credibility,
emasculate our military, strip us bare of our property and our inherent
rights, and drive us to meager existence on the fringes of freedom.
This person, whose only gift is of
effusiveness—who is not fully formed emotionally or politically and therefore,
not of sound judgment or practical—is ruthlessly determined to hamstring our
nation’s defenses and run through the shredder our alliances with other free
and democratic nations. He is dedicated to turn turtle the canons of our
Constitution and torch our Bill of Rights, as well as the other primary
documents that grant empowerment to the American People.
We’re worn to the bone. We’re scarred with
psychological sores and physically sick from anguish and dissatisfaction.
We’ve been beaten down and are nearly at the end of our endurance because of
this man’s obduracy—and he shamelessly exhibits how ineffably and imperiously
pleased he is with himself, this eater of souls.
We’re in a pitched battle to dig ourselves
out from under the financial avalanche, which is the direct result of spiteful
folly on the part of those we entrusted with our votes, and those we relied
upon to keep our earnings, our savings, and our retirement plans safe and
sound. They deceived and betrayed us.
I realize this information has gone viral
on the Internet. But I need to include it in my article so that I can be
counted among those who are incensed—no, enraged—by the slop The Lollipop
Guild have slapped down on the counter and expect that we pay through
the nose for it. And as far as I can determine, no 12-step program exists to
combat or overcome the damage this issue promises to wreak.
So, here are the tax hikes, with
description and page number:
Employer Mandate Excise Tax
(Page 275): If an employer does not pay 72.5 percent of a
single employee’s health premium (65 percent of a family employee), the
employer must pay an excise tax equal to 8 percent of average wages. Small
employers (measured by payroll size) have smaller payroll tax rates of 0
percent (<$500,000), 2 percent ($500,000-$585,000), 4 percent
($585,000-$670,000), and 6 percent ($670,000-$750,000).
Individual Mandate Surtax
(Page 296): If an individual fails to obtain qualifying coverage, he must pay
an income surtax equal to the lesser of 2.5 percent of modified adjusted gross
income (MAGI) or the average premium. MAGI adds back in the foreign earned
income exclusion and municipal bond interest.
Medicine Cabinet Tax
(Page 324): Non-prescription medications would no longer be able to be
purchased from health savings accounts (HSAs), flexible spending accounts (FSAs),
or health reimbursement arrangements (HRAs). Insulin excepted.
Cap on FSAs
(Page 325): FSAs would face an annual cap of $2500 (currently
uncapped).
Increased Additional Tax on Non-Qualified
HSA Distributions (Page 326): Non-qualified distributions
from HSAs would face an additional tax of 20 percent (current law is 10
percent). This disadvantages HSAs relative to other tax-free accounts (e.g.
IRAs, 401(k)s, 529 plans, etc.).
Denial of Tax Deduction for Employer Health
Plans Coordinating with Medicare Part D (Page 327): This
would further erode private sector participation in delivery of Medicare
services.
Surtax on Individuals and Small Businesses
(Page 336): Imposes an income surtax of 5.4 percent on MAGI over $500,000 ($1
million married filing jointly). MAGI adds back in the itemized deduction for
margin loan interest. This would raise the top marginal tax rate in 2011 from
39.6 percent under current law to 45 percent—a new effective top rate.
Excise Tax on Medical Devices
(Page 339): Imposes a new excise tax on medical device manufacturers equal to
2.5 percent of the wholesale price. It excludes retail sales and unspecified
medical devices sold to the general public.
Corporate 1099-MISC Information Reporting
(Page 344): Requires that 1099-MISC forms be issued to corporations as well as
persons for trade or business payments. Current law limits to just persons
for small business compliance complexity reasons. Also expands reporting to
exchanges of property.
Delay in Worldwide Allocation of Interest
(Page 345): Delays for nine years the worldwide allocation of
interest, a corporate tax relief provision from the American Jobs Creation
Act.
Limitation on Tax Treaty Benefits for
Certain Payments (Page 346): Increases taxes on U.S.
employers with overseas operations looking to avoid double taxation of
earnings.
Codification of the “Economic Substance
Doctrine” (Page 349): Empowers the IRS to disallow a
perfectly legal tax deduction or other tax relief merely because the IRS deems
that the motive of the taxpayer was not primarily.
* * * *
Government officials are falling all over
themselves trying to convince us that they’re doing us a favor. That is
ridiculous, bogus, and just plain wrong. Their farcical profferings are an
attack on the American People’s dignity and on our nation’s stateliness.
Remember how Obama’s armies of boosters
flapped and cawed “believe” and “hope and change” and “yes we can”? All that
squeaking and quailing have ground to blessed silence, because their distorted
illusions are what put that person in the White House, and no one knows better
than them that they have royally “screwed the pooch.”
No supporter of his who I know personally
can voice doubt about the course of destruction on which he and Congress are
taking us. And any defense of them now dies quickly for lack of basis, or is
knocked out cold by the burning stare of sober reality.
For some—the weak-minded, the spiritless,
those who have forgotten how to stand straight, their eyes fixed on their
feet—there is no remedy but to admit defeat and be cast into tax bondage.
However, for the super-majority of Americans who are the blood, the guts, and
the backbone of this country, there is no such thing.
The snapping jaws in Congress only think
they have unlimited power to grind us down and devour us. They idiotically
ignore the fact that it is the People—the stiff-necked, the proud, the
indefatigable—who are the primary overseers of the greatest country on Earth.
We are the unswerving and unchallengeable authority, not Pelosi, not Reid, not
Dodd or Murtha, not Barney Frank or Rahm “Dr. Giggles” Emanuel, and certainly
not Obama, all of whose status boils down to “temp replacements.”
Americans are battered and bruised, but we
will not yield. We will never retreat, and we will never surrender, nor will
we accept under any circumstances their burnt offerings, so help us God.