Americans Will Be Led Into Servitude By the State

As the US fourth-quarter gross domestic product decreases, per the Commerce Department on Friday, with the worst quarterly showing since the 6.4% decrease in GDP since 1982 with a whopping 6.2%, President Obama has the cure, Higher Taxes!

When have higher taxes worked to bring an economy out of a recession, Never! But Americans belief in their system, and the confidence of a man with a Marxist background and no experience, who has never run anything but a campaign speaks they follow as lemmings!

The American people voted for Socialism by electing Obama President, the most liberal and inexperienced Senator in Congress.  Now as the economy heads toward the depression of 2009, Rome is burning and the fires of destruction are being fueled with the gasoline of higher taxation, to fund an ever expanding government.

When a people become complacent, fed by pictures and words they believe in, and combine their faith in the State as if that were the Church, they will follow their newly crowned Pope and his apostles into subservience.  It is time for the few to vote with their dollars and pull them out of the corrupt system and deposit them into local institutions not yet controlled by the State.

Just as the holocaust victims were led to their deaths without a fight so too are Americans being quietly herded by the lies of their guards, to the chambers of servitude while their beautiful country’s foundation of freedom and liberty is burned, all in the name of the State.

Chris Gonsalves writes about the greatest theft of funds through taxation in the history of the World.

President Obama’s $1 Trillion Tax Hike Plan

Looking to fund an ambitious healthcare program and put more money in the hands of the poor and the non-working, President Barack Obama wants wealthier Americans and businesses to pay nearly $1 trillion in higher taxes over the next decade.

In his proposed 2010 budget, released today, Obama suggests bringing back the top two Clinton-era tax rates of 36 percent and 39.6 percent for the nation’s highest earners. Those taxpayers currently pay 33 percent and 35 percent. More than 2.6 million Americans would be forced to pay the higher rates, according to Bloomberg News.

Tax rates on capital gains and dividends will rise to 20 percent for top earners, up from the 15 percent rate set by former President George W. Bush in 2003.

“It’s a clear repudiation of Bush’s policy,” Peter Morici, an economist at the University of Maryland in College Park, tells Bloomberg. “It’s more Obama Robin Hood.”

As if the rate changes weren’t enough, Obama also proposes punishing the rich by stopping the scheduled repeal of the controversial estate tax next year. The president suggests imposing a 45 percent tax rate on any family’s estate worth more than $7 million.

The Obama tax hikes also include new restrictions on itemized deductions for families that earn more than $250,000 per year. Deductions for things like charitable donations, mortgage interest and investment expenses will be capped at 28 percent for the wealthiest taxpayers, some 30 percent less than they currently get.

By 2020, taxpayers in the wealthiest households will pay $636.7 billion in additional taxes according to estimates in the budget proposal.

The changes would be phased in gradually over the next few years, according to an analysis of the budget by the Wall Street Journal. For the 2009 tax year, the 33 percent tax bracket starts with couples with adjusted earnings of $208,850. A taxpayer in the top bracket paying $1,000 of mortgage interest, for example, would see a tax break worth $350 reduced to $280.

According to estimates from Deloitte Tax, a married couple with 2 children under age 17 and income of $500,000 a year would owe approximately $11,300 more than under current law if all of the tax provisions in Obama’s budget request outline were enacted, CNN reported.

The remainder of the $1 trillion tax hike would come from $353.5 billion in additional levies on businesses, especially U.S.-based multinational corporations. Obama’s proposal calls for significantly rewriting the rules on the taxability of profits earned overseas, increased enforcement of international tax collections and changes in accounting that would serve as a “windfall profits tax” aimed largely at the oil companies.

“This budget plan is once again a missed opportunity for American taxpayers — it raises taxes on all Americans, implements massive new spending and fails to make any tough choices to control the deficit,” Sen. Judd Gregg, R-N.H., the top Budget Committee Republican, told the Associated Press. Gregg was nominated by Obama to join his Cabinet as commerce secretary but later withdrew.