Vail Daily letter: Obama’s promises
Vail, CO, Colorado
On Sept. 12, 2008, President Obama reassured the American public that his proposed health care bill would not increase taxes of any form or kind.
He stated: “I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.”
A little-known provision in the health care act that was signed into law by Mr. Obama in fact imposes a 3.8 percent tax on unearned income, including sales of single family homes, townhouses, co-ops, and condominiums.
In fact, the act levies upon the American taxpayers over $500 billion in new taxes over the next 10 years in addition to the 3.8 percent tax imposed on the sale and transfer of real property holdings.
This 3.8 percent surcharge against real estate takes effect on Jan. 1, 2013, and will be devastating to the equity savings of the American middle-class whose base wealth is tied up in their homes, notwithstanding the fact that the majority of those homeowners make less than $250,000 per year.
It is noteworthy that the tax is not imposed on the sale, trade or transfer of commercial-industrial properties, especially corporately owned real estate; e.g., GE, which paid no taxes in 2010. So “too big to fail” also equates to “too big to pay.”
When called upon recently to lessen the tax load carried by American taxpayers, Obama was only amenable to an inconsequential and nominal pittance against over a trillion dollar budget for 2011.
He continues to pledge to cut taxes, cut the deficit, reduce the public debt and create jobs. Yet there have been no results in the past or any expected in the future.
Mr. Obama’s “pledges” are in reality made for the ears of a different master – not the American people. He answers to the power elite, to the labor unions, to his “czars,” to a global cabal of freeloaders and opportunists reposited in the United Nations, and foremost, only to himself.
It is almost like his allegiance is to “Rules for Radicals” (Alinski) rather than to the Constitution of the United States (Madison et al).
When Obama revisits the campaign of 2012 for re-election to his high office, listen again to his pledges, promises and grand visions of change.
Remember his promise of a cap on unemployment of no more than 8 percent were his daunted $700 billion recovery bill to be approved. Remember his promise to extricate America from the ill-begotten foreign wars of the Middle East.
If you believe him again, then you simply have no sense of history, lack the acumen to learn from it, or are truly on a fool’s errand.