WyBlog, the best thing about New Jersey since the invention of the 24 hour diner.
Chris Wysocki
Caldwell, NJ
The nine most terrifying words in the English language are "I'm from the government and I'm here to help." - Ronald Reagan
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The Lonely Conservative sets the tone for this President's Day, by pointing out what's coming down the pike at the end of the year.
On Dec. 31, the George W. Bush-era tax cuts are scheduled to expire, raising rates on investment income, estates and gifts, and earnings at all levels. Overnight, the marriage penalty for joint filers will spring back to life, the value of the child credit will drop from $1,000 to $500, and the rate everyone pays on the first $8,700 of wages will jump from 10 percent to 15 percent.
The Social Security payroll tax will pop back up to 6.2 percent from 4.2 percent under the deal approved Friday by Congress. And new Medicare taxes enacted as part of President Obama's health-care initiative will for the first time strike high-income households.
The potential shock to the nation's pocketbook is so enormous, congressional aides have dubbed it "Taxmageddon." Some economists say it could push the fragile U.S. economy back into recession, particularly if automatic cuts to federal agencies, also set for January, are permitted to take effect. (Read More)
Hunker down. Save every dime. Stock up on canned goods and ammo. Because when Taxmageddon hits you're gonna be broker than broke. The voracious appetite of our Federal Department of Moochers and Sluggards must be satiated, and Barack Obama is just the guy to do it. Warren Buffett said it's "fair!"
We're all the 99% now. Tax bracket that is.
Besides, Aspen ski vacations are over-rated anyhow.
Unless you're living in a bubble (or driving a company car) you undoubtedly know gas prices are rising faster than your marginal tax rates. There's good news though comrades! Obama's new fuel efficiency standards will ease the pain at the pump. Really. His re-election campaign said so. And of course they'd never lie to you.
Now I'd rather believe the guy who's chanting Drill, Baby, Drill!, but that's just me.
Here's another of those distractions again. Moochelle's food police are coming for your candy bars.
Mars signed an agreement with Michelle Obama's partnership for a healthier America to stop selling chocolate products with more than 250 calories in them by the end of next year. This means popular favorites like Big Snickers and Twix bars are going to disappear off the shelves and smaller bars will shrink.
Next on her agenda, a one candy bar a month purchase limit. Because when you believe in liberalism, obesity kills more people than guns.
And just to beat the metaphor to death, sometime in Obama's second term, Operation Fat and Furious — a candy bar walking sting operation gone totally wrong. Fat little Mexican kids, unable to scale the virtual border fence, gorge themselves on the Twix bars Americans won't eat.
Eric Holder has already denied knowing anything about it.
Posted at 12:55 by Chris Wysocki
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