Many of you watched the B.O. / B.O. 15-minute interview before the Super Bowl last Sunday. O’Reilly asked Obama why he was raising taxes when he pledged not to. Obama’s reply was, ‘Bill, I didn’t raise taxes once – I’ve lowered taxes over the last two years’. LIAR! And O’Reilly LET IT RIDE!
Below is a list of tax increases released last April by the House Ways and Means Committee, showing more than $670 billion in tax increases that Democrats have signed into law since January of 2009, when Barack Obama took office. The list includes “at least 14 violations of the President’s pledge not to raise taxes on Americans earning less than $200,000 for singles and $250,000 for married couples,” totaling more than $316 billion in tax increases for middle class families.
Between January, 2009 and April, 2010, President Obama and Congressional Democrats have enacted into law gross tax increases totaling more than $670 billion, or more than $2,100 for every man, woman and child in the United States. The list of tax increases includes at least 14 violations of the President’s pledge not to raise taxes on Americans earning less than $200,000 for singles and $250,000 for married couples.
HEALTH CARE BILL; Public Law 111‐148; Public Law 111‐15
New tax on individuals who don’t purchase government‐approved health insurance*
New tax on employers who fail to fully comply with government health insurance mandates*
New 40% excise tax on certain high‐cost health plans *
New ban on the purchase of over‐the‐counter drugs using funds from FSAs, HSAs and HRAs*
Increase the Medicare tax on wages and self‐employment income by 0.9% and impose a new 3.8% surtax on certain investment income (for individuals over $200,000 and couples over $250,000)
Increase, from 7.5% to 10% of income, the threshold after which individuals can deduct out of pocket medical expenses*
Impose a new $2,500 annual cap on FSA contributions *
New annual tax on health insurance *
New annual tax on brand name pharmaceuticals *
New 2.3% excise tax on certain medical devices *
New 10% tax on indoor UV tanning services *
New tax on insured and self‐insured health plans *
Double the penalty for non‐qualified HSA distributions *
Eliminate the deduction for expenses allowable to Medicare Part subsidy
Limit the deduction for compensation to officers, employees and directors of certain health insurance providers
Require information reporting on payments to corporations
Impose additional requirements for section 501(c)(3) hospitals
Make “black liquor” ineligible for cellulosic biofuel producer credit
Codify economic substance doctrine and impose penalties for Underpayments
Impose a Tax on the sale of your home – 3.5% (THIS IS NOT INCLUDED IN THE TOTAL TAX INCREASE SHOWN BELOW!!!)
SCHIP, Public Law 111‐3
Tobacco tax increase and expanded enforcement authority*
STIMULUS; Public Law 111‐5
Repeal guidance allowing certain taxpayers to claim losses of an acquired corporation
UI Benefits, NOL Relief & Home buyer Credit; Public Law 111‐92
Federal Unemployment surtaxes extended through June 2011 *
Delay of rules to reduce the double taxation of worldwide American employers until 2018 (worldwide interest allocation)
HIRE Act; Public Law 111‐147
Delay of rules to reduce the double taxation of worldwide American employers until 2021 (worldwide interest allocation)
TOTAL = $670.341 BILLION AND COUNTING…AND THESE NUMBERS ARE FROM 10 MONTHS AGO!
*VIOLATES PRESIDENT’S PLEDGE TO NOT INCREASE TAXES ON MIDDLE CLASS
Embedding has been disabled for this interview, but go here and skip to 1:10 in the interview.