New taxation on ALL CLASSES revealed (IRS)

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New taxation on ALL CLASSES revealed (IRS)
Date: 2010-07-22, 10:25AM PDT
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The number of IRS agents needed to monitor the Health Care bill, and Fin Reg is exploding.

The financial collapse did not come from a lack of safeguards, it came from regulators looking the other way, from Bush to Clinton to Bush to Obama. Inside deals like Countrywide and Fannie and Freddie will continue.

Meanwhile, every day, a new tax is announced. This effects ALL INCOME LEVELS, even those on welfare.

The VAT tax is going to be the biggest hit to the poor. Imagine paying 10% more overnight? Without a key vote! He will push that through like Health Care, without it being read.

Health Care is so dense and long, that only this month are details on taxation coming out of it. Imagine the paperwork on any purchase over $600! All because they claim it closes a loophole. Bullshit. It identifies anyone that makes an extra $600! Simple as that. Redistribution ! Keep the masses poor by taxation. You spend 600 on a washer? You can bet you will get a luxury tax on it! Retroactive, and they will watch your tax returns if you do a few. New car? If it is not American, you can bet new taxes are coming.

A new tax now is going to hit every small business. If you make more than $250 in the business, a big hit! Imagine this. You are a family that owns a restaurant. Husband and Wife work it, maybe even one or two children. If you make $250k, profit, before you could invest it in more tables, in extra hours and employees, in advertising, etc. Or, just enjoy your life's work in a nicer house or on vacation. But not any more. Once you hit that, immediately up to $16,000 is taken. If you make more, a new tax bracket makes that increase almost a negative. It is like having too many seats in a restaurant. Suddenly you must double your parking, and bathroom size, and everything else. Try to expand into a chain on that problem. Just opening a franchise will strip away up to 15% of your profits in taxes alone. This is a job killer. This is a business killer.

I have many successful friends. And I myself am going to make a windfall profit this year. No matter what my choices, I absolutely will not open another business. I will keep the money liquid. Due to knowing that taxes under Obama will just keep on coming? Why kill myself opening another successful business if the entire profit is taxed away? When the strip away my deduction for insurance? Holy hell, that is a 6% hit on my income. So much for Health Care not costing me or my employees anything. I will fire some, and never be able to raise the salaries of all the others. Over 20% of my income, just taken away with the vote of two bills.

Restaurants work on a small margin of about 3-15% profit at the most. You just made about all of them money losers. Dry cleaners? Same. Small grocery stores? Same. They will increase costs 15%. Ralph's works on a 2-3% profit margin. prices go up to pay for this.

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