Obamas 36 New & Higher Taxes Hitting Every Income Level

Under Obama, there are already 36 new and higher taxes in place to hammer American taxpayers. Despite his promise that no couple earning less than $250,000 would have their taxes increased, 34 of the 36 new and higher taxes will impact even low-income taxpayers. Obviously, middle-income taxpayers will also be hurt by these Obama taxes. A new study by Ernst & Young concludes: Increasing taxes on higher-income Americans will result in higher taxes for 2.1 Million business owners, reduce economic output by $200 Billion and cost 710,000 jobs! A much more intelligent Democratic President, John F. Kennedy, correctly stated, "A tax cut means higher family income and higher business profits and a balanced federal budget. . . . As the national income grows, the federal government will ultimately end up with more revenues. Prosperity is the real way to balance our budget. By lowering tax rates, by increasing jobs and income, we can expand tax revenues and finally bring our budget into balance. . . . The final and best means of strengthening demand among consumers and business is to reduce the burden on private income and the deterrents to private initiative which are imposed by our present tax system . . . In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now. . . ." -John F. Kennedy Today, Obama ignores such fiscal sanity, desiring to impose greater government control over every aspect of our lives through onerous regulations, and to re-distribute income through confiscatory taxes that he already has in place.