Pelosi Doublespeak

Have you seen this one?  I've shared - many times - here at Gather the increases everyone will have because Obama decided not to continue the Bush tax benefits.  Liberals wrongly think that Bush only provided tax benefits to the rich.  That's what liberal politicians want them to think, and they do what is expected of them.

 

Here’s Nancy Pelosi using her famous doublespeak to try to say that raising taxes (by eliminating the Bush tax benefits) isn’t really raising taxes.

 

 

 

 

 

 

“I want to eliminate the Bush tax cuts,” Obama told CNN’s Wolf Blitzer in a May 2008 interview.

In a June 2007 at a Democratic debate at Washington, D.C.’s Howard University, Obama said that repealing the Bush tax cuts would help pay for universal health care and other social programs he envisioned.

“The Bush tax cuts -- people didn't need them, and they weren't even asking for them, and that's why they need to be less, so that we can pay for universal health care and other initiatives,” Obama said.

1)

Every income tax bracket will rise, with the lowest tax bracket getting the biggest increase – from 10% to 15%.

 

2)

People with no income will see a reduction in benefits from those refundable tax credits.

Yes, people, Bush did take care of those who were poor.  And Obama wants to take these benefits away from you.  And you agreed to that when you voted for him, knowing that he was going to allow the Bush benefits to expire in 2010.

 

3)

Bush made the Child Tax Credit $1000, money that can be earned even if no income tax is owed.  Remember that one?  When this benefit expires, it drops back to $500.

 

4)

Capital gains taxes are rising as well.  If you’re in the 10% bracket, the increase is from 8 to 10%.  For everyone else, it’s going up to 20%.  (I know you think this only affects the rich.  But if you sell your house and make money on it, that’s capital gains.)

 

5)

Tax on dividends will also go up.  Right now, those in the lowest tax bracket are not taxed on dividends.  Can the poor even be receiving dividends?  Of course.  When I was young, I had a life insurance policy that paid minimal dividends each year.  That would be taxed now, after the Bush tax benefits expire.  Dividends will be taxed at the regular rate for everyone, the newly raised rates, of course.

 

6)

The estate tax or death tax will be back.  Some don’t care about that.  But you don’t have to be a millionaire to be leaving $1 million or more when you die.  If you add real estate, a small business, and a life insurance policy together, it could easily add up to $1 million.  Well, guess what.  You’ll be taxed on that at those high death tax rates that no one cares about because it’s all about sticking it to the “rich”.

 

 

 

 

Tax Increases Loom