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Obamanomics: Class Warfare vs Pro-Growth Tax Policy And The Coming Taxmagedden.

Via the Center for Freedom and Prosperity:

Even though he promised to bring Americans together, President Obama has used class-warfare tax policy to persecute and demonize successful entrepreneurs and investors. This mini-documentary from the Center for Freedom and Prosperity Foundation explains why the tax code shouldn’t be used for anything other than fairly and neutrally collecting a minimum amount of revenue to fund the legitimate functions of the federal government.

If that doesn’t worry you, the coming Taxmagedden should.

What is “Taxmagedden?”

In January 2013, the largest tax increase in the history of the country will strike and it will impact everyone.

A horrifying combination of expiring pro-growth tax policies from 2001 and 2003, the end of the once-temporary payroll tax cut, and just a few of Obamacare’s 18 new tax hikes, Taxmageddon will be the largest tax increase EVER to hit Americans. It’s nearly $500 billion in one year, starting January 1. That’s two months away.

The number $500 billion is rather large and abstract, so The Heritage Foundation has broken down the expected tax increases per person just for 2013:

Families with an average income of $70,662: tax increase of $4,138
Baby boomers with an average income of $95,099: tax increase of $4,223
Low-income workers with an average income of $24,757: tax increase of $1,207
Millennials with an average income of $23,917: tax increase of $1,099
Retirees with an average income of $42,553: tax increase of $857

That’s pretty much everyone, isn’t it?

Obama and his policies are destructive to the country, and rob Americans of their economic and individual freedoms.

It is no secret that we are not Obama fans here at Raised on Hoecakes, so when the tax bill arrives on your door, and you can remember pulling the voting lever for Obama, don’t come to us screaming about bills to pay, not having money, etc. That one will be on you.

PS. Just because we like pictures and infographs, below is one provided by the Heritage Foundation on the effects of “Taxmagedden.”




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