Huge tax increases imminent in USA. Avoid.

HOOOOLy CRAp, federal taxes at 40% again with no end in sight, ONLY UP UP UP to go. Its a disaster for wealth creation, on the other hand if you are a toilet attendant or odd job labourer its great, as the OBAMA NATION implements communism

Obama's First Budget Seeks To Trim Deficit
Plan Would Cut War Spending, Increase Taxes on the Wealthy

By Lori Montgomery and Ceci Connolly
Washington Post Staff Writers
Sunday, February 22, 2009; A01

President Obama is putting the finishing touches on an ambitious first budget that seeks to cut the federal deficit in half over the next four years, primarily by raising taxes on businesses and the wealthy and by slashing spending on the wars in Iraq and Afghanistan, administration officials said.

Obama proposes to dramatically reduce those numbers, said White House budget director Peter Orszag: "We will cut the deficit in half by the end of the president's first term." The plan would keep the deficit hovering near $1 trillion in 2010 and 2011, but shows it dropping to $533 billion by 2013, he said -- still high but a more manageable 3 percent of the economy.

To get there, Obama proposes to cut spending and raise taxes. The savings would come primarily from "winding down the war" in Iraq, a senior administration official said. The budget assumes continued spending on "overseas military contingency operations" throughout Obama's presidency, the official said, but that number is lower than the nearly $190 billion budgeted for Iraq and Afghanistan last year.

Obama also seeks to increase tax collections, mainly by making good on his promise to eliminate some of the temporary tax cuts enacted in 2001 and 2003. While the budget would keep the breaks that benefit middle-income families, it would eliminate them for wealthy taxpayers, defined as families earning more than $250,000 a year. Those tax breaks would be permitted to expire on schedule in 2011. That means the top tax rate would rise from 35 percent to 39.6 percent, the tax on capital gains would jump to 20 percent from 15 percent for wealthy filers and the tax on estates worth more than $3.5 million would be maintained at the current rate of 45 percent.

also dont forget that America has GIFT TAX. oh my god it is unheard of

I will not mind paying a tax for a basic universal public healthcare. Luckily, in OZ, it is charged as a separate levy of 1.5% so we know what we are paying for.

If this public healthcare tax can prevent a breakout of infectious diseases like SARS, Foot and Mouth disease, Cholera, etc. It is money well spent. The last thing we want are poor servants passing on their diseases to those who can afford better healthcare or poor workers passing on the diseases to their bosses.





Swelling ranks of US jobless yearn for health insurancePosted: 22 February 2009 1113 hrs

A homeless person rests at a subway stop near the White House.


FORT WAYNE, Indiana: For many among the growing ranks of unemployed workers in the United States, the scariest part of losing their job is losing their health insurance.

Even before the current economic crisis, 45 million Americans were uninsured. That number is expected to rise to 54 million by 2019 if changes aren't made to the system, according to the director of the non-partisan Congressional Budget Office.

One of the swelling ranks, Amy Newlin, has been getting by on her savings and unemployment benefits after she and her husband lost their jobs last fall.

But while they can cut back on dinners out, new clothes or other inessentials, the costs of treating her diabetes, high blood pressure and thyroid difficulties have risen dramatically.

"I need insulin strips to test my blood, and medicine for my high blood pressure," Newlin told AFP.

"My insulin is 80 dollars a bottle without insurance and the strips are expensive, too. It's not easy to keep up."

The Indiana woman was one of dozens who attended a meeting Thursday for uninsured people to register for government-funded health care.

Health officials held the clinic in the basement of an elementary school to deal with a surging number of applicants as a flood of layoffs forced scores of area residents off their employer-provided plans and into the peril of being uninsured in America.

Newlin arrived prepared with a folder jammed with old pay stubs, her birth certificate and all the other necessary documents to ensure she would be signed up.

But even if she qualifies, it will be some time before she's insured and any serious illness or accident could still bankrupt her family.

Health care has long been a contentious issue in American social and political life.

High costs, the exclusion of patients with pre-existing conditions and bureaucratic snafus plague the private system, which is unattainable for a growing number of Americans.

The federal government manages two health care systems: Medicaid -- for the poor -- and Medicare -- for the elderly. They currently amount to 5 per cent of America's gross domestic product.

But the costs will more than double to 12 per cent by 2050, under the Congressional Budget Office's current estimates.

Indiana launched a plan at the start of 2008 to cover some -- the working poor, single parents, the moderately disabled -- who are not protected by Medicaid.

Residents aren't eligible until they've gone six months uninsured, and there's a small pay-in for participants, helping to hold down costs.

President Barack Obama made health care reform a central plank in his populist platform when he ran for the White House.

And the massive stimulus package he signed Tuesday included plans to help cover the cost of temporary coverage for scores of displaced workers and possibly extend Medicaid coverage to other uninsured Americans who would not normally be eligible.

Yet comprehensive reform has been hampered by the distraction and cost of the current economic crisis, along with the loss of Obama's first pick for health secretary, Tom Daschle, who withdrew from consideration amid questions about his tax history.

Washington's political wrangling is a far way from those gathered in the colorful basement cafeteria of Indiana's Fairfield Elementary School.

Newlin, for one, doesn't hold out much hope for the government to solve anything soon.

"I don't even know if they know where half that money is going," she said of the stimulus.

Jerome and Brenda Lewis, a couple in their mid-50s, have been without insurance since October when she lost her job -- and their coverage.

They are hopeful Obama will bring change and are thankful for the work of people who organized the clinic, but turn to a greater power for balance in these unsteady times.

"Right now, by the grace of God, everything is all right for us. We keep praying that everything will be all right," Jerome Lewis said.

- AFP/yt

neddy said:

I will not mind paying a tax for a basic universal public healthcare. Luckily, in OZ, it is charged as a separate levy of 1.5% so we know what we are paying for.

If this public healthcare tax can prevent a breakout of infectious diseases like SARS, Foot and Mouth disease, Cholera, etc. It is money well spent. The last thing we want are poor servants passing on their diseases to those who can afford better healthcare or poor workers passing on the diseases to their bosses.

Click to expand...

what to do? high taxes and still pay through roof for health insurance, and with rampant racism, bank failures and civil unrest....

its U Arse A after all.

U Arse A....
U Arse A...

imperialarms said:

what to do? high taxes and still pay through roof for health insurance, and with rampant racism, bank failures and civil unrest....

its U Arse A after all.

U Arse A....
U Arse A...

Click to expand...

U Arse A is just like Singapore, take care of the rich and oppress the poor. Its the worst place now among the first world ocuntries if you are a poor or middle class.