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American know have a much thinner wallet

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POSTED January 8, 2013 6:58 p.m.

Every American will have a thinner wallet in 2013 due to tax increases and Obamacare.

On average, an $80 payroll tax increase plus an average $150 increase in family healthcare premiums that went into effect on January 1, 2013 will cost the average American family $230.per month. Also, two married doctors or other professionals making $225,000 each, after incurring costs and years of advanced schooling, will be penalized for being "rich" and for being married. If they also sell any investments, such as a home or stock, there is additional tax increases as well as 3.8% Obamacare fees. Obama has used socialist rhetoric to make "the rich" pay their "fair share"; but then bundled a tax loophole of political paybacks for Hollywood and Green Energy donors. Yet, other industries that hire workers must pay higher taxes and Obamacare fees. As a result, businesses will close, hire fewer workers, outsource their business to other tax-friendlier nations, or pass along the additional cost to the American people within the cost of the product.

All Americans will pay more for products and many Americans will continued to be unemployed.

Not only does America have a socialist tax problem, created through class warfare that punishes success, we have a "live for now" spending problem, which will lead to a real fiscal cliff that will cause our economic collapse. Government spending will top $4 trillion this year, while we take in $2.7 trillion in taxes, leaving a $1.3 trillion debt. Our national debt is already $16.4 trillion and expected to be $21.6 trillion before Obama leaves office. This means every American household's share of the debt will be $270,000.each.  When you count unfunded liabilities, such as Social Security, which Americans paid the government only to have the government spend the money on a promise to pay it back, our unfounded debt is really over $122 trillion according to www.usdebtclock.org.

America needs to cut spending or we, as a nation, are in real trouble. We need to stop funding billions of dollars to the Muslim Brotherhood, Egypt, and other nations that hate America.  We need to care for our own. We need to cut out government waste and pork attachments to bills. The federal government should eliminate agencies such as the Dept of Energy, which was created by President Jimmy Carter in 1977 to reduce our dependence on foreign oil. Instead, we are even more dependent on foreign oil, the yearly budget is over $242 billion with 116,000 employees.

America has already been deceived with the Obamacare tax and now Obama and the Democrats want to continue reckless spending while using deception giving America the largest tax increase in history in their effort to grow the power of the government. This is a far cry from the original founder's intent of "limited government".  President Abraham Lincoln once said, "America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves."

Frank Aquila

Manteca

Jan. 5, 2013

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