Remember that the rhetoric from the Obama administration has changed since PrezBo was on the campaign trail. His pledge not to raise taxes on middle class families “not one dime” morphed into … well that was more like a suggestion, not a promise. But now it is only a matter of time before Barack Obama breaks that suggestion, promise, whatever. The writing is on the wall. There is absolutely no way that we can continue our current level of spending and our current entitlement culture without raising taxes. At least in the mind of a Democrat. Some Democrats may realize that you can only tax the rich so much. While the sales pitch of taxing the rich may be a lot easier on the campaign trail, the truth is that the middle class will also see their taxes increase.
House Majority Leader Steny Hoyer said that tax increases will eventually be necessary in order to address our mounting debt problem. He even raised the possibility of only temporarily extending middle-class tax cuts, otherwise known as the Bush tax cuts. Let me translate that liberal speak for you .. “only temporarily extending middle-class cuts” really means that taxes are going to increase for the middle-class. Somehow, letting a tax cut expire has become the politically correct way to say “raise taxes.” Hoyer says that making the tax cuts permanent would be “too costly.” Too costly? To whom? To the government, which takes money from you to pay for its ever-growing budget .. much of which is filled with waste, abuse and entitlements for deadbeats.
What is really going to happen here, folks? The Democrats will let the tax cuts for the rich expire at the end of this year. So for you people who have made a success out of yourself — who provide the jobs, who spend the money which creates jobs – your taxes will be going up, which means that you will have less to spend and invest and use to hire. But tax cuts for the middle-class may be temporarily extended, but that will only be until the Democrats have their next pawn positioned on the board: a value-added tax. It’s coming. So while the VAT is top of mind, take a look at what is happening with the VAT in the UK. How’s that for a tax increase?