A prime example of this willful ignorance is the ludicrously labeled Affordable Care Act. Under this reputed humanitarian legislation (for which not one single Republican voted) Medicare tax increased 62% (from 1.45% to 2.35%), payroll tax increased 52% (from 37.4% to 52.2 %), capital gains tax increased 87% (from 15% to 28%), dividends tax increased 164% (from 15% to 39.6%), estate tax went form 0 to 55%, and top bracket income tax increased 13% (form 25% to 39.6%).
And this was not even a tax law. This was a health care law. Furthermore, the ACA mandates still more tax increases for 2015!
And all of this is on top of the highest corporate income tax in the world. The fact that the American economy has endured despite this persistent attack on its health is a testimony to its strength – and to its resilience, since many companies have simply found ways to Burgerking themselves out from under the US tax burden.
Of course, that further reduces the wealth available for taxation in the United States.
Meanwhile Obama has his regulatory minions working overtime to get 1200 new regulations enacted before the end of the year, most of them designed to limit the paltry 3% human contribution to the amount of Carbon Dioxide entering the atmosphere. (97% of Carbon Dioxide comes from non-human sources such as rotting vegetation, termites, volcanoes, and animal flatulence.)
These new regulations include a proposed EPA rule for controlling emissions from brick kilns. Man has been using brick kilns for 40,000 years, and suddenly the EPA decides they pose a health problem? And a problem that needs to be addressed, please take careful note, by the federal government!
Apparently the EPA is intent on destroying not only the coal industry, but the brick industry as well. And it is spending the money we're borrowing from China on such frivolous make-work projects as mandating the energy efficiency of wine chillers and regulating dentists' handling and disposal of mercury.
I'm old enough to remember when mercury metal was used for backing on mirrors, and not infrequently some would leak out and roll in little silver balls across the marble tops of our wash stands. When we were kids, we used to play with it. And it never hurt anybody. (Of course, our elders told us it was poisonous and not to put it in our mouths. And unlike children today, we had been taught to obey our elders.)
Between taxes and regulations, the United States is being slowly but inexorably murdered. It is the apparent intent of Obama/Soros to effect that murder through the application of myriad seemingly minor and almost unnoticeable incisions that, cumulatively, will stifle investment, innovation, and industry and will ultimately result in the death of the American republic – the death of a thousand cuts.
Are we going to sit on our sofas and allow that to happen?