Obamacare (PPACA) Taxes Explained

Hat tip: BY

“I absolutely reject that notion...For us to say that you’ve got to take a responsibility to get health insurance is absolutely not a tax increase,” Obama said. “You can’t just make up that language and decide that that’s called a tax increase.”  --President Barack Hussein Obama, 2009 Interview with George Stephanopoulos

Here is a fantastic video from American College of Financial Services that sums up the taxes being levied by the Patient Protection and Affordable Care Act (PPACA, or "Obamacare") starting January 2013.  If you are a taxpayer filing singly earning > $200,000, or filing jointly earning > $250,000, you will be hit hardest by these new taxes.

So with all the rhetoric about protecting the "middle class," if you earn over $200-$250k, you are considered rich and deserve to be taxed more.  It appears the middle class is being slowly squeezed through the ceiling for the "middle class" being established at $200-250k while simultaneously using Quantitative Easing 3 (or "QE Infinity") to devalue the dollar, forcing a person to earn more to maintain their lifestyle.  Those in the middle class may soon find themselves bumping up against the $200/250k ceiling which discourages them from earning more.

I feel for the people trying to get by in places like the Northeast and the West Coast where the cost of living is already high...the Democratic base, by the way.

Link to video: Post Election PPACA Tax Implications

Link to article where President Barack Hussein Obama declares that Obamacare is not a tax: http://www.whitehousedossier.com/2012/06/28/obamas-obamacare-bait-switch/

--Against All Enemies

Against All Enemies Blog: http://aaenemies.blogspot.com
AAE on Facebook: https://www.facebook.com/AgainstAllEnemies (Click "Like")
AAE on Twitter: https://www.twitter.com/@AAEnemies

Disclaimer: These opinions are solely my own, and do not reflect the opinions or official positions of any United States Government agency, organization or department.

QE3 and Seven Reasons to Abolish the Federal Reserve

"I think the country should have panicked over what the Fed is saying that we have lost control and the only thing we have left is massively creating new money out of thin air, which has not worked before, and is not going to work this time."

--Rep. Ron Paul (Texas)

"Ratings firm Egan-Jones cut its credit rating on the U.S. government to "AA-" from "AA," citing its opinion that quantitative easing from the Federal Reserve would hurt the U.S. economy and the country's credit quality."  CNBC (link)

Ben Bernanke and the Federal Reserve have decided to launch into QE3, or Quantitive Easing 3, which essentially means that they are going to start printing more money (increasing taxes on the American population by reducing the value of the dollar and causing inflation) in order to improve our economy.

How much?  $40,000,000,000 per month until things improve.  It sounds like the stopper has been pulled out of the bathtub and we're all going down the drain.

Here are some select articles about the Fed's decision:

• The Last 14 Days Will Go Down As A Turning Point In The History Of Economics
• Ron Paul: “Country Should Panic Over Fed’s Decision”
• Marc Faber: If I Were Bernanke, I Would Resign
• U.S. Credit Rating Downgraded After Fed Pumps More Money
• Fed's 'QE Infinity': Four Things That Could Go Wrong

Here are the seven reasons identified by G. Edward Griffin, author of "The Creature from Jekyll Island," why we need to abolish the Federal Reserve:

1. It is incapable of accomplishing its stated objectives.
2. It is a cartel operating against the public interest.
3. It is the supreme instrument of usury.
4. It generates our most unfair tax.
5. It encourages war.
6. It destabilizes the economy.
7. It is an instrument of totalitarianism.

I encourage you to find a copy of this book and read it to gain a better understanding of our monetary system, and an appreciation for the current situation we are in.  In it, Griffin explains in detail each one of the reasons he believes the Fed should be abolished.

Is it too late?  Who knows.  But I have to say it's not looking good for the home team.  With QE3 timed with the violent protests in the Muslim world and what is most likely an imminent war with Iran, it is a powder keg being filled with more explosive powder.

--Against All Enemies

Disclaimer: These opinions are solely my own, and do not reflect the opinions or official positions of any United States Government agency, organization or department.