Monthly Archives:September 2012

Read the entire article.  It’s breathtaking.

 

Sunday will mark the start of the 100-day countdown to “Taxmageddon” – the date the largest tax hikes in the history of America will take effect.  They will hit families and small businesses in three great waves on January 1, 2013:

First Wave: Expiration of 2001 and 2003 Tax Relief

In 2001 and 2003, the GOP Congress enacted several tax cuts for small business owners, families, and investors (later re-upped by President Obama and Democrat Congress in 2010).  The following tax hikes will occur on January 1, 2013:

Personal income tax rates will rise on January 1, 2013.  The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which the majority of small business profits are taxed).  The lowest rate will rise from 10 to 15 percent.  All the rates in between will also rise.  Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates.  The full list of marginal rate hikes is below:

-The 10% bracket rises to a new and expanded 15%

-The 25% bracket rises to 28%

-The 28% bracket rises to 31%

-The 33% bracket rises to 36%

-The 35% bracket rises to 39.6%

Higher taxes on marriage and family coming on January 1, 2013.  The “marriage penalty” (narrower tax brackets for married couples) will return from the first dollar of taxable income.  The child tax credit will be cut in half from $1000 to $500 per child.  The standard deduction will no longer be doubled for married couples relative to the single level. 

Middle Class Death Tax returns on January 1, 2013.  The death tax is currently 35% with an exemption of $5 million ($10 million for married couples).  For those dying on or after January 1 2013, there is a 55 percent top death tax rate on estates over $1 million.  A person leaving behind two homes and a retirement account could easily pass along a death tax bill to their loved ones.

Higher tax rates on savers and investors on January 1, 2013.  The capital gains tax will rise from 15 percent this year to 23.8 percent in 2013.  The top dividends tax will rise from 15 percent this year to 43.4 percent in 2013.  This is because of scheduled rate hikes plus Obamacare’s investment surtax.

via Americans for Tax Reform : 100 Days Until Taxmageddon.

General Motors Co is recalling 473,841 Chevrolet, Pontiac and Saturn sedans globally to fix a condition that could lead the cars to roll when the drivers think they are in park, the No. 1 U.S. automaker said on Friday.

GM said it was aware of four crashes that resulted from the problem, but no injuries.

The company said the recall affected Chevy Malibu, Pontiac G6 and Saturn Aura cars from model years 2007 through 2010 and equipped with four-speed automatic transmissions. GM will repair the condition in which the transmission gear position may not match the gear on the shifter.

The recall affects 426,240 in the United States, 40,029 in Canada and 7,572 in other markets.

Dealers will add a reinforcement to the shift cable end fitting to prevent that part from fracturing, GM said. Owners will be notified by letter to schedule the free repairs at dealers, and those who have had the work done already will be eligible for reimbursement.

via GM recalling almost 474,000 cars over problem with gear shift – Bottom Line.

These pastors are forgetting you are using a gov’t instrument to get around paying taxes.  Because you are using a gov’t instrument the gov’t can most assuredly do this.  Want freedom from gov’t interference?  Drop your NPO status voluntarily.  if you are paying taxes as per the laws of the land you can preach anything you want.

 

More than 1,000 pastors are planning to challenge the IRS next month by deliberately preaching politics ahead of the presidential election despite a federal ban on endorsements from the pulpit.

The defiant move, they hope, will prompt the IRS to enforce a 1954 tax code amendment that prohibits tax-exempt organizations, such as churches, from making political endorsements. Alliance Defending Freedom, which is holding the October summit, said it wants the IRS to press the matter so it can be decided in court. The group believes the law violates the First Amendment by “muzzling” preachers.

“The purpose is to make sure that the pastor — and not the IRS — decides what is said from the pulpit,” Erik Stanley, senior legal counsel for the group, told FoxNews.com. “It is a head-on constitutional challenge.”

Stanley said pastors attending the Oct. 7 “Pulpit Freedom Sunday” will “preach sermons that will talk about the candidates running for office” and then “make a specific recommendation.”

“We’re hoping the IRS will respond by doing what they have threatened,” he said. “We have to wait for it to be applied to a particular church or pastor so that we can challenge it in court. We don’t think it’s going to take long for a judge to strike this down as unconstitutional.”

An amendment was made to the IRS tax code in 1954, stating that tax-exempt organizations are “absolutely prohibited from directly or indirectly participating in, or intervening in, any political campaign on behalf of (or in opposition to) any candidate for elective public office.”

“Violation of this prohibition may result in denial or revocation of tax-exempt status and the imposition of certain excise tax,” the IRS says in its online guide for churches and religious organizations seeking tax exemption.

via Pastors pledge to defy IRS, preach politics from pulpit ahead of election | Fox News.

Obama administration officials have insisted that their decision to grant states waivers to redefine work requirements for welfare recipients would not “gut” the landmark 1996 welfare reform law. But a new report from the Congressional Research Service obtained by the Washington Examiner suggests that the administration’s suspension of a separate welfare work requirement has already helped explode the number of able-bodied Americans on food stamps.In addition to the broader work requirement that has become a contentious issue in the presidential race, the 1996 welfare reform law included a separate rule encouraging able-bodied adults without dependents to work by limiting the amount of time they could receive food stamps. President Obama suspended that rule when he signed his economic stimulus legislation into law, and the number of these adults on food stamps doubled, from 1.9 million in 2008 to 3.9 million in 2010, according to the CRS report, issued in the form of a memo to House Majority Leader Eric Cantor, R-Va.“This report once again confirms that President Obama has severely gutted the welfare work requirements that Americans have overwhelmingly supported since President Clinton signed them into law,” Cantor said in an emailed statement. “It’s time to reinstate these common-sense measures, and focus on creating job growth for those in need.”Under the rule adopted in 1996, food stamps for able-bodied adults without dependents were limited to three months in a 36-month period unless the participant in the program “works at least 20 hours a week; participates in an employment and training program for at least 20 hours per week; or participates in a Supplemental Nutrition Assistance Program ‘workfare’ program for at least 20 hours per week.”Obama’s economic stimulus legislation suspended the rule for all states starting April 2009. Delaware continued to enforce the rule anyway, along with New York City and parts of Colorado, South Dakota, and Texas. This suspension expired at the end of the 2010 fiscal year Sept. 30, 2010 and Congress rebuffed Obama’s requests to extend it in his fiscal years 2011 and 2012 budgets. However, Obama used his regulatory authority to effectively extend the waivers to nearly all states over the past two years. The law grants the executive the authority to do this in states where the unemployment rate is above 10 percent or there’s a “lack of sufficient jobs.”

via CRS report: number of able-bodied adults on food stamps doubled after Obama suspended work requirement | WashingtonExaminer.com.

nough said

 

Its pretty simple, really.There is a long history in Presidential elections, and the Muslims are not stupid — The American people typically will not change a President during a significant armed conflict or other time of material international disruption.Think about it.And then consider this — Obama is as about as friendly to radical Muslims as a US President could ever be without inviting them to the White House for his daily security briefings and giving them the keys to our arms depots.So we have escalation now, with the intent of drawing in the United States and driving outrage here at home.If that is achieved, the bet is, the American people will not “take a risk” with Romney.Im willing to bet the Muslims are scared to death that Romneys first act will likely be to pull a Reagan as he is rumored to have done with Iran when he won election, telling the Iranians that if the hostages were still being held when his hand went on the Bible they were going to find out about the truth of that 72 virgins in paradise schtick roughly 15 minutes later.I betcha thats the calculation — this is not about a “movie” or anything else — and that would nicely explain the mealy-mouth crap coming from Obama and Hillary too.The bottom line is that theyre both so craven that keeping their job is far more important than anything else — like, for instance, the lives of our embassy staffers.We already know what they think of The Constitution.Ill also bet that Congress doesnt have the balls to stand up and cut off the money to all these nations either.

via Market-Ticker – MarketTicker Forums.

Since FB required https(which means i have to pay somebody $$4 to say I am who I ma on the web i found a workaround..:)  Now i can freely post on both this blog and my eccmd.com blog and know they will both post properly on my FB timeline..:)