Topic: Taxation
Who Will Be Able to Pay These Taxes? On Wednesday, July 23, 2008, Congress did a double belly-flop. They stupidly bailed out the "Banks that tanked" then increased minimum wage to $6.55 an hour.by Dan Steward
(libertarian)
Wednesday, July 23, 2008
The House of Representatives today decided to ignore the true causes of intense pain in the housing market, and let Freeloading Freddie Mac and Fiendish Fannie Mae get a pass for ripping off American home buyers and the taxpayers. They seldom get it that when any market stumbles and falls, it's because the government pushed them.
It will be very interesting to find out who Leviathan will send to protect the reputations of the federal architects of disaster when the masses gather with pitchforks and torches, thirsty for tax revolt. These taxes will be more than people will be able to dream of paying once the final bill is tallied.
Taxes will be attempt to be raised and even more likely, in an extremely steep way, to pay for the "Banks that Tanked" fiasco. A truly hard lesson learned in just how intensely stupidity can be engineered by Uncle Sam himself and his failed policies of government interference in the housing market.
The bailout is enormous and is being carefully fed to a soon to become enraged public, only a chunk at a time, it appears. The first bite of the bailout handout is sung to a somewhat paltry tune of $3.9 Billion. It will come in the form of "grants" to poor neighborhoods, which will assure us all that it will be wasted, misspent, and pocketed by more people who are administrating it than those who would make use of it.
Keep in mind that these new tax increases will come dumped on the same doorstep of Americans who are now being ripped off by the banks.
On this day that will live in infamy their brains also voted to vacation early from the contents of their heads. This they did by enabling the dreaded extreme fleecing agent against business, the Minimum Wage, to be raised on Thursday from $5.85 to $6.55 an hour. This would place further onerous strains on small businesses, already struggling to keep costs under control.
Many factors contributed to this mess. What these factors have in common is that the Government interfered and every time it did the people suffered. It has been spelled out for us that we are to suffer further before this country rights itself and limps away from this nightmare.
With Liberty,
Dan Steward
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