Barney Frank (D-MA)4th District - Points the Way to More Taxes -image: stand up for America
Corrected 11-24: The Share the Sacrifice Act proposes taxes based, not on income, rather "tax liability". This liablity will affect those "middle-class households earning between $30,000 and $150,000" (Politico)The original headline and body of this op-ed has been corrected from an earnings of $22,600 to $30,000
HR 4130, entitled “Share the Sacrifice Act of 2010”, allows for an increase in Federal Income Tax to those with with an income of $30,000 per year in 2011. The Act is intended to offset the costs for the escalation in the Afghan War - the apparent surtax would be “necessary” in order to allow the current revenue levels to pay for the trillion dollar Health Care Reform Act, now before the Senate. In a Congressional document entitled:
“SHARE THE SACRIFICE ACT ENDS BORROWING TO PAY FOR AFGHAN WAR”>, the authors speak specifically about the costs of the War and its proposed drain on Health Care Reform. The Bill, was introduced by the following legislators: Congressman Dave Obey (D-WI), Congressman John Murtha (D-PA), Congressman John Larson (D-CT), Congressman Barney Frank (D-MA), Congresswoman Anna Eshoo (D-CA), Congressman Sam Farr (D-CA), Congressman Raul Grijalva (DAZ),Congresswoman Betty McCollum (D-MN), Congressman Jim McDermott (D-WA), and Congressman Jim McGovern (D-MA).
In order to justify pushing more families into poverty, the esteemed Democrat members of Congress offered this logic:
“For the last year, as we’ve struggled to pass healthcare reform, we’ve been told that we have to pay for the bill – and the cost over the next decade will be about a trillion dollars. Now the President is being asked to consider an enlarged counterinsurgency effort in Afghanistan, which proponents tell us will take
at least a decade and would also cost about a trillion dollars. But unlike the healthcare bill, that would not be paid for. We believe that’s wrong,” said Obey, Murtha and Larson. “Regardless of whether one favors the war or not, if it is to be fought, it ought to be paid for.”
The problem with this statement is that the Health Care Reform Act now before the Senate includes multiple taxes. According to the Tax Foundation in the Senate Plan there are five significant areas of taxation as of October 30, 2009. A rise in the corporate income tax, an excise tax on “Cadillac Insurance Plans”, Pay or Play provisions for employers, Penalties for those who do not carry insurance, and a Tax on Medical Devices, and Other Health Care Items.
Added to the burden on the middle class is the demise of the tax cuts enacted in 2003 under President Bush. in 2011, individuals in 39 of the 50 United States will be at a 50% tax rate. The end of a tax cut, is a tax increase
Welcome to Massachuetts - Federal and Commonwealth Taxes Unending - photo fliker
Frank, Chairman of the House Finance Committee, and McGovern (D-MA), should be familiar with the concept of “Taxation Gone Wild”; the Commonwealth of Massachusetts is constantly in the red due to the myriad entitlement programs, specifically Commonwealth Care, and the inability of the Massachusetts D.O.R. to collect enough taxes in order to meet budget demands. Apparently, Massachusetts lacks enough corporate and individual taxpayers in order to foot the bill; the Massachusetts Legislature in collusion with Governor Deval Patrick, implemented an additional round of taxes on the dwindling tax base last July, with the end result of a continued decline in D.O.R. income.
One gets the impression that those members of Congress and the Senate currently involved in areas of finance should take basic Accounting Courses, or refresher courses. It is glaringly apparent to those who are still fortunate enough to be employed, that adding additional taxes, takes away from the little discretionary income currently available. Whether one is lower, middle or upper income, the proposed new round of Federal Taxes, will take what is left of discretionary income away; this will significantly affect the retail, hotel and restaurant and travel industry, causing further unemployment. Should double digit inflation rear its ugly head in the not too distant future, (and economic indicators would have the U.S. on the brink) one can add food and housing to that list.
Although, the AFP (French Press) believes that the Act is “merely symbolic” and is “seen as having to chance of passage”, given the tax, and spend with abandon policy of the Obama Administration and his Congress, one cannot be overly confident that this particular Amendment, or a similar version, will not become law. Deval Patrick (Barack Obama’s Mini-Me) and his Massachusetts Legislators, have consistently defied the cries of the Commonwealth citizenry; those opposed to a specific tax, will find it return under another name, most likely accompanied by additional tax measure. Given Frank’s history of fiscal irresponsibility, and his stamp of approval on this particular Act, it is most likely a given and should he be re-elected in 2010, his brand of accounting will continue. To be fair, Frank did not author this Act, Murtha (D-PA) is responsible, but Frank’s position as Chairman of the House Finance Committee puts a “stamp of approval” on the “Share the Sacrifice Act”.
One can only hope that a new Congress and Senate in 2010 would author a “Give Back the Hard Earned Taxes to the People Act” – It is that the current administration and congress have created a similar atmosphere to that of 1773 : taxation without true representation has become the norm. Fortunately for Congressman Frank and Company the practice of Tar and Feathers has been lost to history, but the ability to vote has not.