Obama’s Hidden Big Tax Hikes for the Little Guy
Posted By John Moore on February 28, 2009
You don’t earn in the top 2% of the population, so Obama’s going to give you a tax cut. Right?
So why worry?
WRONG!
We’ve already found two of his proposals that hit directly at everyone, especially those who can afford it the least.
The first is the Carbon Cap and Trade rules. Sounds obscure, but it will raise the price of everything while benefiting only speculators. It is a.. are you ready… $645 BILLION dollar tax hike- the largest in history! Right on, Obama! Power to the people… oops!
Then there’s the huge increase in spectrum fees. Even more obscure. Spectrum fees are what you cell phone company pays the government, and Obama plans to raise them by 1100 percent!
Take that, little guy.
Are you starting to get the picture? All hat, no cattle, in Obama’s “I’m for the little guy” talk.
And there’s more….
The budget imposes a number of new taxes and fees on oil and gas companies to help offset the increased spending elsewhere. For example, an excise tax to be imposed on oil and gas companies operating in the Gulf of Mexico would raise more than $2.2 billion. The tax is targeted at companies that do not pay royalties on oil and gas operations due to what’s believed to be an oversight in their contracts. The tax is delayed until 2011, “after the economy has had time to recover,” according to the budget document.
The budget also charges user fees and increases royalties on oil and gas companies operating on federal lands.
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