If you believe the tax increases won’t effect your finances next year – think again. If there were ever a time to seek Financial Solutions to the runaway system of taxation – now is the time. Are there steps that you can take to reduce the burden of next years increased tax rates? Contact The Ice Blog to find out.
Major Individual Income Tax Benefits Expiring 12/31/2011:
• Personal tax credits applied against income tax no longer apply
• Higher alternative minimum tax exemptions revert back to extraordinarily-low thresholds
• $250 school teacher expense deduction ends
• Mortgage insurance premium deduction expires
• State and local sales tax deductions expire
• Tuition and related fees deduction end
• IRA to charity tax-free transfers stop
• 2% Social Security tax reduction ends
Major Individual Income Tax Benefits Expiring 12/31/2012:
• Marriage penalty equalization ends
• Dividends taxed at capital gains rates removed, taxed at regular rates now
• Capital gains low tax rates expires
• Removal of itemized deduction phase out for higher income Americans
• Removal of personal exemption phase out for higher income Americans
• Child care deduction limit of $3,000 reverts to $2,400
• Child credit reduces from $1,000 per child to $500 per child
• Low 10% tax bracket for low income Americans is eliminated
• Lower income tax rates and smaller brackets expires
• Refundable adoption credit and reduced deduction
• American Opportunity college education credit expires
• Major reduction in earned income credits and refunds
• Income tax exemption for debt forgiven on home foreclosures and repossessions
• Deduction for student loan interest ends
• Education IRA limit drops from $2,000 to $500
Vote Ron Paul and put an end to the IRS strangle hold on your freedom and finances.
Obama’s guarantee that Americans would still be able to keep the same health care plan is already proving fraudulent as businesses, insurance companies and medical device manufacturers jack up prices.
It isn’t about providing health care… it never was.
The idea that the Obamacare bill is business friendly is another myth that is washed away like sandcastles on a beach within five minutes of reading around the peripheries of the legislation. Just as the idea that a trillion dollar health bill could in any way cut the national deficit, the notion that American businesses will be in any way shape or form better off as a result of the mandates placed on them under this so called “reform” is patently absurd.
by The Ludwig von Mises Institute
The Ludwig von Mises Institute
Thomas Jefferson and Andrew Jackson understood “The Monster”. But to most Americans today, Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound money and banking that could end the statism, inflation, and business cycles that the Fed generates.
Dedicated to Murray N. Rothbard, steeped in American history and Austrian economics, and featuring Ron Paul, Joseph Salemo, Hans Hoppe and Lew Rockwell, this estraordinary film is the clearest, most compelling explanation ever offered of the Fed and why curbing it must be our first priority.
Alan Greenspan is not, we’re told, happy about this 42 minute blockbuster. Watch it and you’ll understand why. This is economics and history as they are meant to be: fascinating, informative, and motivating. This movie could change America.
You can order the “Money, Banking and The Federal Reserve on DVD at Mises.org
September 17, 2009
Dear Friend of Liberty:
One day, you hear a loud knock on your front door.
But it’s not a neighbor visiting or someone trying to sell you a subscription.
Instead, it’s a federal agent — the federal government’s newest threat to your liberty demanding to check your household appliances . . . your light bulbs . . . your thermostat . . . and this is NO JOKE.
Believe me, I wish it was.
But should the so-called Cap and Trade Bill (which should be called Cap and Tax) pass, what I just described could be EXACTLY what you and I see in home after home, town after town all across our country — along with skyrocketing taxes, home electric bills and heating prices.
That’s why it’s vital you sign the petition linked at the end of this letter to your U.S. Senators, insisting they vote against this dangerous power grab IMMEDIATELY.
You see, if passed, Cap and Tax would give the federal government UNPRECEDENTED control over the private sector — and our very lives.
Big Government bureaucrats in Washington would effectively be able to tax businesses for emitting more carbon dioxide than they think is “appropriate.”
Just as bad, they’ll be able to demand you change your way of living — forcing you to “retrofit” your house with “government-approved” light-bulbs, refrigerators, water heaters, toilets, air conditioners, and whatever else they can dream up.
And don’t think for a second they won’t send around federal jackboots to make sure you’re complying.
In fact, the Cap and Tax Bill SPECIFICALLY AUTHORIZES just such intrusive home visits by government snoops, empowered to sniff around your basement, climb into your attic and search your closets.
And that’s not all.
You see, Cap and Tax is just another excuse for Big Government to reach their greedy little hands deep into our wallets.
If passed, Cap and Tax would:
*** Increase taxes by $650 BILLION, virtually guaranteeing that our economy gets even worse and NEVER recovers;
*** Result in over ONE MILLION lost American jobs per year as energy-intensive industries are forced to shut their doors or move overseas;
*** Allow Big Government politicians to decide which businesses get taxpayer subsidies and which ones are shut down, virtually guaranteeing massive corruption on a scale we’ve never seen before in the United States.
And don’t believe the lies. This bill has nothing to do with the environment.
In fact, the best experts agree Cap and Tax will have almost zero impact on the environment anyway — except, of course, for lost jobs, higher taxes, and blighted small towns and rural communities.
So what is Cap and Tax really about?
Raw government POWER.
Government POWER to tax.
Government POWER to enter your home to “check for compliance.”
And government POWER to control the economy, our lives and our freedom.
Just take a look at Spain — the Cap and Taxers’ “shining” example of an eco-socialist paradise.
There, unemployment is approaching 20% and rising.
And what about all those new “green” jobs Cap and Tax apologists are claiming will be generated?
In Spain, for every new “green” job created (at a taxpayer cost of $800,000 EACH mind you), 2.2 economically-productive jobs are destroyed!
The fact is, passage of Cap and Tax could send our economy nose-diving off a cliff!
So it’s never been more important that you act TODAY.
The good news is, Campaign for Liberty has a plan to fight back.
But, I’m afraid, unless you act IMMEDIATELY, Cap and Tax will become law.
I won’t mince words. Our backs are against the wall. Already, Big Government politicians on both sides of the aisle have rammed this bill through the U.S. House.
And President Barack Obama would love nothing more than to flash a grin for his pals in the national media as he signs Cap and Tax into law.
So that means our ONE CHANCE to stop this radical bill is the U.S. Senate.
And there, our job isn’t easy. Just like in the House, there are pro-Cap and Tax Senators in both parties.
But there is good news.
There are also a lot of VERY nervous Senators in both parties. In fact, even John McCain is now wavering from his past support for Cap and Tax.
These Senators are nervous because they know that freedom-loving folks like you are catching on to what is happening and are fighting back against their schemes to take over health care and are unified in our fight to reign in the out-of-control Fed.
They’re nervous because we’ve come a long way in stopping their assaults on our liberty.
So now, in this latest fight, many Senators are riding the fence.
They’re afraid of what YOU’LL do to them if they vote to ram Cap and Tax into law.
So today, our job is to KNOCK those Senators off the fence and squarely onto our side by sending this one very LOUD and very CLEAR message to the U.S. Senate . . .
. . . Any politician who votes FOR Cap and Tax should look for another job.
Here’s how Campaign for Liberty plans to do that — hopefully, with your help.
First, we’re already busy contacting up to five million activists nationwide through mail, phones and email to generate petitions to the U.S. Congress demanding U.S. Senators vote AGAINST Cap and Tax.
And that’s just the beginning.
With your help, we’ll work the blogs and write guest editorials.
We’ll brief influential writers and columnists who will be sympathetic to our efforts.
We’ll work the talk radio stations and grant local media interviews to further turn up the pressure on Congress.
And a few days before the vote, if we have the resources, we’d also like to run hard-hitting targeted radio, TV and newspaper ads calling on Senators to vote against Cap and Tax.
Now, none of this is going to be easy — or cheap.
But, with your help, I’m confident we can turn up so much grassroots pressure on our U.S. Senators, they’ll find out what REAL heat feels like!
So, in addition to your signed petition, I also hope you’ll agree to make a contribution of $250, $100 or $50 — to Campaign for Liberty.
I know times are hard, but this fight is absolutely critical.
If you and I don’t fight back . . . well, I shudder to think about what could happen.
But I’m sure you’ll agree, the America you and I treasure could end up looking much, much different in just a few years.
So can I count on you to join the fight to STOP Cap and Tax by signing your petition, and by making a generous contribution of $50, $100 or $250 — or whatever you can afford — to Campaign for Liberty?
P.S. H.R. 2454, the Cap and Tax Bill, has already been rammed through the U.S. House and our ONE CHANCE is to stop the bill in the Senate.
If passed, the Cap and Tax Bill could send the entire U.S. economy nose-diving off a cliff, and you and I will be handing unprecedented control of our lives to the federal government.
Ron Paul on Coast to Coast AM with George Noory
Bob Basso author of “Common Sense” plays the role of Thomas Paine to ignite the fire of change in America. Patriotism and Pride for America lead Thomas Paine to help take back America!
The provision giving judges the power to reduce mortgage principals and interest rates for homeowners in bankruptcy may be stripped from H.R. 1106 by the Senate. The provision, referred to as “cramdown”, would not give more taxpayer money to the banks. Instead, the Banksters may be offered “incentive payments” for “voluntarily” lowering interest rates.
So far, all the foreclosure prevention plans that rely on voluntary participation from the banks have failed. If cramdown is removed from the current bill, we will be left with another voluntary plan plus some cash bonuses for banks. Homeowners who owe much more than the current value of their house will still not be helped.
Open your eyes America… Wake Up!! Robert Welch predicted what would happen and gave the same solution that many are giving today, including Ron Paul.
Thanks to Phil for the heads up on this video.