If you are among the millions who live off the earnings of others, go about your business –this update will notaffect you. But if you pay taxes, you’d better pay attention.
Senate Democrats, grappling with President Obama’s $3.6 trillion budget request, have come up a plan. In order to make the numbers work, the Obama tax cuts– which are now supposedly coming to 95 percent of all American taxpayers– will go away.
Senate Budget Committee chairman Kent Conrad and his fellow Democrats plan to wait until after the 2010 elections to kill off your middle-class tax cut. That means the $7 a week Democrats put in your pocket is just too much of a burden to be endured long term. In order for your government to stave off financial ruin, your tax cut can’t stay.
Couples who got $13 a week will obviously face the hardest obstacles. But you’ll be gratified to learn that Democrats aren’t planning to trim any of their huge spending increases,so government welfare programs will continue to grow.
Over in the House, Democrats have announced plans to put socialized health care plans in a “fast track” billthat will prevent Republicans from defeating it once it reaches the Senate. So if Democrats get their way, your tax cuts will be gone, and you’ll get socialized medicinein the same dose. Yeah, it’s big load of…stuff. But, don’t choke on it; we told you it was coming. Swallow it!
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