OBAMA BREAKS “READ MY LIPS” PROMISE at DickMorris.com
OBAMA BREAKS “READ MY LIPS” PROMISE
By Dick Morris And Eileen McGann 06.30.2009
President George H.W. Bush lost the presidency because he broke his 1988 campaign pledge: “read my lips: no new taxes.” Now President Obama is as blatantly poised to disregard his most fundamental campaign promise: “if you make less than $250,000 your taxes will not go up. Not one dime.”
In our new book Catastrophe, we write about the breadth of Obama’s planned tax hikes and the heights to which he will drive taxes. To pay for his health care catastrophe, Obama will likely make all health insurance premiums, paid by employers, taxable to the employees.
So if your income is $50,000 and your employer pays $10,000 in health insurance premiums for you, your taxable income will be $50,000. In effect, this means that most taxpayers will have to pay more than a third of their incomes to the federal government.
New math?
You said, “So if your income is $50,000 and your employer pays $10,000 in health insurance premiums for you, your taxable income will be $50,000″
Didn’t you mean to say “your taxable income will be $60,000″?
Just what I was thinking:
New math?
You said, “So if your income is $50,000 and your employer pays $10,000 in health insurance premiums for you, your taxable income will be $50,000″
Didn’t you mean to say “your taxable income will be $60,000″?