Just what is it Corrine "Delivers" - Updated



We've all seen the signs; every election year they're everywhere you look.
Billboards, yard signs… they all say the same thing: "
Corrine
Delivers
". Have you
ever asked yourself what it is she delivers (beyond being an embarrassment to
the entire First Coast and all of Florida)?

Here's a partial list of what she's delivered over the past few months:


  • The abomination referred to as "Obamacare" which not only increases the cost of health insurance across the board but is placing significant restrictions and limitations on what our doctors can
    provide
  • A vote for "Cap and Trade" which according to President Obama will increase electric utility rates for everyone by at least 50%
  • Passage of the failed Economic Stimulus plan that has added more than $800 Billion to the National Debt without adding any new jobs
  • Passage of TARP and other bail out plans which have added well over $1.5 Trillion to the National Debt
  • An exponential growth of the National Debt to where it is now more than $13 Trillion (not counting the unfunded mandates which takes the total debt to more than $124 Trillion)
  • Annual pay and benefit increases for herself and other members of congress each year she's been in office and for 2011 (She’s increased her own pay by $4,300 just these past 2 years alone!)
  • Elimination of any increase in Social Security and Veterans Disability payments in 2010 and 2011
  • Increased individual cost for Medicare Parts B and D for 2010 and 2011 (Mandatory premiums have gone up by $285.60 plus there have been increases for co-pays and other hidden costs; yet there’s been no
    offsetting COLA increase)
  • Massive individual income tax increases effective 1 January 2011. For a family of 4 the increase in their annual taxes will be:

o If income is $20K -
$1,750 8.8% of gross income


o If income is $30K - $2,6 70
8.9% of gross
income


o If income is $40K -
$2,273 5.7% of gross income


o If income is $50K -
$2,103 4.2% of gross income


o If income is $60K -
$2,143 3.6% of gross income


o If income is $70K -
$2,143 3.1% of gross income


o If income is $80K -
$2,143 2.7% of gross income


oIf income is $90K - $2,208 2.5% of
gross income


oIf income is $100K - $3,508 3.5% of gross income


oIf income is $125K - $4,538 3.6% of gross income


oIf income is $150K - $4,288 2.9% of gross income


That’s just the tip of the scale. Here are just some of the other increases almost all of her constituents and the rest of us will face on January 1, 2011 as a direct result of Corrine’s
representation:
The
First Waive – New “Additional Tax Grab”


Ø Higher taxes on marriage and family:


§ The "marriage penalty" (narrower tax brackets for married couples)
will return from the first dollar of income.


§ The child tax credit will be cut in half from $1000 to $500 per child.


§ The standard deduction will no longer be doubled for married couples relative to the single level.


§ The dependent care and adoption tax credits will be cut.


Ø The return of the Death Tax.


§ This year only, there is no death tax. (It’s a quirk!)


§ For those dying on or after January 1, 2011, there is a 55 percent top death tax rate on estates over $1 million. A
person leaving behind two homes, a business,
a
retirement
account, could
easily pass along a death tax bill to their loved ones. Think of the
farmers who don’t make much money, but their land, which they purchased years
ago with after-tax dollars, is now worth a lot of money. Their children
will have to sell the farm, which may be their livelihood, just to pay the
estate tax if they don’t have the cash sitting around to pay the tax.
Think about your own family’s assets. Maybe your
family owns
real estate, or a business that doesn’t make much money, but the building and
equipment are worth $1 million. Upon their death, you can inherit the $1
million business tax free, but if they own a home,
stock,
cash worth $500K on top of the $1 million business, then you will owe the
government $275,000 cash! That’s 55% of the value of the assets over $1
million! Do you have that kind of cash sitting around waiting to pay the
estate tax? Past history shows that
this onerous tax will force families to sell their business or farm just to pay
the taxes


Ø Higher tax rates on savers and investors:


§ The capital gains tax will rise from 15 percent this year to 20 percent in 2011.


§ The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. (These rates
will rise another 3.8 percent in 2013)


Second Wave: - “Obamacare”


Ø There are over twenty new or higher taxes in Obamacare. Several will first go
into effect on
January
1, 2011. They include:


§ The "Medicine Cabinet Tax"


§ Elimination of the Health Savings Account (HSA). The HSA is/was the best possible self managed healthcare program to come out of
Washington


§ A cap on Flexible Spending Accounts (FSA) of $2,500 (currently there is no cap) The FSA allows individuals to set aside pre-tax
dollars to purchase non-prescription,
over-the-counter
medicines (except insulin) and other expenses such as day care, parental care,
etc.. Money put in this account must be spent during the calendar year or it is
forfeited to the Federal Government.


Ø The "Special Needs Kids Tax" (Talk about targeting those with the
greatest needs)


o The new cap on Flexible Spending Accounts (FSAs) of $2500 will significantly impact parents of “Special Needs” children as it is
cruel and onerous in that parents can no longer use pre-tax dollars to pay for
special needs education, after school care, that includes physical,
occupational and speech therapy these children desperately need. Additionally, as a result of this cap
Co-Pays and Deductibles can no longer be paid with pre-tax dollars budgeted and
paid through FSAs. Tuition rates at one leading school that teaches special
needs children
in
Washington, D.C. (National Child Research Center) can easily exceed $14,000 per
year.
Under these new tax rules, FSA
dollars cannot be used to pay for this type of special
needs
education. (Think about it, in just the past 20 years children with Autism have
increased by
more
than 600%
!! And this is only one category of “Special
Needs” children that are adversely effected by this legislation)


Ø The HSA (Health Savings Account) Withdrawal Tax Hike.


§ This provision of Obamacare increases the additional
tax
on non-medical early withdrawals from
an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other
tax-advantaged accounts, which remain at 10 percent. (This means not only can you no longer use your HSA to pay for non-prescription drugs and supplies but if you do, the amount will be charged as income and you will have to pay an additional 20% over-and-above the income tax! This is particularly onerous for those who are required to to take non-prescription medications for chronic diseases.)



The Third Wave (the worst is yet to come):


Ø The Alternative Minimum Tax (AMT) and Employer Tax Hikes. When Americans prepare to file their
tax returns in January of 2011,
they'll be in for a nasty surprise-the AMT won't
be
held
harmless, and many tax relief provisions will have expired. The major items
include:


§ The AMT will ensnare over 28 million families, up from 4 million last year, an increase of more than 700%. According to the left-leaning Tax
Policy Center, Congress' failure to index the AMT will lead to
an
explosion of AMT taxpaying families-rising
from 4 million last year to 28.5 million.
These families will have to calculate their
tax burdens twice, and pay taxes at
the higher level. The AMT was
created in 1969 to ensnare a handful of taxpayers.


Ø Taxes will be raised on all types of businesses and individuals. There are literally scores of tax hikes on
business and individuals that will take
place.


ü Small business expensing will be slashed and 50% expensing will disappear. Small businesses can normally expense
(rather than slowly-deduct, or
"depreciate") equipment purchases up to $250,000.
This
will
be cut all the way down
to just $25,000 - that's a 90% reduction. Larger businesses can currently expense
half of their purchases of equipment.
In January
of 2011,
all
of it will have to be "depreciated."


ü The biggest new tax is the loss of the "Research and Development/Experimentation” tax credit.”.


ü There are many, many others, to many to list as they are specific to industry, type of business classification (“C”, “S”, “LLC”, etc.).
Combining high marginal tax
rates with the
loss of this tax relief
will cost jobs.


ü Tax Benefits for Education and Teaching Reduced.


ü The deduction for tuition and fees will not be available. Tax credits for education will be limited


ü Teachers will no longer be able to deduct classroom expenses.


ü Coverdell Education Savings Accounts will be cut.


ü Employer-provided educational assistance is curtailed.


ü The student loan interest deduction will be disallowed for hundreds of thousands of families.


ü Charitable Contributions from IRAs no longer allowed. Under current law, a retired person with an IRA can contribute up to $100,000
per year directly to a charity from their IRA.
This
contribution
also counts toward an annual "required minimum
distribution."
This ability will no longer be there and will severely impact
philanthropically donations to those charitable institutions that depend on
them.



Ø And the single worst impact from “Obamacare”: employer provided insurance will be included as INCOME on your W2's!


§ One of the surprises we'll find come next year, is what follows - - a little "surprise" that 99% of us
had no
idea was included in the "new
and improved" healthcare legislation.


§ Starting in 2011, our W-2 tax forms sent by your employer will be increased to show the value of
whatever
health
insurance you are given by the company. This benefit now becomes taxable income!


§ If you're retired? So what... your gross will go up by the amount of insurance you get from your previous employer or union
(except the Teacher Unions!).


§ We will be required to pay taxes on a large sum of money that is never seen. To appreciate the impact of this provision take
your tax form from last year and add another $10,000 (or much more) to your
gross income. Then recalculate your tax bill. That's what you'll pay in
2011!


§ For many, this addition to gross income will place them into a higher bracket making the impact even worse as the amount of tax due will be calculated at the higher rate.


§ This is how the government is going to buy insurance for the15% that doesn’t have insurance and its only part of the tax
increases
.


All of these little gems are included in “Obamacare”. Frankly I’m not sure how any of this was included in what was billed as a “Health Care” bill that was
going to lower medical costs; especially the changes and new taxes on education
and the virtual takeover of the collage loan industry. But it is part of what
we were told had to be approved “so we could see what was included”! And
Corrine voted for it without ever reading the bill! Just one more example of great representation for her
constituents and what she really “Delivers”.

So
what is it Corrine is delivering and who is she really delivering it for?


Ø Increased Debt


Ø Increased Taxes


Ø Increased Federal Domination of our Personal Liberty


Ø Increased Cost of Medicaid and Medicare and a giant new cost to the State (which means the State will have to cut costs elsewhere to cover this new mandated burden

Ø Increased Personal Income Taxes for taxpayer across the board

Ø Increased Personal Pay and Benefits for herself and other members of Congress



It appears to me she’s delivering for the Democratic Party, Unions and Herself and screwing the rest of us!!



It’s
time those in her district knew the truth and voted her out of office!

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