Saturday, March 7, 2009

THE INHERITANCE TAX

Former President George Bush "left" President BO a trillion dollars of budget deficit, or so says President BO.

The point has been made more than once that while the Bush administration took 8 years to accumulate that trillion dollars of deficit, it took President BO less than 40 days to raise that deficit by 3 trillion dollars, and climbing.

On this, the 46th day of President BOs War on Achievement, isn't it time to cry out, "Enough!!"

I guess not.

His disciples just fall in lock-step with any and every plan he puts forth, no matter what history teaches about the consequences of such action, no matter what negative good it is doing today, and no matter how much it will cost us in the future.

Let's not confuse the budget deficit with the national debt. They are two very different things.

The budget deficit is the amount of money we don't have, to pay for what we want to do.

The national debt is what we owe countries (and some say, people) who have loaned money to the United States. It currently stands at about $10,956,960,271,033.66, or about $35,834.29 per citizen of the U.S.

Because taxes don't bring in enough revenue to pay for everything in the budget, we are now borrowing money from places like China.

The larger the budget deficit, the more we have to borrow, running the national debt even higher.

Try to imagine how much the national debt jumped when we had to borrow enough money to pay for an extra three trillion dollars in budget deficits.

Who will pay that back?

You will.

I will.

Your and my children will.

Your and my grandchildren will.

Your and my great-grandchildren will.

That is if we don't borrow another penney.

But we will.

This is the "inheritance" President BO has already planned to leave for us.

Talk about an inheritance tax.

Even with the extending of the abolition of the so-called "death-tax," we will be leaving our progeny a terrible legacy.

And 54% of you Americans voted for that.

Thanks a lot.

7 comments:

Z said...

I'm thinking there's going to be a huge revolt when the middle class who were told NO NEW TAXES find out that's true, EXCEPT they NO NEW DEDUCTIONS (OR OLD), either>>

That's going to make people REAL unhappy.

Meanwhile, back at the WH, the Obamas are hosting cocktail parties with rock stars.......sort of Marie Antoinette style, eh?

Joe said...

Z: Yeah, only President BO's motto is: "Let them eat tripe!"

Tapline said...

I want my country back!!!Lets get the whole crooked bunch out and get someone who works for us there doing the people's business....We better be watching the happenings overseas also. Everything seems to be happening and not being reported. I think we should have a Fairness Doctrine to include all media, that's radio, TV and newspapers....This nation cannot effectively monitor whats happening in the Nation if only one or two are reporting exactly whats happening and not leaving out half nor inserting editorials with daily news reports....

Joe said...

Tapline: I've been reading your posts, and you really do get it.

How on earth do we persuade more to get it, too?

Jennifer said...

Just curious, have you heard anyone actually defending the stimulus? I have heard a ton of people criticizing it, democrat and republican, but I have noticed a lack of support for it. Maybe this isn't as popular as Obama thinks, and that is EXACTLY what we need as conservatives.

The inheritance tax really bugs me. The only way I can think to get around this is if you know someone is very ill changing the house, or car, or bank accounts into a different name. Is this even legal??

Lone Ranger said...

Those who forget the past are doomed to repeat it. Those who ignore the past are called liberals.

selahV said...

every day Obama makes me feel better and better about my no-vote for him. I didn't want him and I didn't want his change. Americans caught up in the 2008 Oba-mania will not forever be deafened by the crowds shouting "Yes, we can!"

Some are already waking up. This man is doing exactly what he said he was going to do. He has set his course and he will not be moved. His countenance is beginning to show his disbelief in himself. He's discovering that he is not Abe Lincoln reincarnate. He's gonna be a one-termer...if we survive another 3 years and 10 months. selahV