Home > Deficit, Doom, Obama, Taxes, VAT > Are You Overtaxed?

Are You Overtaxed?

New Rasmussen poll says that 66% of Americans think they are overtaxed, with 33% disagree.

Eighty-one percent (81%) of Mainstream American voters believe the nation is overtaxed, while 74% of those in the Political Class disagree

Really? Who would have thunk it?

Eighty-one percent (81%) of Republicans believe the nation is overtaxed. So do 73% of voters not affiliated with either major party. Democrats are evenly divided on the question.

And finally, those evil  Tea Party types.

Among those who consider themselves part of the Tea Party movement, 96% believe the nation is overtaxed, and only one percent (1%) disagree.

Is this mind blowing news?

But it does explain why Obama’s number are going down fast.

Currently, only eight percent (8%) believe their taxes will be cut during the Obama presidency, while 46% expect a tax hike.

I disagree, I don’ think Obama will try to raise taxes anymore than he has already, this term. He can’t. He doesn’t have the political capital and after November, he won’t have enough votes in Congress.

He’ll have to wait till 2012. I think Obama will try to run on a platform of “fiscal honesty,” which is Orwellian speak for, “He spent a lot of money, and now is trying to say he can save us from the fiscal crisis.” There will of course be no mention of how much money Obama added to the deficit. Instead they will run against W., again.

The 96% of Tea Partiers won’t buy it, Republican won’t buy it, only Democrat will buy it. And only 50% of the Democrats are stupid enough to buy it, if the tax numbers above are any indication. But never underestimate Obama’s ability to spin, and Democrats willingness to believe anything they want to hear, regardless if it’s the truth.

It will all come down to three thing; cut Government spending, raise taxed or a combination of both. The Left doesn’t like the first choice. No wonder since they think we aren’t taxed enough already. The Right doesn’t like the second choice, they think we are taxed too much already. That only leave the third option. Remember taxes have to go up almost 40% to just reduce the deficit.

My biggest fear is that Congress in the future (after 2012), will institute a VAT tax and a Carbon Tax (even though I think by then AGW will be debunked, they’ll pass it because they need the revenue) in conjunction with a steep tax rate hike to the current income tax. Essentially, we will be paying over 50% of our income to the Federal Government, now add in the increase in State and Local taxes to pay for the bankrupt states.

If we have to have a VAT, I’d much rather it be with a complete elimination of the income tax. Even better, I’d rather see a Flat Tax at even 30% (which would make us one of the highest taxed countries with a Flat Tax). But that’s just wishful thinking. Knowing Congress and our POTUS, even if we gave 60% of our income to Government, it wouldn’t be enough. They are Leviathan, they are never satiated.

How much tax are you willing to pay before you go Tea? I’m already Tea, count me as one that thinks they pay too much already.

Categories: Deficit, Doom, Obama, Taxes, VAT
  1. yttik
    April 11, 2010 at 12:03

    “Essentially, we will be paying over 50% of our income…”

    I already am if you include state taxes, fed taxes, and fees, sales tax, soc sec, medi, business and occupations, license and registrations, property taxes, car tabs, sin taxes, gas tax. We sat down and figured it out a couple of years ago, it already amounts to half our income.

    The problem is, the gov isn’t leaving people enough to live off of. As it becomes more difficult to cover the basic necessities with your remaining 50%, people get resentful.

    • April 11, 2010 at 14:54

      And they wonder why the economy is still in the shitter. It’s as though this was all just a set up.

  2. kenoshamarge
    April 13, 2010 at 05:55

    The problem is that only 53% of the people pay any federal taxes at all! The rest not only don’t pay, they get refund check from Uncle Sugar that is for more than they paid in. Nice work if you can get it!

    That leaves the rest to pay for all the goodies that are being handed out by Uncle Sugar as vote-getters.

    I don’t think that Obama will up the taxes openly until after/if he wins a second term. I think all the talk of VATS and the like are trial balloons to see how best to sell it. IMO it will take more talk than even the blabber-mouth in the White House is capable of, and Lord knows he will talk us half to death about it, to sell this lemon.

    Funny thing is, even many of those that pay NO federal taxes are against higher taxes that fund the very handouts they believe are their right to receive.

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