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Happy New Year Middle Class: The Fiscal Cliff Is Going To Rip You To Shreds

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  • e_bittencourt
    See at http://theeconomiccollapseblog.com/archives/happy-new-year-middle-class-the-fiscal-cliff-is-going-to-rip-you-to-shreds Exerpt The middle class has
    Message 1 of 1 , Dec 31, 2012
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      See at

      http://theeconomiccollapseblog.com/archives/happy-new-year-middle-class-the-fiscal-cliff-is-going-to-rip-you-to-shreds

      Exerpt

      The middle class has quite a gift welcoming them as the calendar flips over to 2013. Their payroll taxes are going to go up, their income taxes are going to go up, and approximately 28 million households are going to be hit with a huge, unexpected AMT tax bill on their 2012 earnings. So happy New Year middle class! You are about to be ripped to shreds. In addition to the tax increases that I just mentioned, approximately two million unemployed Americans will instantly lose their extended unemployment benefits when 2013 begins, and new Obamacare tax hikes which will cost American taxpayers about a trillion dollars over the next decade will start to go into effect. If Congress is not able to come to some sort of a deal, all middle class families in America will be sending thousands more dollars to Uncle Sam next year than they were previously. And considering the fact that the middle class is already steadily shrinking and that the U.S. economy is already in an advanced state of decline, that is not good news. You would think that both major political parties would want to do something to keep the middle class from being hit with this kind of tax sledgehammer. Unfortunately, at this point it appears that our "leaders" in Washington D.C. are incapable of getting anything done. So get ready for much smaller paychecks and much larger tax bills. What is coming is not going to be pleasant."

      Exerpt 2

      Overall, the global elite have approximately 18 trillion dollars parked in offshore tax havens such as the Cayman Islands.

      Keep in mind that U.S. GDP for 2011 was only slightly above 15 trillion dollars.

      So the global elite have an amount of money parked in offshore banks that is substantially larger than the total value of all goods and services produced in the United States each year.

      According to one estimate, a third of all the wealth in the entire world is stationed in offshore banks. Our politicians are playing checkers and the global elite are playing chess when it comes to taxes. Our current system of taxation is irreversibly broken and should be entirely thrown out and replaced with something else.



      Edison

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