|Tea For Two|
If a government is large enough to give you everything what you want
it is large enough to take everything you have.
Socialism is a philosophy of failure, the creed of ignorance,
and the gospel of envy, its inherent virtue is the equal sharing of misery.
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Posted by Mr Tea Tuesday, 2012-November-13
There are few things that will be becoming up here at the new year that are going to effect the way we handle our finances. For instance when selling your home, the federal government is going to tax your capital gains at 3.8%. This is not even include the existing capital gains tax. Furthermore it is the proposal of the Obama administration to raise the capital gains from 15% to 25%. So that 3.8% would come on top of the 25% on any transaction concerning capital gains.
Estate taxes are also going to be taking a large jump, no longer will the first 5 million be exempt. This will be reduced down to $1 million, which of course become an unacceptable burden on small businesses and farms that are passed down from family members to family members. It is conceivable if you inherit the family business or family farm, you may have to sell it just to pay the inheritance tax. Of course with the healthcare situation now, people are not really looking to get into a new business, especially if that business has more than 50 full-time employees.
In 2014 we have another big surprise coming, many people are going to find that they are going to have their hours cut to make them part-time employees or maybe even lose their jobs. What is about to occur is the employer mandate for Obama care will take effect. Some employers, rather than take hours away from their employees may decide just to remove their businesses from the healthcare debacle. This would be much cheaper for a employer because instead of paying for the outrageous price of Obama care they will only be required to pay a $2000 fine. This would leave the employees to go out and either buy their own health care or pay a $2000 a year tax, making themselves eligible for state Medicaid.
But there's always another direction we individuals can go. We can ask our employer to lay us off so that we can collect 99 weeks of unemployment, food stamps, free cell phones and subsidized housing. This also opens us up to the various job training programs that are available for the unemployed. After the 99 weeks there are other revenues that can be collected from the federal government such as welfare, or Social Security disability. These programs are not as hard to get into as they used to be, in fact the government is continually advertising to get more people onto these assistance programs.
See you at the soup line.
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