You know that cash you have in your pocket and in your bank account?
Maybe a little extra in there to spend on a hobby -- like, say, owning a motorcycle?
Well, you are not going to have as much of it next year.
And, it will be harder for you to keep your job or find another one.
"Why is that? " you might ask.
Here's why: The government is going to take much more money away from all tax paying Americans, and spend it the way they see fit instead of the way you do. We're talking trillions of dollars here.
Read on, from the Heritage Foundation:
On January 1st, American taxpayers will experience the largest tax increase in U.S. history. As the ball drops on the New Year, we will experience an immediate $500 billion tax hike and the Mainstream Media is doing everything it can to avoid covering this fact.
For those Americans struggling to find a job, this massive tax increase will not make it any easier. Sadly, Liberals in Washington and political commentators are already salivating over the idea of additional taxes. They cannot stand the idea of a federal government that lives within its means.
The coming tax increases will be devastating. Every American that pays taxes will see their rate go up. The small business tax rate will grow to nearly 40 percent. The alternative minimum tax [AMT] will grow from 4 million to 31 million victims. The death tax will take half of what many Americans leave behind when they die. The capital gains rate will rise from 15 to 24 percent, and the top dividend rate will rise from 15 to 45 percent. The marriage penalty will return, and the child tax credit will be cut in half. Obamacare will impose 20 new or higher taxes on families and small employers, including a new tax on medical devices like braces and pacemakers.
As you approach election season, it is vitally important that you ask candidates and elected officials about the coming Taxmageddon: do they support raising taxes on millions of Americans or will they fight for lower taxes and less government spending?
You have the right to know where your elected officials and candidates for office stand on important issues. One of the best ways to know where a candidate stands on taxes is the Taxpayer Protection Pledge. Currently, 238 members of the U.S. House of Representatives and 41 U.S. Senators have taken the Pledge, which is a written commitment to oppose net tax hikes. In addition, there are over 247 candidates running for Congress that have made that same commitment.
Click here to see if your candidate or elected official has signed the Taxpayer Protection Pledge.
[Our illustrious South Carolina Senator Lindsey Graham is now reneging on that pledge]President Obama has promised to let the 2001 and 2003 tax cuts expire. If this happens, the only way to immediately reverse Taxmageddon in 2013 is to elect officials who promise to oppose higher taxes. Candidates who sign the Taxpayer Protection Pledge have made that promise to taxpayers.
Elected officials will only focus on reining in Washington’s irresponsible spending binge when tax hikes are taken off the table. The first step in that process is making sure they promise to hold the line on taxes.
Americans for Tax Reform
The Great Depression in the 1930s and early 1940s was deepened and extended by increases in taxation. We are about to repeat that mistake. Nothing is "free." Every dollar government spends comes from the pocket of a taxpayer, and prevents the use of that money in the private sector to promote growth and thereby create jobs.
Recall that about half(!) of the people in the United States pay no income taxes. They, and select companies favored by the government, are the ones getting your hard-earned money.
Oh. I almost forgot. Government-administered health insurance -- sometimes referred to as "free" health insurance by those who wish to deceive -- will become much more costly to you or your employer, and even if you don't want to buy it or don't need it, you will soon pay a penalty of more than $2000 a year.
Get ready to be poorer...or vote the liberal bums out of office in November who tax us and spend our hard-earned money recklessly.
If we get rid of these spendthrift politicians, we will be free to spend our money the way we want to -- and continue to enjoy riding that bike if we choose to!