Toward the final stretch of the 2008 Presidential campaigns, both Republicans and Democrats, both established a benchmark of 250K annual gross income as fair game to progressively tax high-income earners out of existence.  Politicians knew the great majority of the voters earned considerably less so what could the high income earner do but vote knowing the remainder of the electorate viewed them as convenient contributor for income redistribution.

To no surprise the Democrats have been lowering the high-income earners and small business income threshold.  Since Barack Hussein Obama's initial threshold of 250K dollars, the threshold has been reduced to 200K, 150K, and 130K.  So low is it going to go?  If ‘Joe The Plumber’ is going to take a tax beating let’s include ‘Bob The Day Labour’.

Barack Hussein Obama likes to officially state that he only wants to raise taxes on the top 5% of income earners and cut taxes on the remainder 95% of taxpayers (which also includes non-taxpayers).  For some reason, 40% of the taxpayers really do not pay any taxes at all but that is not a very important detail to the politicians and the voting electorate who are on the receiving side of taxes.  I must admit the Democrats did a very good job of promoting class and income warfare between the social economic classes.

I have also noticed a disturbing trend with the independently wealthy affluent individual(s) and their attraction to big government Liberalism even though the Liberal politicians openly state they will target high-income earners to pay more taxes.  Those who have already have accumulated wealth, not that there is anything wrong with wealth, can shelter their wealth in a trust and then draw a small income which is considered poverty by government standards.  In effect, the independently wealthy affluent individual can live on their trust in combination with government redistribution of wealth and benefits intended for the actual disadvantaged individuals.  If the independently wealthy affluent individual needs a luxury item beyond the poverty level, buy it in the name of the trust fund for the affluent’s benefit.  The dependant class and the independently wealthy affluent prosper on the high-income earner’s achievement.  Both sides of the social economic scale are now squeezing the actual high-income taxpayers.

I believe that the high-income earners should put out an extra effort NOW to gain as much income as they can and begin to re-adjust their spending habits to save as much wealth as they can before Barack Hussein Obama’s tax increases on the high income earners becomes effective.  When the high income tax punishment becomes effective, all the high-income earners should sit down & relax, drink beer, smoke cigars, work on their marriage, work part-time and stay under the oppressive tax threshold limit.  I personally live on 50% of my current income.  Let the Federal government deal with the shortcomings of the tax revenue loss.

Even with the current status of the national economy the President elect Barack Hussein Obama and his fellow supporters do not see the lack of Federal funds as a deterrent to further expand Socialistic powers of government.
http://news.yahoo.com/s/nm/20081109/pl_nm/us_usa_politics_stimulus

So what is the Federal government going to do?  Come to our house and drag us to work at 6:00am to insure we work the 70+ hour week and earn the previous tax years earnings?  If Barack Hussein Obama gets his way and creates a Civilian National Security force that is just as powerful as the military, the idea does not seem that far off.  Just march the American polpulation into the rice patties to feed the ‘State’.

To combat the immediate tax revenue slow down the insatiable parasitic tyranny of Federal government has two choices to make.  Either cut government spending, I seriously doubt it, or find further sources of tax revenue.  Most likely the government will continue to lower the tax threshold to encompass more of America’s population to ‘Share The Wealth’ as these people should of never been taken out of the tax base in the first place.  As more people are liable to taxation they will be more responsive to government policy, which affects government spending.  It would not surprise me that our Federal government nationalizes private pensions, trust funds, and 401k accounts as the government of Argentina has done.

What is to stop the Federal government from taxing unrealized income?  Here are two examples, which come to mind:
Example 1) a family owns a 4/2 home.  The family actually lives in 2 bedrooms; the empty 2 bedrooms will be taxed as potential rental income if rented out.
Example 2) a person achieves a Masters in Chemistry but pursues a profession in painting homes.  The government taxes the individual as if they were employed as a Chemist

As I see it, two can play this game.  It is time for high-income earners to actively combat a parasitic Socialist tyranny and financially starve the parasite.  Force this government to include everyone in the tax base.  When everyone is paying taxes quickly see how ‘Conservative’ the voting electorate becomes.

For more articles on Dave’s Worldview

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