Obama National Health Care Plan – More Taxes / Less Medicare Funding
http://online.wsj.com/article/SB123559630127675581.html
Following through on his campaign promise of raising taxes on the "wealthy", the Obama Administration will be rolling out their $318 BILLION tax hike including expiration of the Bush tax cuts and an increase in personal tax rates from 33% to 35% over the next few years. In addition, a scale-back of home mortgage interest and contribution deductions are also anticipated under President Obama's proposal. Not-for-Profit entities are suffering from the economy just like taxable businesses; therefore, this is an odd time to reduce the tax benefit for home mortgage deductions and reducing the incentive to support charitable organizations, which are typically very efficient in their operations.
Another $316 BILLION of spending cuts tied to: i) reductions in government payments to private health-care providers supplying Medicare services and ii) other healthcare reductions are also planned.
These combined tax increases and spending cuts of $634 BILLION are designed to pay for President Obama's planned Single-Pay Medical Plan.
Download Obama Tax Hikes Feb 26 2009 WSJ
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The Fall of California
Dennis Prager insightfully summarizes the steady decline of the California economy and identifies the architects of its demise.
Download California Destroyed by Left – Dennis Prager
Download CA Tax Rates article 12.2007
Tags: 2009 tax changes, California budget, California Taxes, Obama Stimulus, Obama Taxes, Tax Increases