{"id":312,"date":"2010-10-10T12:08:11","date_gmt":"2010-10-10T16:08:11","guid":{"rendered":"http:\/\/mikemartinezonline.com\/blog\/2010\/10\/10\/the-destruction-of-the-middle-class-is-almost-at-hand\/"},"modified":"2010-10-10T12:08:11","modified_gmt":"2010-10-10T16:08:11","slug":"the-destruction-of-the-middle-class-is-almost-at-hand","status":"publish","type":"post","link":"https:\/\/mikemartinezonline.com\/blog\/2010\/10\/10\/the-destruction-of-the-middle-class-is-almost-at-hand\/","title":{"rendered":"The destruction of the middle class is almost at hand"},"content":{"rendered":"

Folks. I have commented on this before and will again. I believe our current administration and politicians have been setting out to destroy our middle class and turn our country into a communist regime \u2013 one where there are only two classes; the elite party members and ultra powerful rich and the rest; the peons.<\/strong><\/p>\n

If you want to know where you stand ask yourself, \u201cam I a member of congress?, am I a billionaire, am I one who runs a massive media outlet?\u201d if the answer is NO then you are one of the soon to be \u2018former\u2019 middle class Americans. We have people who have been working their way to power positions of power in our great country with the sole goal of creating themselves a place of inscrutable power over every aspect of our lives.<\/strong><\/p>\n

I know I am often called an alarmist right-wing guy. Well I am. I believe in the founding Judeo-Christian concepts our country was founded on. Concepts that provided for an advancement of human kind the world has never known! As mentioned in the opening statement that founded this country; <\/strong><\/p>\n

"We hold these truths to be self-evident, that all men are created equal; that they are endowed by their Creator with inherent and inalienable rights; that among these, are life, liberty, and the pursuit of happiness;…."<\/em> Rights by our Creator NOT men!!<\/u><\/font><\/strong><\/p>\n

We have three waves of massive taxes coming soon. They will not affect the super wealthy \u2013 they will always be able to keep their money. They will be just lest incentivized to use it to create jobs and innovations through investments. The new taxes wont affect the super<\/em> poor either, they will just get even more benefits of our system with out contributing.<\/strong><\/p>\n

The coming taxes and regulations are set to destroy our middle class. Here is the lowdown:<\/strong><\/p>\n

In  just six months, on January 1, 2011, the largest tax hikes in the  history of America will take effect.<\/b><\/strong>
<\/b>
They  will hit families and small businesses in three great  waves.<\/b><\/strong>
<\/b>
On<\/b><\/strong> January  1, 2011, here\u2019<\/b><\/strong>s what happens… (read it to the end, so you see  all three waves)…<\/b><\/strong>
<\/b>
<\/b>First Wave<\/u><\/b><\/strong>:<\/b><\/strong>
<\/b>
Expiration  of 2001 and 2003 Tax Relief<\/b><\/strong>
<\/b>
<\/b>In  2001 and 2003, the GOP Congress enacted several tax cuts  for<\/b><\/strong> investors,  small business owners, and families.   These  will all expire on January 1, 2011.<\/b><\/strong>
<\/b>
<\/b>Personal  income tax rates will rise. <\/b><\/strong>
<\/b>
The  top<\/b><\/strong> income  tax rate will rise from 35 to 39.6 percent (this is also the  rate<\/b><\/strong> at  which two-thirds of small business profits are taxed).   <\/b><\/strong>
<\/b><\/b><\/strong>
<\/b>The<\/b><\/strong> lowest  rate will rise from 10 to 15 percent.   <\/b><\/strong>
<\/b><\/b><\/strong>
<\/b>All  the rates in<\/b><\/strong> between  will also rise.  <\/b><\/strong>
<\/b><\/b><\/strong>
<\/b>Itemized  deductions and personal exemptions<\/b><\/strong> will  again phase out, which has the same mathematical effect as  higher<\/b><\/strong> marginal  tax rates.  <\/b><\/strong>
<\/b>
<\/b>
The  full list of marginal rate hikes is  below:<\/b><\/strong><\/p>\n

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