Obama Works to Destroy the American Dream

Gary Bauer, Campaign for Working Families, discusses the deception which Obama is trying to pull on the American people

Obama Turning American Dream Into A Nightmare

"These are dire times for the United States of America. Never before in my 30 years in Washington have I seen so much critical legislation that will negatively affect our children and grandchildren’s futures rammed through Congress. The majority of the American people, especially our youth, do not know the ramifications that the Obama “Cap and Tax” energy plan and socialist healthcare system will have on them. I don’t think it is any coincidence that Obama is trying to pass this legislation during the summer, when the American people are least tuned in to Washington politics.

Obama knows his approval numbers are falling. He also knows that he will not likely see such an overwhelmingly Democrat majority in Congress again while he is president. Because of this, the Administration knows this is its best chance to sign into legislation laws that would systematically turn our society into a European-style socialist welfare state. If passed, these laws would be difficult to repeal and would have a harmful impact on the country for years to come. If you think I’m exaggerating, today’s Wall Street Journal editorial highlights what will happen if the Obama Administration has its way. Here are some of the main points.

• How does Obama plan on paying for his socialized medicine? More taxes. The healthcare bill calls for a huge new income surtax. With Obama’s proposals, the top marginal federal tax rate would rise to 47% or 48%, from the current 35%. This would be one of the largest increases in history.
  
  
• The average top combined state-federal marginal tax rate would hit 52%. This rate would be higher than all but three (Denmark, Sweden, Belgium) of the 30 countries measured by the OECD. At least five U.S. states would have higher marginal rates than Sweden.
  
  
• Despite these tax increases, the Democrats will still be $300 billion short of the financing they need. The House bill is able to pay for seven years of spending with nine years of taxes. Andy Laperriere of the ISI Group estimates that in 2019 alone the bill would add $95 billion to the deficit.
  
  
• Despite a 9.5% (and rising) unemployment rate, Democrats want to impose a new eight percentage point payroll tax on employers who don’t provide health insurance for their employees. This is in addition to the current 15% payroll tax, and the new 2.5% “fine” on individuals who refuse to buy health insurance. What this means is that any employer with a payroll of $400,000 dollars or higher will have to pay at least 25% above the salary just to hire someone.
  
  
• Add to this the fact that yesterday Mr. Doug Elmendorf, director of the non-partisan Congressional Budget Office, came out and said Obama’s healthcare “savings” claims are an illusion.

Now even liberals are starting to admit that ObamaCare can’t be paid for by just taxing the “wealthy.” USA Today quotes William Gale of the liberal Brookings Institution as saying, “We cannot do this on the backs of the rich,” and Robert McIntyre of the leftwing Citizens for Tax Justice, who said, “At some point, you just can’t squeeze them [top earners] anymore.” It won’t be long before Obama, like Bill Clinton, demands that everyone “pay their fair share.” As Margaret Thatcher once said, “The problem with socialism is that eventually you run out of other people’s money.”

I cannot stress to you how important these coming days are in our country’s history. Here’s what you can do: Please talk to your children, grandchildren or any younger Americans you know about what Obama is trying to do and how it negatively affects their futures. Many of these Americans have no idea what is going on now in Washington. It would be a crime for them not to be able to live in the America we all grew up in, enjoy the same freedoms, opportunities and prosperity, where hard work and achievement was rewarded, rather than punished with confiscatory taxes. We must act now to prevent Obama from turning the American Dream into a nightmare."