Three Strikes And You Should Be Out!

George Bush, Sr. lost his reelection bid because of his "read my lips, no new taxes" and, of course, the votes taken away from him by Ross Perot. Now, we have another President who has made a "no new taxes" promise that may ultimately bite him in the rear.

During the campaign and following his win, Obama has repeated this well-worn promise:



However, he has already broken that pledge once and he appears to be on the way to breaking it again; at least two more times.

First, as part of the health care bill, as promoted and signed into law by Obama, the Congressional Budget Office (CBO) now estimates that 4 million Americans will be taxed (actually fined) by the IRS for not having health insurance. And, it is estimated, in the same CBO report, that most of those 4 million will be middle class Americans that Obama promised not to tax (Click to See Full Story: Nearly 4 million to pay health insurance penalty by 2016, CBO says).

Then, Obama and the Democrats will let the Bush Tax cuts expire. As part of that, the capital gains tax will again rise to 20% from the current 15%. This means that any middle-class families that have put their savings away in Mutual funds, stock, or other investment securities will be taxed at a higher rate. A direct contradiction to the above video.

Lastly, as a result of an interview that Obama gave Wednesday on CNBC, we now know he is "not" opposed to the Value Added Tax and that, presumably, Volker's broaching of that concept two weeks ago was done to intentionally pave the way for it. Of course, the VAT will not only hit the middle class hard but it will hit the poor and working poor the hardest.



If you can't believe this guy when he promises no taxes, how, then, can you believe him when he promises his policies are going to make our lives better?