To the Editor:
As people get ready to vote in November, one of the things they should keep in mind is the number of huge tax increases that Sen. Amy Klobuchar, D-Minn., and Congressman Tim Walz, D-Minn., voted for and President Obama signed into law.
A minor portion of the taxes have kicked in, but the vast majority are "conveniently" set to take effect after the election. (It was explained that the Democrat party did not want to "confuse" the voters before the election.)
Obama's 2008 campaign promise to "not raise taxes by one dime on anyone making less than $250,000" went down the drain 16 days after he took office when he signed into law new taxes on tobacco, liquor, tariffs on tires, etc. But in defense of Obama, I suppose he thinks no one making less than $250,000 a year smokes, drinks or operates a vehicle that has tires. Seriously, the taxes coming into effect will be in the trillions of dollars range, so people should be prepared for them. These are not tax hikes that will result from the Democrats allowing the Bush tax rates to expire; these are entirely new taxes dreamed up by the Democrats. And the "middle class" is going to feel every one of them.
One new tax will be raised by including as income any health benefits your employer furnishes. This will strike many of the people who have managed to maintain a job in spite of Obama's war on small business, capitalism and free enterprise.
There also will be a 3.8 percent surtax on investment income for certain persons. This will raise the top tax rate on dividends, for example, to 43.4 percent from its present 15 percent. Rates on capital gains will skyrocket from 15 percent to 23.8 percent. These will, of course, strike many retired individuals whose main source of income is dividends from investments they have made over the years in anticipation of retirement or who those plan on selling their home, farm or other property.
Another tax will be raised by putting a cap of $2,500 on flexible spending accounts. These are presently unlimited. Especially hard- hit by this tax will be parents of special needs children or others who use these funds for things such as medical care.
And let's not leave out the individual mandate excise tax. This one kicks in in January 2014. By 2016, the tax for not buying "qualifying" health insurance (whatever that may be defined as) will be as high as 2.5 percent of your adjusted gross income (form 1040, line 37).
There are a number of other taxes coming along, but all of them were voted for by Klobuchar and Walz, neither of whom read the cleverly (mis)named Affordable Health Care Bill before voting for it. (Do you remember Pelosi's infamous, "You have to vote for it before you can find out what's in it" statement?) This was a grievous violation of one of their primary responsibilities to the citizens of Minnesota and the United States.
Walz states on his website that his vote was "the fiscally responsible thing to do." That's pure hogwash. Without time to read even the title page of the 2,700-page document (even if he could have gotten a copy of it), Walz wouldn't have known anything about it at the time he actually voted. To claim he acted responsibly is totally false. He and Klobuchar simply made themselves into multi-trillion dollar rubber stamps by voting for Obamacare.
It is time for Klobuchar, Walz and Obama to be voted out of office for their totally irresponsible conduct.