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The Debate of Raising Taxes

You get up early watch a little news on the TV before work and realize from CNN that your taxes are just about to double, retirement- if there such a thing will take you twice as long, and forget about getting your kids into college for under $30- 50,000 when it's all said and done you are broke. Does it matter what political party your root for anymore, is anyone on the hill doing anything in your behalf. With the laws in health care changing so quickly do you know what your future holds?

Obama appeared in an interview with Roberts on the January 9 "American Morning" fresh off his second place finish in the New Hampshire Democratic primary. He told Roberts high taxes were in the best interest of the American economy. "Well, I think that there's no doubt that letting the Bush tax cuts on the top 1 percent lapse would not have, I think, a significant impact on the economy, but would bolster our fiscal situation," Obama said. "We continue to run big deficits - our national debt has increased drastically. That is not good for our long-term economic security."

Bush and Republican Congress enacted expiration provisions for Bush tax cuts at the end of 2010. As these provisions expire the top-tier personal income tax rate will rise to 39.6 percent from 35 percent. But lower-income , families will pay more as well: the 25 percent tax bracket will revert back to 28 percent; the 28 percent bracket will increase to 31 percent; and the 33 percent bracket will increase to 36 percent. The special 10 percent bracket is eliminated.

"I didn't raise taxes once. I lowered taxes over the last two years," Obama said. The idea that Obama did not raise taxes is just plain wrong. He signed legislation raising taxes on cigarettes and other tobacco products soon after taking office. He also signed a new health care law that includes a tax on people who decide not to have health insurance, as an incentive for them to get coverage. The tax phases in gradually, starting in 2014. By 2016, the tax would be $695 per uninsured person up to a maximum of three times that amount, or $2,085.

So much fast legislation has occurred do Americans even know they are being ambushed by such new tax laws? If you don't see it know you will, it will be harder to save for retirement, harder for kids to get an education because college is less affordable, and harder to find work. The economy is not "bouncing back" as promised, if we go down this path, there will be no turning back.

As a health care industry leader in education, let us help educate you on Medicare and the benefits that lay there-in.

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