Tuesday, January 20, 2015

$7.5 Trillion in Debt Added Since O...







◼ PAPER: Obama spent more for dinner in Hawaii than his tax credit for families... - Paul Bedard/Washington Examiner via Drudge
Among the highlights of President Obama’s State of the Union address plans to pull the American family out of economic plight is a $500 tax credit for two-earner families....

It’s to pay for the added commuter and child care costs of two-earner families, but it wouldn’t cover much....

Put another way, the credit wouldn't even cover the tab for two at Hawaii's Vintage Cave restaurant where the president and first lady dined on New Year's Day. It costs $295 per person, and doesn't even include wine.
◼ Tax Hike on College Savings Plans Breaks Pledge... - Americans For Tax Reform
Tonight, in his State of the Union address, President Obama will propose a series of tax increases on the American people. One of these tax increases is indisputably an income tax hike on middle class families with children.

Under Obama’s plan, earnings in “Section 529” (named for its location in the Internal Revenue Code) college savings plans will face full income taxation upon withdrawal.

Under current law, earnings growth in 529 plans is tax-free if account distributions are used to pay for college tuition and fees. The Obama plan will tax earnings in these accounts even if they are used to pay for college tuition and fees.

These accounts are commonly used by middle class families. There are about 12 million 529 accounts open today, and they have an average account balance of approximately $21,000. Most 529 plans permit monthly contributions as low as $25 per month.
◼ Worst record on promises kept since Gerald Ford... - Stephen Dinan/Washington Times
Mr. Obama has the second-worst record of getting his State of the Union policy requests enacted into law of any president in the last five decades, according to an analysis by two scholars that puts him only above the unelected two-year presidency of Gerald Ford....
◼ Full list/video montage at the link... - Grabien

◼ Biden pitches 'free' stuff... - Paul Bedard/Washington Examiner
He did not mention the proposed $320 billion in taxes the White House is also heralding.
◼ As Obama Prepares To Paint A Rosy Picture Of His Presidency, A Look At The Numbers He Won't Mention  - Daniel Halper/Weekly Standard
$7.5 Trillion: Amount Added To The National Debt Despite Obama's 2010 State Of The Union Declaration That He Would Not Leave "A Mountain Of Debt." (U.S. Treasury Department, Accessed 1/14/15; President Barack Obama, Remarks On The State Of The Union, Washington, D.C., 1/27/10)

4 Trillion: Amount Of Debt That Obama Once Called "Irresponsible" And "Unpatriotic." (Sen. Barack Obama, Remarks At A Campaign Event, Fargo, ND, 7/3/08) MORE at the link
◼ RUSSIAN SPY SHIP IN HAVANA ON EVE OF USA TALKS - AFP









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