The Tax Authority

It has long been said that "the power to tax is the power to destroy". This will never be more clear than 2013 when Obama's new tax scheme goes into effect. Not only will the so-called "Bush tax rate" cease to be,which was after all the prevailing tax rate for over a decade and should simply have been termed the "tax rate", but more than a trillion dollars in additional new taxes will be imposed through Obama Care. There has been no recovery to speak of beyond manipulated statistics and the new tax burden will surely stifle whatever meager growth the US economy has been able to muster. Recession or worse faces America in Barack Hussein Obama's second term.