‘Taxmaggedon’ and related items

“I will break the pride of your power” (Leviticus 26:19)

While most readers of this page are familiar with the term Armageddon as it is in the Bible (Revelation 16:16), less are probably familiar with the more recent term, taxmageddon. This is something that is supposed to happen on January 1, 2013, which is less than one week from now, unless the politicians in Washington, D.C. make certain changes that enough of them can agree on.

Here are three news items related to it:

Fiscal Cliff: The Mayan Doomsday may have come and gone without a bang or a whimper, but the looming “Taxmaggedon” is looking like it’s going to have some much more tangible effects on wallets in Worcester if Congress doesn’t reach a budget deal soon. Massachusetts is poised to feel the impact of the fiscal cliff worse than most states due to the disproportionate effect cuts in defense spending will have on the state’s defense industry. http://www.golocalworcester.com/politics/common-wealth-whos-hot-and-whos-not-in-mass-politics15/

Health care tax hikes for 2013 may be just a start

RICARDO ALONSO-ZALDIVAR
Associated Press

WASHINGTON (AP) — New taxes are coming Jan. 1 to help finance President Barack Obama’s health care overhaul. Most people may not notice. But they will pay attention if Congress decides to start taxing employer-sponsored health insurance, one option in play if lawmakers can ever agree on a budget deal to reduce federal deficits.

The tax hikes already on the books, taking effect in 2013, fall mainly on people who make lots of money and on the health care industry. But about half of Americans benefit from the tax-free status of employer health insurance…The new tax is a 3.8 percent levy on investment income that applies to individuals making more than $200,000 or married couples above $250,000…

Other health care law tax increases taking effect Jan. 1:

— A 2.3 percent sales tax on medical devices used by hospitals and doctors. Industry is trying to delay or repeal the tax, saying it will lead to a loss of jobs. Several economists say manufacturers should be able to pass on most of the cost.

— A limit on the amount employees can contribute to tax-free flexible spending accounts for medical expenses. It’s set at $2,500 for 2013, and indexed thereafter for inflation. http://minnesota.publicradio.org/display/web/2012/12/25/health/health-care-taxes/

TAXMAGEDDON IS COMING ON JANUARY 1, 2013 – THE LARGEST TAX HIKES IN AMERICAN HISTORY…

“Taxmageddon” – the date the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2013:

FIRST WAVE: EXPIRATION OF 2001 AND 20043 TAX REFLIEF…

SECOND WAVE: OBAMACARE TAX HIKES…

THIRD WAVE: THE ALTERNATIVE MINIMUM TAX AND EMPLOYER TAX HIKES (http://www.libertynewsonline.com/article_301_32285.php)

Basically, the first wave increases income taxes and re-implements the “death tax” for more people.

The second wave will cost high earners a lot, cost working people without government approved medical insurance a lot, and will affect the USA economy in ways few have considered. Those who are not in the upper income levels will be affected financially for many reasons. Two that I will briefly mention here is the possible taxation of health benefits (and/or reduced deductibility) and the impact of increased taxes as a drag on the overall economy.

The third wave has been estimated to affect 31 million families for the increase of “alternative minimum tax,” all business owners, and even affect charitable contributions.

From an economic perspective, taxmaggedon could hurt the USA, and perhaps quite severely.

The economy, debt situation, and moral situation in the USA is serious and will end in ways that most Americans really do not believe is possible.

To learn more, please check out the following articles:

Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Will the Anglo-Nations be Divided? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people?
Who is the King of the West? Why is there no End-Time King of the West in Bible Prophecy? Is the United States the King of the West?
Barack Obama, Prophecy, and the Destruction of the United States This is a new 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about Mitt Romney. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic, Catholic, Kenyan, and other America-Related Prophecies? What About Mitt Romney?
Barack Obama, Prophecy, and the Destruction of the United States–Amazon Kindle edition. This electronic version is available for only US$2.99. And you do not need an actual Kindle device to read it: Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon’s Free Reader Apps. After you go to for your free Kindle reader and then go to Barack Obama, Prophecy, and the Destruction of the United States–Amazon Kindle edition.