Wow! I am RICH!

I was not aware that I had become one of the wealthy. But, I figure I am. You see, I just connected the dots. Democrats say they NEVER want to raise taxes on any but the rich right? And as I pointed out on my radio show a few weeks ago, and, as Michelle points out, MY taxes and yours too, are going up, soooooo, we must be RICH!

On ABC’s This Week today, tax cheat Treasury Secretary Tim Geithner championed the expiration of the Bush tax cuts and pooh-poohed the economic impact of tax hikes on the highest earners in the country. It’s “responsible” to punish the wealthy, he argued.

Because after spending America into oblivion, Team Obama now wants to show the world that we are “willing as a country now to start to make some progress” on deficit reduction.

On NBC’s Meet The Press, Geithner crusaded for raising the capital gains tax rate.

Then, to show his commitment to fiscal responsibility, he said the administration is going to kick the can again on behemoth fiscal black holes Fannie Mae and Freddie Mac:

Investor’s Business Daily makes clear that it is not just the “rich” who will pay for Obama redistributionism:

Through the end of this year, the federal estate tax rate is zero — thanks to the package of broad-based tax cuts that President Bush pushed through to get the economy going earlier in the decade.

But as of midnight Dec. 31, the death tax returns — at a rate of 55% on estates of $1 million or more. The effect this will have on hospital life-support systems is already a matter of conjecture.

Resurrection of the death tax, however, isn’t the only tax problem that will be ushered in Jan. 1. Many other cuts from the Bush administration are set to disappear and a new set of taxes will materialize. And it’s not just the rich who will pay.

The lowest bracket for the personal income tax, for instance, moves up 50% — to 15% from 10%. The next lowest bracket — 25% — will rise to 28%, and the old 28% bracket will be 31%. At the higher end, the 33% bracket is pushed to 36% and the 35% bracket becomes 39.6%.

But the damage doesn’t stop there.

The marriage penalty also makes a comeback, and the capital gains tax will jump 33% — to 20% from 15%. The tax on dividends will go all the way from 15% to 39.6% — a 164% increase.

Both the cap-gains and dividend taxes will go up further in 2013 as the health care reform adds a 3.8% Medicare levy for individuals making more than $200,000 a year and joint filers making more than $250,000. Other tax hikes include: halving the child tax credit to $500 from $1,000 and fixing the standard deduction for couples at the same level as it is for single filers.

Michelle has much more on your new status as a greedy, wealthy person in need of punshment!