President Obama has repeatedly vowed to not raise taxes on those Americans making under $250,000 a year. For example, on the campaign trail, Mr. Obama said this: "I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes." We can now see that once again, politicians are more concerned with buying votes than earning respect for honesty. As almost everyone now knows, recently the Patient Protection and Affordable Care Act (PPACA, "Obamacare"), was recently ruled as (substantially) constitutional by the U.S. Supreme Court.
David A. Pace, CFA
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