A Middleclass "Tax Cut" The Obama Way 10/13/08 2:15pm
Now that Obama is finally fleshing out some of his campaign promises, it is time to start examining what an Obama administration will do for the nation or for us as its citizens ("stay out of the way" would be my first choice but . . . ). Obama has promised a "middleclass tax cut" for . . . drum roll please . . . 95% of working families. Wow! But how does that work when only about a third of working families actually pay any taxes at all? By raising taxes on the remaining 5% by the largest amount ever, that's how.
And that is what the problem is. The "tax cut" that Obama speaks is really a transfer of wealth from tax payers that actually pay taxes to wage earners that pay nothing in taxes. That is not a "tax cut" anywhere in the real world unless you are a member of Obama's crew. There are also outlined seven different "credits" that non-payers can take advantage of. But how can you get a credit when you don't pay any taxes at all? Well, all that has to happen is to make it "refundable" which is Washington's fresh new-speak for an income transfer from those that pay to those that don't. All of this is just a rephrasing of old Socialist redistribution schemes to fool the unwary and slip the puck past the low information voter that is just now paying attention to the race.
There are also other problems with Obama's plan that you can read about in greater detail [Here] and also read about McCain's more reasonable proposal as well. From the Wall Street Journal, the people who know this stuff best. Make sure you see the graphic that is published with the article too.
Update 10/14/08
I had been looking for this sound clip, having heard it last night. Well I did better than that, I located the video and it illustrates Obama's Socialist tax plan as explained in Obama's own words. This questioner is a plumber talking to Obama, obviously worried, and knowing, that he will be taxed more in an Obama administration.
Did you hear how Obama explained the plumber's impending tax increase? "I don't want to punish your success, I just want to make sure that everybody who is behind you, they've got a chance at success too." He then goes on to say: "I think that when you spread the wealth around it's good for everybody . . .". Classic Socialist newspeak.
So it is obvious that nakedly taking from one who is productive to give to another who isn't is perfectly OK by Obama's lights. Carl Marx would be proud. And we aren't talking about taxing the CEO of Enron or General Motors here we are talking about a plumber people.
How about leaving this plumber with enough money to grow his business and hire another worker rather than give that person a welfare check?
It is obvious to me that with the election of Barack Obama and a Democratic controlled congress (who one member has admitted that they want to nationalize the oil companies ala' Hugo Chávez, who's state controlled economy is collapsing by the way) will mean the United States will take an unprecedented far leftward jerk into the land of high tax income redistribution, government controlled industries and socialized medicine. A far cry from freedom, free markets and capitalism.
Update 10/15/08
The plumber that spoke to Obama in the video above (Joe Wurzelbacher), here makes his opinion known about what he heard from Obama. He explains how small his company is, where he lives and his dreams.
So, I thought that Democrats were for the working guy. What happened to that? Trust me, if you haven't been paying attention, that was gone a long time ago.
