The WSJ has a great piece on Obama’s nonsense that 95% of Americans will receive a tax cut.
“One of Barack Obama’s most potent campaign claims is that he’ll cut taxes for no less than 95% of "working families." He’s even promising to cut taxes enough that the government’s tax share of GDP will be no more than 18.2% — which is lower than it is today.
It’s a clever pitch, because it lets him pose as a middle-class tax cutter while disguising that he’s also proposing one of the largest tax increases ever on the other 5%. But how does he conjure this miracle, especially since more than a third of all Americans already pay no income taxes at all? There are several sleights of hand, but the most creative is to redefine the meaning of "tax cut."
Read the full article.
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Everyone should be outraged at this ridiculous plan that will cost Americans billions of dollars on nothing.
The plan sponsored by Sen. Barack Obama, the presumptive Democratic nominee for the office of president, is estimated to cost the United States some $845 billion over the coming few years in an effort to raise the standard of living around the globe.
I really can’t keep up with all the spending plans Obama has proposed already. Where is this money coming from, and don’t tell me "tax the rich", because his spending proposals are way beyond that.
Be sure to e-mail this to your friends, this is just another reason not to elect this global socialist to office.
As each day goes by, the economic ignorance of Barack Obama comes more into light. Obama now proposes a windfall profits tax on the so-called “big oil”. These taxes will be handed over to poor people.
"I’ll make oil companies like Exxon pay a tax on their windfall profits, and we’ll use the money to help families pay for their skyrocketing energy costs and other bills," the Illinois senator said.
What? I’m sure Hugo Chavez would approve of this, but what has happened to this country when income redistribution is being pushed. It’ doesn’t matter what the opinion is and insane hatred of oil companies, having business profits taxed and redistributed to people who can’t manage their own finances is purely idiotic.