This article is a MUST READ. A great analysis of the Obama tax plan. If you think you are getting a tax cut from Obama, think again.
Select quotes, emphasis mine:
All but the clean car credit would be "refundable," which is Washington-speak for the fact that you can receive these checks even if you have no income-tax liability. In other words, they are an income transfer -- a federal check -- from taxpayers to nontaxpayers. Once upon a time we called this "welfare," or in George McGovern's 1972 campaign a "Demogrant." Mr. Obama's genius is to call it a tax cut.
As the nearby chart illustrates, the marginal rate for millions of low- and middle-income workers would spike as they earn more income.
2 comments:
Amen. I am such a huge fan of Joe the Plumber. Before the debate I read an interview some reporter had with this Joe and I was instantly impressed with him - and the way he could articulate my fears of Obama's ideals from a working class point of view.
Kyle had an idea for the next campaign. Iff Obama is president and in the next four years raises taxes so that Joe can't buy the company he wants to and fulfill his American dream, the next Republican candidate should have a commercial, "Remember Joe the Plumber? Joe wanted to fulfill his American Dream. Joe asked Barack Obama about the American Dream, and Obama's reply was that he is only trying to help those less fortunate and "spread the wealth around". Unfortunately for Joe, Obama's tax plans put up barriers to Joe's ability to fulfill his dream. Thank you, Barack Obama, for foiling Joe's American Dream."
Or something of the sort. But of course, I like Joe now, so I want him to fulfill his dream :) Smart guy!
Go Joe!
Thanks for this article! I sent it to my mom who gave it to a coworker who supports the Dark Lord. The coworker is considering chaning her vote!
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