Posted by
James Burns on Monday, October 13, 2008 9:09:20 AM
I hear so much spin and talk on the Obama tax plan that I decided to shed some light on it. We have all heard that 95% of Americans will get a tax cut if Obama wins and can get these cuts passed. Remember he can't do anything unless congress ok's it first. First 40% of Americans don't pay taxes. So is the 95% of people who will get tax cuts out of the remaining 60% that actually pay taxes? So if that is the case then I think that 95% number will be less. Why? Because Obama also wants to raise taxes on those making over 250,000 dollars a year. What percentage is that? Does this number include small businesses as well as self employed persons?Many are sole proprietorships. It isn't cost effective sometimes to incorporate because the owner is the only employee. So these people would pay more taxes, this could shut them down. A tax hike here would make it cheaper for these people to close their doors and work for someone else. Is that good for the economy? In a rally yesterday in Ohio, Obama was asked by a self employed plumber "under your plan will I have to pay more taxes?" Obama's response was " yes, we are going to spread the wealth around." So what motivation does this guy have to grow his business under Obama. If I was going to be penalized for my hard work, I would close up too and work for someone else, its cheaper.
Finally here is the creme' de la creme, those 40% percent who don't pay taxes will get a check, 500 dollars for individuals, 1000 dollars for couples. Now granted people making under 250,000 and pay taxes will get a check. But why should you get a check if you don't pay taxes? This is income redistribution. Paying someone else for my hard work. Why then should I go out and work hard and try to be a success? This is socialism at its best. This country is based on its hard work ethic, and the backs of its citizens. Why should those who don't contribute benefit. Just another case of democratic entitlements.