October 18, 2008
Obama's Stolen Tax Cuts
Barack Obama keeps telling us that he's going to cut taxes for 95-percent of Americans... but did you ever notice he never says where that cut is going to come from, and the media never asks?
One thing: the 95% number is fundamentally dishonest because I'm pretty sure it measures against the CBO baseline – which assumes all of the '01 and '03 tax cuts expire in 2010. Politically, that's nonsense. But it allows Obama to count extending the politically popular Bush tax laws as an "Obama tax cut." Compared to what people actually pay (what Republicans at the House Ways and Means Committee call the "reality baseline"), there isn't actually a tax cut. Put it this way: currently families get a $1,000 per child tax credit. Now, the CBO baseline assumes that credit drops to $500 per child in 2011. So if the Obama Administration keeps the credit at $1,000 – which means the family pays the same as they always have – it counts as a "tax cut." I know you understand all this, but it drives me batty how intellectually dishonest the mainstream media has been in covering the tax issue in this election.
Did you get all that?
Senator Government is trying to steal credit for the Bush tax cuts that he voted against in the Senate.
It turn out we do have a candidate running his campaign based on George W. Bush's legacy.
Barack Obama just doesn't have the integrity to admit it.
The O spinners claim that SocSec tax is "income" tax, and claim that his credits are (in essence) deleting the SS tax paid on the first $8100.00 of income.
Posted by: dad29 at October 18, 2008 08:54 AMI suppose it wouldn't do for Obama to extend "Bush's tax cuts for the rich". Would some truly rich person even notice they received a $500 break?
Posted by: RicardoVerde at October 18, 2008 10:38 AMIf you become truly rich on your own money (as opposed to freebies, bailouts, other gimmees from government, you worry about 5 cents, five dollars and five hundred dollars.
Posted by: Larry Sheldon at October 18, 2008 10:47 AMThe Big-Money Media, as John McCain said, is really an "independent, civic-minded, and non-partisan group.....like ACORN." The BMM is not only intellectually dishonest, they are fundamentally dishonest. They believe. That is their fundamental flaw. Dispassionate observers cannot allow themselves to hold a belief system with which all external observations must be rectified. It is the very definition of prejudice. Seeing The Media stripped naked in public in broad daylight, as their financial fortunes plummet like respect for them, has been the delight of the presidential campaign.
Posted by: twolaneflash at October 18, 2008 01:14 PMObama says he wants to cut taxes for 95% of Americans. About 33% of filers pay no taxes now and file for benefits like the earned income credit. Obama proposes to cut their taxes. In other words, it's not a tax proposal but a gigantic new welfare scheme.
Posted by: Ken Hahn at October 18, 2008 03:46 PMEven better for BO; he simply lets W's tax breaks expire, then 'cuts' taxes to half of what W cut them.
He gets a raise that he can technically call a cut.
Posted by: Lord Nazh at October 19, 2008 04:54 PMKen Hahn said: "Obama says he wants to cut taxes for 95% of Americans. About 33% of filers pay no taxes now and file for benefits like the earned income credit. Obama proposes to cut their taxes. In other words, it's not a tax proposal but a gigantic new welfare scheme."
Exactly my thoughts! Obama truly is going to spread the wealth by taking money from productive citizens and giving it to those whom George Bernard Shaw referred to as "the undeserving poor."
You might be interested in reading this post: http://grandrants.wordpress.com/2008/10/14/share-the-wealth-our-wealth-not-his/
check it out and spread the word
http://www.youtube.com/watch?v=uVS3F-4TB9c
Posted by: titor at October 20, 2008 08:28 AM
