Wednesday, October 22, 2008

Taxes and Dishonesty: Obama

If a new bank took over your mortgage and told you that your monthly payment was being changed from $3600 to $3900, would you consider that an increase? If the bank tried to tell you that you shouldn't consider it an increase because your mortgage payment was once that high, years ago, would you buy it?
Obama wants us to believe that raising our taxes is not really a tax increase because they were once (under Clinton) that high. As if that's the way they should always be. So when he says that he will only raise taxes on the top 5% of earners, he is dishonest, because he is classifying the increases under this plan as a "rollback", not an increase.
Here is the problem: you cannot possibly deal with the economic situation as it is today, add all the programs Obama proposes, and then top it off with national healthcare, without a massive influx of capital. How does Obama propose to raise that capital? By raising taxes on the top 5%, and reducing taxes on the lower 95%. Folks, it doesn't take a genius, or even a graduate of a CA Community College to know this won't work. He is either lying or pitifully naive.
The top 5% of earners in America pay approximately 60% of all federal income taxes. This is the group he is going to target for all the increases? And he is going to do it in the name of "fairness"- even if it doesn't bring in more money, he has said.
Since the bottom 30% of earners in America pay zero taxes, Obama would send those people a check. That is correct. So to pretend he is not a redistributionist is ridiculous. That is exactly how he intends to operate, and thanks to a Pelosi/Reid Congress, he will have his way. Hang on America;for all of us who work hard to earn a living, the next 4 years are going to be a bitch.

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