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Monday, November 03, 2008

Obama's Tax 'Plan' – You Do the Math…then Decide


IRS data from 2006 (last year figures available) show the following:

The top 1% of earners paid 40% of all income taxes. The Top 5% paid a little over 60%, and the Top 10% paid over 70% of all income taxes paid. The bottom 50% paid less than 3% of all income taxes for that year, and over 40% of Americans paid no income taxes at all.

Now, if Obama’s economic plan will “cut taxes for 95% of Americans,” that must mean 95% of the 60% of Americans who actually pay income taxes. Let’s see: that means the top 57% of taxpayers (out of the 60% who pay all the income taxes already) will get a tax increase. Since over 40% of Americans pay no income tax at all, doesn’t that mean that practically every American who now pays taxes will get a tax increase? (Yes; 95% of taxpayers will pay more.)

Also, a tax “cut” for the 40% who pay no income tax means they will have to get a check from the government. And where will the money come from to pay those checks? You guessed it…from that 60% of Americans who pay ALL the income taxes. Let me see if I’ve got this straight: Almost every American who currently pays income taxes will get a tax increase…in order to pay for the “tax cut” for the 40% who pay no taxes at all. And he calls this “fair and just”?

That’s not “spreading the wealth,” it’s “stealing the wealth,” and it’s pure socialism. Any candidate who tells such a blatant lie reveals his contempt and disdain for the people he seeks to represent; such bold arrogance bodes ill for our future if that candidate is elected. Once again a liberal Democrat has to try and sound like something else in order to get your vote. But if he’ll lie like this now, and show such contempt for “we, the people”…what is Obama capable of if he gets elected to the most powerful office on earth?

Formerly a liberal and an atheist, Paul E. Scates served as a Marine in Vietnam and is a lifelong student of American history, politics and culture. A former contributor to national website TooGoodReports.com, he writes his staunchly independent Conservative and informed Christian commentary for his fellow ordinary, working Americans, the “we, the people” who are ultimately responsible for preserving our Constitutional liberties.


Dr. Theo said...

It is all smoke and mirrors. We can be certain of one thing with Obama--everyone that works diligently and strives to succeed wil be punished. I am already trying to think of ways to continue the work that I enjoy and still reduce my taxable income. I do not intend to have most of my labor taken from me and "spread around" to those who care not to work.

North Star said...

you all are pathetic...are you seriously comparing Obama's tax plan to the socialist regime of Lenin, Mao and Castro??? Americans are not stupid enough to choose (BY A LARGE MAJORITY) someone who would destroy the fundamental structures of our society. Go America!

Bob Ellis said...

North Star, it is now obvious a majority of Americans are just that stupid. Last night is proof.

We went into this with our eyes open (or spitefully shut), so either way, we bear full culpability for our recklessness.

By the way, read some of the works of Karl Marx and Friedrich Engels. You'll find that Obama's philosophy about taxes (and a lot of other things) are very harmonious.

Das vidania!

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