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Obama wants to lead us down the path to socialism August 19, 2008

Posted by Nevada Pundit in Barack Obama, Policy, Socialism, Taxes.
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Well worded proof of Obama’s blatant wealth distribution:

Barack Obama’s tax plan is the opposite of supply-side economics. He proposes to raise marginal rates for just about every federal tax. He also proposes a raft of tax credits that taxpayers can receive if they engage in various government-specified activities.

Moreover, the tax credits would mostly go to those who pay little or nothing in federal income taxes. His trick is to make the tax credits “refundable.” Thus, if the tax credit is for $1,000, but the taxpayer would otherwise only pay $200 in taxes, the government would write a check to the taxpayer for $800. If the taxpayer pays nothing in federal income taxes, the government would pay him the whole $1,000.

Such credits are not tax cuts. Indeed, they should be called The New Tax Welfare. In effect, Mr. Obama is proposing to create or expand a slew of government spending programs that are disguised as tax credits. The spending on these programs is then subtracted from the total tax burden, in order to make the claim that his tax plan is a net tax cut overall.

Here it is, refundable tax credits…getting back more that you put in.  This is supposed to be Obama’s tax program right?  Well it is with a bonus program.  As of now the bottom 60% pay 1% of all federal taxes, this would actually put them at a net gain where they would be drawing money directly from the tax system instead of having any obligation to it.  What this does is take money directly from the pockets of the top 40% and put it directly in the pockets of the bottom 60% above and beyond the tax rate.  This is not tax breaks this is wealth distribution.

This just isn’t right, there are people who work hard for what they have.  They took the time and the financial burden to go to college, they work hard at their jobs and put in the hours to provide a better life and they are entitled to it.  I have said this so many times but personal responsibility is what made this country the great country it is.  The freedom to make your own decisions and the responsibility to live by the consequences of those decisions be they good or bad.  If you’re not willing to do what is necessary to have a higher income then those that do should not have to suffer for your decision, it was your decision.

I’m the first to say that I would actually benefit from Obama’s plan, but that doesn’t make it right.  America belongs to all of us and we all have an obligation to our country.  We can’t lay the burden at the feet of only a few to fund our country and then expect them to give more to supplement us.  Everybody owns responsibility and should not only be willing to live up to it, but want to.  

Comments»

1. AnnapolisMD - August 20, 2008

Lieberman to Speak at GOP Convention
Posted by: Nevada Pundit | Aug 20, 2008 11:33:26 AM
“Ah there is nothing that the DNC hates more than to have an American stand up for themselves and not blindly and mindlessly follow their lead. ”

You did mean to make this comment about the RNC didn’t you? I mean, they are the ones that kill their own when they speak out against MadManMcCain. Like the 8 Repug Senators that are skipping the RNC convention because the don’t agree with the old goat.

Get serious will you?