Friday, October 24, 2008

Obama Tax Plan- Calculations Do Not Add Up (Voters Misled)

The publishes a forensic article -on Obama's tax proposals-titled "It doesn't compute: Obama's tax plan a ruse". Here are some excerpts:
..."According to the plan, "his tax relief for middle-class families is larger than the revenue raised by his tax changes for families over $250,000." That sounds like he's giving a net tax cut. But much of what he calls "tax cuts" are actually cash payments to low- and middle-income Americans. Ultimately, he sends out of Washington hundreds of billions of dollars more than it takes in..."

"....The bottom line is that Obama is not being honest about his tax and spending plans. It is impossible -- impossible! -- for him to finance his giveaways by taxing only those making $250,000 or more. He will have to raise taxes substantially on people making much, much less than that.."

Take particular note of this readers comment:
"Most small business owners file their taxes as individuals, not as businesses. When asked whether the $250,000 amount was 'net' or 'gross' income, the Obama spokesperson responded "gross". Therefore, any Joe-the-Plumber who has 6 employees and who, along with them, draws a $35,000 salary, will find himself with a significant tax increase.What's his option? Lower salaries? Cut an employee?Obama's tax plan is downright stupid, particularly in this environment.And as for his 95% getting a tax break, two pesky items to point out:First, 40% pay NO federal income taxes at all, so 40% will be getting a welfare check at the expense of the other 60%.

Second, EVERYONE who pays taxes at all will see them increased because the Bush tax cuts will be tossed.In so many ways, Obama would be a disaster for the USA.Therefore, while I am no cheerleading fan of McCain's, he is the one for whom my family is voting. Once again, the lesser of two evils. Much lesser.- Pamela Valentine, Washington NH

The full article is compulsive reading for all voters. Be afraid; be terribly afraid of Obama's tax proposals.

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