Monday, October 13, 2008

Obama's "Tax Cuts"

No surprise that Obama has stretched the definition of "Tax cuts" in describing his economic plan, and he's really just hiding another wealth redistribution scheme. He actually said so today. In Obama's words to a PLUMBER, who seems to get it. (can I assume that most plumbers are middle class guys?)
Plumber to Obama: "Your new tax plan is going to tax me more, isn't it?
Obama: "It's not that I want to punish your success, I just want to make sure that everybody who is behind you...that they've got a chance at success too. I think when you spread the wealth around it's good for everybody."

There you have it folks, admission of redistributionist, Marxist intent, right out of his own mouth. You don't have to take my word for it any more.

Like you needed any more, there's a thorough analysis of Obama's "Tax Cut" plan in today's Wall Street Journal. In the article titled "Obama's 95% Illusion", it's made very clear exactly what this is, and how exactly you can "cut taxes" for 95% of Americans, when only about 60% actually pay taxes. REFUNDABLE TAX CREDITS, also known as "welfare", and coded "Demogrants" by George McGovern. This is when you don't pay a single dime in taxes, but when you file your return, you find that the tax credits added up to the government owing you money, and you get a check! Magical wealth redistribution that would make Karl Marx proud.

Obama's plan also creates a huge disincentive for work, as people would be penalized out of their refundable credits by actually earning more money at their jobs. This is so against the American grain that it makes me SICK!

Read the whole WSJ article for the full scope.

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