Thursday, October 02, 2008

Obama's Tax Plan Doesn't Add Up

Naturally you'll see few media outlets pointing this out. They're too busy manipulating polls on Obama's behalf.
Barack Obama portrays himself as a fiscally responsible tax cutter who will retrieve the government from the edge of economic abyss - but critics and independent watchdogs say otherwise.

"Here is what I can tell the American people: 95 percent of you will get a tax cut," Obama said during last week's debate.

It's a line that appeals greatly to middle-class voters already strained by taxes and the troubled economy.

But an analysis by outside critics and independent analysts who have studied Obama's economic policies say it's not that simple.

Obama's definition of a "tax cut," for instance, is less than precise.

Many of the "cuts" for lower-income people are actually "refundable tax credits."

Rather, they are checks from the government handed to people who don't pay income taxes. This spending, of course, is paid for by other taxpayers.
I distinctly recall Bill Clinton promising a "middle-class tax cut" back in 1992. Once he was safely in office it was mere weeks before he declared that dead and we got the largest tax increase in history. Obama can't help himself. He's a tax-and-spend liberal and any notion that the "middle class" or any class for that matter will get tax relief is sheer fantasy.

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