Re: > Hussein bin Obama's "Tax Cut" is Socialist Income Redistribution!
- From: Jerry Kraus <jkraus_1999@xxxxxxxxx>
- Date: Wed, 24 Sep 2008 07:50:38 -0700 (PDT)
On Sep 24, 8:32 am, Patriot Games <Patr...@xxxxxxxxxxx> wrote:
http://www.realclearpolitics.com/articles/2008/09/obamas_patriotic_to...
September 23, 2008
Obama's "Tax Cut" is Income Redistribution
By Ken Blackwell
During his Fox News interview with Bill O'Reilly, Sen. Barack Obama
responded to one question where the statistics contradicted his
position by saying that "there are lies, damned lies, and statistics."
He then went on to say that 95 percent of Americans would get a tax
break under his economic plan. That's ironic, because his comment on
"damned lies and statistics" is the perfect commentary on his own
plan. Taken with Sen. Joe Biden's novel definition of patriotism, Team
Obama is making an argument that Americans have never bought.
The statistics speak for themselves. Only 62 percent of Americans pay
federal income tax, meaning that 38 percent get a 100 percent refund
of any taxes withheld. So Mr. Obama's 95 percent that will receive
money from the government includes roughly 33 percent of Americans who
pay no income tax. One-third of Americans pay no income taxes yet
would receive a government check of perhaps $1,000 or more.
That is pure income redistribution. Some pundits argue that this is
Keynesian demand-side economics. It is not. Having the government take
money from business entities or affluent individuals and giving it to
those who pay no federal income taxes is not Keynesian. It's Marxist.
American voters don't buy Team Obama's arguments. A recent Gallup poll
shows that 53 percent of Americans believe that Mr. Obama would raise
their taxes. A recent Zogby poll shows a majority of Americans
understand that raising taxes will hurt the economy.
Energy prices have pounded the U.S. economy. The recent woes on Wall
Street have further shaken our weakened economy. Certain pillars of
our economy, such as productivity gains and American ingenuity,
continue to be powerful economic assets. But the current debt
situation, spending trends, the cost of combating global terrorism,
along with the energy crisis, leaves our economy in a truly precarious
position.
Most credible economists warn that raising taxes during an economic
downturn only makes the situation worse. Given our current economic
situation, Mr. Obama's tax plan is the equivalent of pouring gasoline
on a fire.
Then we come to the Team Obama fantasy that the Obama plan would cut
taxes for most Americans. Yes, Mr. Obama says he will cut rates for
lower-income Americans, but will more than offset that by raising
taxes on dividends, capital gains, higher incomes, corporations,
estates, and payrolls. But most Americans own stock, either directly
or through their IRA, 401k or union pensions. Dividend and capital
gains taxes will take money from all those. Those Americans on Main
Street who own a house or have other investments will be punished by a
capital gains tax increase.
Businesses and corporations do not pay taxes; we do. Businesses don't
have huge piles of money sitting in the closet that they simply turn
over to government when taxes increase. For every dollar that you
increase taxes on a business, they simply increase their prices by a
dollar. Who then pays the tax? We do. We do, when the product that we
bought last week for $20 suddenly costs $21.
Mr. Obama's plan for universal health care and increased spending on
just about everything costs hundreds of billions of dollars. To keep
his promises to provide those things while eliminating the deficit and
giving checks to lower-income families, he will have to raise taxes by
hundreds of billions of dollars. But if lower-income Americans receive
a check for $1,000 under the Obama plan yet have to pay $2,000 more
when buying food and clothes, they are worse off.
Affluent Americans have not had a tax holiday during the Bush
administration. Most analysts agree that the affluent pay more under
Mr. Bush. In 2000, the top 1 percent of earners paid less than
one-third of all income tax; now they pay 40 percent. The affluent
already carry more of the burden.
The ancient Roman philosopher Pliny the Elder once said, "In wine
there is truth." It means that people tell you what they really think
once they have a couple of drinks.
I don't think Mr. Biden was drinking on the campaign trail last week,
but it was a rare moment of complete candor when he told ABC News that
people who are well-off have a patriotic duty to pay higher taxes.
That perfectly states the liberal Democratic philosophy that those who
do the right things in their personal life to make more money have an
obligation not only to pay more taxes (which they do even under a flat
tax because 17 percent of higher-income is more than 17 percent of
lower-income), but that they should pay an ever-higher additional
percentage on top of that. Liberal Democrats consider it patriotic to
pay more taxes, and have a consistent record of voting to help nurture
our patriotism for us.
That reveals what is really going on here. The statistics don't lie.
Team Obama's plan is not economically prudent, and it's not a
patriotic tonic for what ails our economy.
Mr. Blackwell is a senior fellow at the Family Research Council, the
American Civil Rights Union and the Buckeye Institute in Ohio.
Yes, we know. That's why we like it.
And his "public service" programs will be workfare.
Welcome to the real world, Patriot.
.
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