Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.” —Ronald Reagan
It is difficult keeping up with Obama's promises to the voters. There have been so many changes and the package he promises voters is reported in the pliant Media in such a positive way, that the sum total is bewildering. One thing I can say with certainty, is that he promises a shift toward the welfare state like nothing our Republic has experienced since the Constitution was ratified.
Obama adds continually hype the fact that anyone who makes less than $250,000 a year will not have their taxes raised. What he doesn't tell the voters is that those millions who do not pay taxes, will get a REBATE check! Where the money will come from is of course out of the pockets of the hard working middle class.
Mr. Obama's campaign promise, which he has repeated in his speeches and in the presidential debates, stems from his "Making Work Pay" tax cut that will give a $500 refundable tax credit to every worker or $1,000 to each working couple. But because this provision in his economic-recovery plan is "refundable," a large number of middle- to lower-income workers who have no income-tax liability after taking tax credits and deductions the that Internal Revenue Service allows, will be given the equivalent of the tax cut in the form of direct payments from the US Treasury - funded by higher-income taxpayers.
Because the IRS says that nearly 46 million tax filers - one-third of all filers - had no tax liability in 2006, there is the question of how millions of Americans can receive an income "tax cut" when they pay no taxes. "It's got to raise alarm bells when you claim you are going to cut taxes for 95 percent of working families when more than 40 percent of them pay no income taxes," said Phil Kerpen, policy director at Americans for Prosperity, a grass-roots free-market advocacy group...The freshman senator's campaign Web site defines the Democrat's tax-relief proposal only in terms of offering workers "middle class tax cuts" and "for 10 million low-income Americans, will completely eliminate their federal income taxes."
But in a recent research paper on federal taxpayers, Scott Hodge, president of the nonpartisan Tax Foundation, said, "There will be 47 million tax returns with zero-income tax liability in 2009 under current law. That's one-third of all tax returns and those 47 million tax returns represent 96 million individuals. "source:Investors Business Daily
His "tax cuts" are base lined against the Clinton era brackets and ignore the President Bush tax cuts. The result will a huge tax increase for millions of middle class taxpayers. The one hundred million taxpayers that he claims are being ignored pay no income taxes now, only the payroll (Social Security) tax. He intends to give them a break even on this tax through a massive income redistribution scheme which is nothing more than welfare! These are facts not my opinions!
Although I realize that my message is received by too few people, and am literally "preaching to the choir". Wake up Americans and spread the message to your friends and neighbors before we awaken in the new Marxist state!