I’m more confused by Barack Obama’s tax plan than ever.
He says he will lower taxes on 95% of Americans. But about 40% of Americans don’t pay federal income tax. That means when he raises the tax on the top 5% he’ll simply give the money to the 40% who pay no income tax and call it a rebate. How will he pay for his new programs if he just turns around and gives any increased revenue away?
To complicate things further, last week Barack Obama said he would hold off on raising taxes on the wealthiest Americans because it would be a bad idea in a shaky economy. That was the first thing he’s said during his campaign that made any sense. But he will still “lower” taxes on those who pay no taxes? Where will he get the money to send those “rebate” checks?
Today, Joe Biden seemed to say they’re back to raising taxes on rich Americans. He called it “patriotic.” But I’m still confused. Since Obama admitted last week that raising taxes will hurt the economy, and with the troubling economic news of this week, Barack Obama and Joe Biden must want to hurt the economy.
Make sense?
[...] Original Lonely Conservative [...]
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[...] Original Lonely Conservative [...]
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It wouldn’t occur to biden that he and his buddies on Capitol Hill to stop throwing away the taxpayers’ money. Obviously, Capitol Hill isn’t a very good place to find patriots or patriotism.
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