The Conservative Cave
Current Events => Politics => Topic started by: Chris_ on September 24, 2009, 07:48:59 AM
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Obama's Policies Would Redistribute Nearly $1 Trillion in Wealth Every Year
(CNSNews.com) - By 2012, nearly $1 trillion from the top 30 percent of American families will be redistributed among the bottom 70 percent if Obama’s proposals on taxes, health care, and climate change become law, according to the Tax Foundation.
“Even if none of Obama’s policies becomes law, the extent of income redistribution is remarkable,†Scott Hodge, president of the nonpartisan, nonprofit organization, said. “The top-earning 40 percent of families will transfer $826 billion to the bottom 60 percent in 2012.â€
Under the Obama plan, 70 percent of American families as a group -- those earning less than $109,460 -- will receive more in benefits than they pay in taxes, Hodge said.
“The majority of people below the 70 percent mark will get more back than they pay in taxes,†Hodge told CNSNews.com.
This would leave the top 30 percent -- those making more than $109,460 -- paying more in taxes than they receive in federal spending, Hodge said.
MORE (http://www.cnsnews.com/news/article/54468)
Class bigotry at its finest. Apparently being successful is wrong. :bs:
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Yep, 0Bama is spending more on welfare/wealth redistribution in one year than what President Bush spent total in Iraq.
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Where are all of the ditch dwellers bleating about the $$$$$$$$ spent in Iraq? :whatever:
I say we pull out of the war on poverty, climate change and healthcare. It's a quaqmire!!!!