I have been ranting for months that obama's tax plan won't fund his domestic agenda. but it it turns out that it
doesn't even pay for itself.
mark my words, Obama will have to come after the middle class to pay for his socially engineered, santized, optimized
utopia. but, hey, it's all for our benefit, we're just too dumb to realize it; that's why we need the Obamessiah. to fix
us, our world, our ocean, and our obsessive clinginess to God.
It doesn't compute: Obama's tax plan a ruse
Sen. Barack Obama claims that if only we let him raise taxes on a measly 5 percent of "working Americans," he could do great things.
Well, that sounds just peachy. Tax the rich, give to everyone else. Except there's one little detail the national media don't seem to like pointing out. The math doesn't add up.
Numerous organizations, including the Associated Press, have noted that Obama's proposals spend hundreds of millions of dollars more than his tax hikes raise. What is less well known is that Obama's tax plan itself sends out of Washington far more than it brings in. Obama's campaign twice admits that in the wording of the tax plan.
According to the plan, "his tax relief for middle-class families is larger than the revenue raised by his tax changes for families over $250,000." That sounds like he's giving a net tax cut. But much of what he calls "tax cuts" are actually cash payments to low- and middle-income Americans. Ultimately, he sends out of Washington hundreds of billions of dollars more than it takes in.
In other words, Obama promises more in benefits to low- and middle-income Americans than his plan can finance with his tax hikes on "families" making more than $250,000 a year. And note the word, "families." Even though Obama says that no "family" making less than $250,000 a year will see a tax increase, in fact his plan raises taxes on individuals making $200,000 a year or more.
The bottom line is that Obama is not being honest about his tax and spending plans. It is impossible -- impossible! -- for him to finance his giveaways by taxing only those making $250,000 or more. He will have to raise taxes substantially on people making much, much less than that.
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