obama's tax plan

scottyt · #1 (**permalink**) 10-14-2008

well its an interesting read Obama's 95% Illusion - WSJ.com

if its right, i really dont like it, in my mind if you dont pay taxes ie you make so little you get back what you pay out weekly then thats all you should get. not "oh, i payed 3 thousand, and am getting back 4 thousand".

its simple wealth distribution, take from those who make it and give it to those who dont... theft in my mind. as for taxes i am a fan of the fair tax, and i dont think mccains ideas are much if any better.

if the chart on the link is right the low income will be paying much more taxes, as well as the middle class and the rich, butif you around the 100 k mark it stays the same. i dont really understand the dip in the old system around 45 k either, but it just might work out with deductions and stuff.

the tax system in the US is taken directly from the communist manifesto ... progressive taxation. once again the fair tax is too in some ways, ie if you spend more because you made more, you pay more. the saving grace is somebody who makes a mil a year can pay the same tax as somebody who make 30 k a year, infact they would have to be neighbors. just the million dollar guy would have more in the bank, because he could only spend like he made 30 k. also the fair tax gets everyone even those who work under the table to pay taxes

scott

sailaway21 · #2 (**permalink**) 10-14-2008

Scott,
Subsidies to the middle class are always popular. You sell them on the premise that you're going to tax the rich and help the poor working man. The fact that you subsidize the middle class, particularly the upper middle class, while doing absolutely nothing for the poor goes unnoticed.

The tax code disincentivizes certain activities while incentivizing others. Much of the trouble we're in has come from the political notion that everyone should own their own home. Ignored is the fact that we subsidize home ownership. If everyone owned their own home we shouldn't need a subsidy anymore should we? Of course, some wags might question why we subsidize homes that consume a large portion of individual gross income while denying subsidy to those who purchase more modest homes related to income. And the working poor wonder why we subsidize them at all without subsidizing rent. (I'm reminded of this when I realize that my mortgage payment in Michigan would have me renting a hovel of an apartment in places like the NY metropolitan area.)

Once we start down the road to using the tax code as an instrument of social realignment we never stop. What Obama proposes is a return to the convoluted system we'd achieved by the late seventies. Everyone needed a CPA to figure out a way to hang on to what they had.

scottyt · #3 (**permalink**) 10-14-2008

just caught an obama commercial, no new taxes on families making under 250 k, well if the chart is right he is telling a fib.

i really want to know where he is going to come up with all that money, and you cant say tax the rich, even they dont have the money to cover it.

if he gets elected he will be a one termer, all the democrats will just sit there and go, but you said we would get this and that... so where is it?

that is if the birth certificate thing turn out to be bogus, which i just dont know.

Rockter · #4 (**permalink**) 10-14-2008

I quote from the article....

Quote....

"For the Obama Democrats, a tax cut is no longer letting you keep more of what you earn. In their lexicon, a tax cut includes tens of billions of dollars in government handouts that are disguised by the phrase "tax credit." Mr. Obama is proposing to create or expand no fewer than seven such credits for individuals:"

...unquote.

This is a cheap trick learned from Gordon Brown, the bankrupt interferer in the UK. It works like this. You tax like crazy, then you give great lumps of it back to the people that you think will vote for you. On the balance sheet, you claim that what you give back is a "credit", that is "negative taxation". You then claim that taxes have fallen. It is a cheap and dumb trick that fools no-one but the simple minded. In the UK, it's called "the working familiy's tax credit". Everyting seems fine until you try to work your way off welfare. The moment you do, your tax credit gets pulled. Some souls are facing marginal rates of tax that would make you choke. The idea is that they vote for Brown again.

When you look at the real take in taxes, it rises inexorably, and the national debt just rises with it.

Be not fooled, Americans.

cardiacpaul · #5 (**permalink**) 10-14-2008

ok, I'm all for streamlining...
So for all you rich punks, you know, the ones making over 250k... wait, 100k, wait, 45k, oh, hell, more than me...
lets streamline.
cut out the middle man entirely.
send your "credits" to my paypal account....
Wealth, lets spread it around!, its fair, its patriotic, its the democratic way!

painkiller · #6 (**permalink**) 10-14-2008

Quote:

Originally Posted by cardiacpaul

ok, I'm all for streamlining...
So for all you rich punks, you know, the ones making over 250k... wait, 100k, wait, 45k, oh, hell, more than me...
lets streamline.
cut out the middle man entirely.
send your "credits" to my paypal account....
Wealth, lets spread it around!, its fair, its patriotic, its the democratic way!

OK, will do, CP. However, I expect you to give me free healthcare.

cardiacpaul · #7 (**permalink**) 10-14-2008

take 3 valtrex, 4 viagara, 2 hookers and a bottle of cheap booze and call me if you wake up.
MD, mee dockter

ckgreenman · #8 (**permalink**) 10-14-2008

I say screw the current tax laws. Everyone send in 10% regardless if you're poverty stricken and make 10K a year or if you're a multi billion dollar corporation.

10%. no IFs, ANDs or BUTs. No Tax Breaks, no exemptions. what ever you make send in 10%.

chucklesR · #9 (**permalink**) 10-14-2008

We will be subsidizing Child Support payments:
Quote:
An expansion of the earned-income tax credit that would allow single workers to receive as much as $555 a year, up from $175 now, and give these workers up to $1,110 if they are paying child support.
Car payments:
Quote:
A "clean car" tax credit of up to $7,000 on the purchase of certain vehicles.
House payments:
Quote:
A 10% mortgage interest tax credit (on top of the existing mortgage interest deduction and other housing subsidies).

One thought for Obama:
I'm an American "Working Family" Damn it.
Democrats are going to be shocked at how effectively they got out the vote this year, much to their dismay. I know a lot of independents and republicans in Maryland that don't normally vote will be this year.

Personally, I'm not silly enough to read a conservative article and not know it leans it's own way, much the same a Obama's boys, I mean the main stream media push the truth to make look like his crap is rosy.

Since they won't just go away, I'll have to vote or something this year.

cardiacpaul · #10 (**permalink**) 10-14-2008

back in the good old days when I actually "earned" an income, I had to pay income tax on income that went to satans spawn for child support.
She got this income tax free... that sucked