Wednesday, October 15, 2008

What is the reality of Obama's tax policy?

This graph accompanied a WSJ editorial outlining Obama's tax policy on Monday.
I hate borrowing from the WSJ to make a point. But since I'm paying for it, why not. Additionally, I don't agree with the WSJ's editorial policy. But look at this graph. It says it all: Obama's tax policy will raise taxes on everyone but people making under $25,000 and $85,000 to $100,000. So folks like me, who barely make ends meet and have kids and make around $50,000, are going to see a pretty big tax increase. So my family will get nailed and the folks who don't pay anything will get more freebies. How is that fair? How is that "change"? That's not change, that's criminal.
Here is the link to the editorial itself: ["Obama's 95% Illusion"]. Read it for yourself. There are some great points in it and, frankly, we should have some of those tax credits. But Obama isn't cutting taxes for 95 percent of Americans. Only 70 percent of Americans pay income taxes. Yes, folks who aren't paying income taxes pay payroll taxes. But that's going into the retirement of everyone. But if you're already not paying income taxes, you shouldn't get more money back. It really is that simple.

Speaking of the WSJ, Thomas Frank has a pretty touching article here about the Bill Ayers "controversy" ["My Friend Bill Ayers"].
Unlike the disturbing ACORN allegations - and voter registration fraud is disturbing - this Ayers stuff seems like a whole lot of nothing. Plus, people deserve to be forgiven for past bad acts, especially after they have served their time and redeemed themselves.

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