Obama the tax shifter, not tax cutter

iVillage Member
Registered: 10-12-2008
Obama the tax shifter, not tax cutter
172
Sun, 10-12-2008 - 6:09am

When Ed Rendell became governor of Pennsylvania, he promised tax cuts very similar to what Obama promises. What he gave Pennsylvanians was a tax shift. While he cut the state's income tax, he also raised taxes in other categories to make up the difference in state revenues. What Pennsylvania ended up with was a tax cut con. Pennsylvanians ended up with tax increases instead of a tax cut. Obama is going to do the same thing Rendell has done. Obama will certainly increase other taxes, which means we won't be getting a tax cut, but a tax shift.

The bottom line is this: Whenever a Democrat promises to give you a tax cut, they're actually giving you a tax shift, which overall amounts to a tax increase. It's kind of like political bait and switch. Obama is just a con man.

Why does Obama want to keep the Bush tax cuts if his tax cuts are better?

Obama would reinstitute the windfall profits tax, which almost bankrupted the oil industry back in the 1980's. Congress repealed it in 1988 because of that.

Obama wants to reintroduce the capital gains tax, not quite qt the 28% level previously stated, but somewhere between 20% and 28% according to Obama.

Obama wants to raise social security taxes.

More on Obama's tax cuts and tax increases in general:


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iVillage Member
Registered: 05-06-2007
Tue, 10-14-2008 - 6:39pm

Am I missing something? I'll admit that I'm not the most tax-savvy person around so that may be why I'm confused. :-) As far as I know, under The Taxpayer Relief Act of 1997 you get the first $250,000 tax free ($500,000 if filing jointly).


Chrissy
mom to Aidan 8/21/03
Grayson Blaine 12/30/07

iVillage Member
Registered: 10-07-2003
Thu, 10-16-2008 - 2:18am


<<The onions are an excellent source for Vitamin C.>>


And they also stink so are you implying that John McCain stinks? :-)


I happen to like the smell and taste of onions, but of course I understand that some may not agree.

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