Obama the tax shifter, not tax cutter
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| 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Obama would reinstitute the windfall profits tax, which almost bankrupted the oil industry back in the 1980's. Congress repealed it in 1988 because of that.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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Would you like to tell me what year the Great Depression hit and what year FDR became President and when the New Deal programs were established?
You will see for yourself that the New Deal did not start the Great Depression no matter what the book says, although I believe the book says no such thing.
Hello....Obama told you that himself he wants to institute a social healthcare...in a debate with McCaine!!!
I think you do not understand what it meant either...ask someone other to explain to you...someone who lived in another country where there is a socialist healthcare......
I do understand very well what Obama said about healthcare and other issues.
My grandmother did not pay taxes on her Social Security nor money market accounts.
I think taxes work differently than what you said about 60% not needed the tax break...
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