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would reinstitute the windfall profits tax, which almost bankrupted the oil industry back in the 1980's. Congress repealed it in 1988 because of that.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


Pages

iVillage Member
Registered: 07-03-2008
Sun, 10-12-2008 - 6:29pm
Seniors didn't use to have to pay tax on their social security, but they most certainly do NOW.
iVillage Member
Registered: 10-12-2008
Sun, 10-12-2008 - 6:30pm
The old Liberal mantra. When in doubt, and when you can't defend your candidate on substance, blame everything on Bush!!! ROFLMAO!!! Why a defense of Obama!!! You guys are a riot!!!
iVillage Member
Registered: 10-08-2008
Sun, 10-12-2008 - 6:31pm

When did that happen?

 

iVillage Member
Registered: 10-12-2008
Sun, 10-12-2008 - 6:33pm
And who implemented that tax? Bill Clinton. Obama wants to raise the amount seniors will pay in social security taxes. It's part of his tax shift plan.
iVillage Member
Registered: 09-25-2008
Sun, 10-12-2008 - 6:34pm

Bottom line, your opinion is not shared by everyone.


Here is the nonpartisan Tax Policy Institute's analysis of both plans:


http://www.taxpolicycenter.org/UploadedPDF/411693_CandidateTaxPlans.pdf


Thank you for referring to Sen Obama by his name.


iVillage Member
Registered: 07-03-2008
Sun, 10-12-2008 - 6:38pm
You wanna make a bet on that? My Dh doesn't even make anywhere near 100,000 a year. We need a break, not someone making 500,000!
iVillage Member
Registered: 09-08-2006
Sun, 10-12-2008 - 6:39pm

 

iVillage Member
Registered: 07-03-2008
Sun, 10-12-2008 - 6:40pm
Nonsense. Simply nonsense. McCain favors the WEALTHY, why wouldn't he? His wifey is worth 100 million dollars! Sheesh!
iVillage Member
Registered: 07-03-2008
Sun, 10-12-2008 - 6:42pm
No, he doesn't. Any Senior Citizen(retired) etc making 50,000 or LESS will NOT have to pay Federal Tax.
iVillage Member
Registered: 10-12-2008
Sun, 10-12-2008 - 6:44pm

Have you even bothered reading any of the articles I've linked to? I doubt that you have. Obama's tax plan is a tax shift. You can read his own words in many of the articles I've linked to. He plans to raise corporate, capital gains, social security, and windfall profits taxes, all of which will impact every American consumer in the form of higher prices for goods and services. You are in the tank for Obama, and you don't want to listen to reason. Obama's policy will cause an economic meltdown.

If Obama's tax plan is soooo great, why does Obama want to keep Bush's tax cuts in place until after the economy recovers? Why not implement his new tax policy right away? Because Obama knows it's not a tax cut. Doesn't that irritate you that Obama wants to keep Bush's tax cuts in place? Doesn't that alone tell you Obama's tax cuts aren't tax cuts after all? It should.

Pages