It should always raise suspicion when Democrats, especially liberal ones, begin touting "tax cuts". It's like a saloon owner claiming to endorse prohibition.
The New York Times headline read “Obama Proposes Tax Cuts for Middle Class and Elderly.” The Financial Times headline gave the same impression: “Obama pledges $85bn middle-class tax cuts.” But those headlines are disingenuous.
According to the September 19 New York Times, liberal Democratic presidential hopeful Barack Obama said he would create a tax credit for homeowners who do not itemize their deductions, give a $500 tax credit to workers, and eliminate income taxes for elderly taxpayers who make less than $50,000 a year.
Those acts, totaling $85 billion, sound great, but how’s he going to compensate for these measures and still be able to afford all the entitlements in his platform?
2 comments:
Did Obama mention his tax cuts for the elderly will be needed to offset the PAY CUT he wants to give them.
What?!? Pay cuts?!?
Most seasoned citizens who saved during their working years live on fixed income, much of which is derived from already double-taxed dividends. This income will get double-taxed at even a higher rate by the Hil-Obamb. Ergo, PAY CUT FOR GRANDMA!
When will the main steam media report the truth that tax hikes are basically a pay-cut for the elderly? Never. It's up to the thinkers in America to do the real reporting.
The three things I fear in 08, Obama, Osama, and Chelsea's mamma.
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