Posted on 09/18/2007 4:45:09 PM PDT by indcons
Just call him Obama Hood. Democratic presidential candidate Barack Obama is announcing a tax plan to take money out of deep pockets and give it back to the working class and seniors in the form of tax breaks. The proposal amounts to more than $80 billion in annual tax cuts.
Obama's campaign said he was set to announce the plan in Washington today as part of a broader push to strenghen his economic platform. Major initiatives would include giving 150 million Americans a $500 tax credit, increasing tax advantages for homeowners, and doing away with income taxes for senior citizens making less than $50,000.
The plan would also make filing so easy that millions of people would be able to complete their returns within minutes.
According to Obama's campaign, the cuts would be funded by getting rid of corporate tax loopholes, and skimming more off capital gains and dividends from tax payers in the top bracket.
However the campaign did not provide details such as how much rates would increase, or how much additional income the government might expect to collect.
"To get through these uncertain times, we have to recognize that we all have a stake in one another's success," Obama said in the text of a spech he will give Tuesday at a Washington hotel. "When folks are hurting out there on Main Street, that's not good for Wall Street. When the changes in our economy are leaving too many people behind, the competitiveness of our country risks falling behind."
And this is news?
Classic Marxism !
Obamahood. Seems like a concept I have heard about before.
Working for a living accomplishes the same thing and it doesn't put you under government control where they can herd us around at will.
The empty suit has re-kindled the 1930’s
socialist plan a complete failure.
“From each according to their ability, to each according to their needs”.
LLS
I’d Love To Change the World
written by Alvin Lee
performed by Ten Years After
...
Tax the rich, feed the poor
‘til there are no rich no more
I’d love to change the world
But I don’t know what to do
So I’ll leave it up to you
I was watching Cudlow and one of the analysts called obamas plan idiotic
Another journalist that never actually read Robin Hood before he wrote his book report.
So far the government provides free housing, free medical care, free schooling and free food to the poor. If they up it so the poor can afford internet and computer, and transportation then I’m going to advise youngsters to just retire after highschool.
Typical Liberal Robin Hood policy... We should not be surprised. But I guess he will appeal to the unwashed masses of welfare whores and leaches.
Oh please, say it isn’t so! I can’t believe that Osamabama is another socialist from the RAT party. Don’t they have any people who aren’t socialists?
Back in the hot summer of 1990, Senate Majority Leader George Mitchell proudly engineered the infamous "luxury tax," a nasty little tithe on everything from furs to jewelry to yachts. Democrats were proud: Not only were they throwing new dollars at the Treasury, they'd done it by socking it to the rich. The wealthy, in the words of then-House Majority Leader Dick Gephardt, would finally pay "their fair share."
Within a year, Mr. Mitchell was back in the Senate passionately demanding an end to the same dreaded luxury tax. The levy had devastated his home state of Maine's boat-building business, throwing yard workers, managers and salesmen out of jobs. The luxury tax was repealed by 1993, though by the look of today's tax debate, its lessons haven't been forgotten. Top Democrats are working to implement a new class-warfare tax strategy, only this time they're getting pushback from those in their party who fear the economic consequences.
http://www.freedomworks.org/newsroom/media_template.php?issue_id=3608
The old class warfare political gambit. The Democrats really need to get a new playbook. It isn't the 1930s anymore.
"To get through these uncertain times, we have to recognize that we all have a stake in one another's success,"
True. If a guy is a success, his money and investments provides jobs. If he hasnt the money to do that, there are no jobs. So its best to leave the successful guy alone.
"When folks are hurting out there on Main Street, that's not good for Wall Street.
True. And when Wall Street is hurting, that's not good for Main Street either.
The luxury tax also doubled the tax on a barrel of beer.
It was never repealed.
If you think that’s surprising, I was reading the other day where low income families would get a $5000 plus payment out of the general fund, before they made purchases under the new flat tax plan.
It’s like this redistribution of wealth thing is hard wired.
There are quite a few cities that already provide free Internet to the “poor” in order to “bridge the digital gap.” Several Dim presidential candidates are already talking about this as a major part of their “Science and Technology” planks.
From each according to their ability to each according to their need.
Why give Seniors more money, there is already a huge wealth transfer with SS and Medicare.
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