Attn: All Small Business Owners and Working Americans!!
By Larry Doyle on October 29, 2008 at 3:30 PM in Barack Obama, Current Affairs, Economy, Joe Biden
In regard to Barack Obama’s tax plans, does Barack draw the line of demarcation at 250k, 150k, 100k?? Come on, it’s only money!! Barack’s approach to his tax program reminds us of the question, “How do you know when Barack Obama isn’t telling you the truth???” … “When his lips move!”
In light of that, we all owe a debt of gratitude to Joe Biden for truly telling us what is going on within the Obama plans and the Democratic platform. Way to go, Joe. He has enlightened us time and time again about the implications for an Obama administration. Sounds like we better be ready to be tested in the international arena. Now he has added another “rhetorical flourish” and lets slip the fact that all those “wealthy” people and small businesses making 150k or above won’t be getting any of that redistribution.
Now wait a second, for the entirety of Obama’s campaign we have heard that 95% of our population would be receiving a tax cut. Barack has ALWAYS highlighted that percentage and further highlighted that for those filing jointly that that line is drawn at 250k while for those filing individually it is drawn at 200k.
Now our “friend” Joe lets us in on the joke that it is really 150k. The WSJ offers their opinion on this “moving” target.
Well, will families making less than $250,000 get a tax cut under President Obama, or not? Senator Obama has been saying this for months, but on Monday Joe Biden put the tax-cut income threshold at $150,000 in an interview with a TV station in his beloved Scranton, Pennsylvania. The Biden campaign later clarified — or at least tried to clarify — the matter by saying that anyone making between $150,000 and $250,000 wouldn’t get a tax cut but also wouldn’t pay higher taxes.
We suspect what’s going on here is more than Mr. Biden’s normal gift of gaffe. As with his admission that a President Obama would quickly be tested by our enemies, the Delaware rambler was stumbling into the truth. An Obama Administration couldn’t possibly pay for a tax cut for 95% of Americans by raising taxes on a mere 5%. Those 5% don’t make enough money, or at least they won’t after they find ways to shelter more of their income when their tax rates rise.
Just as Bill Clinton promised a “middle-class tax cut” in 1992 only to raise taxes on the middle class in 1993, Mr. Obama will quickly find that his tax-revenue math doesn’t add up. …
Do you feel that hand in your back pocket?? Yep, that’s Barack. He won’t tell you but what he’s doing is effectively saying, “I’ll take that because I need to redistribute it over here.”
Are you starting to get a little confused?? You know that when you’re not sure who is getting hustled, it is more than likely that you’re the pawn.
Well, how about if we just check the facts and see where the income lines are drawn for that top 5%. Does anybody have a problem with us using that massively biased database provided by the U.S. Census Bureau?
So, let’s see: For calendar 2006, the top 5% of households/small businesses made 166k or more. Upon further review of individuals, the top 5.6% made 100k. Now, as John McCain shared with us yesterday, “Do you see where the Democrats are going with this?”
Now Barack is doing the backstroke!!!
He now indicates that those households/small businesses making between 150k and 250k won’t see higher taxes but won’t receive any tax cuts. So, just who will pay these higher taxes?? Yep, we’re all counting on that top 1.5% of households/small businesses to pick up Barack’s tax bill. It’s very decent of them to pick up that tab especially given that they already pay 40% of the current tax burden. Think that works for them?? Maybe not.
Now just a second here. If the top 5% of individuals make 100k or more, do they get a tax cut? It is that they not get a tax cut but that they won’t have to pay higher taxes?? In most parts of this country, making 100k does not exactly get you to easy street. Actually, making 100k feels a lot like the middle class to me.
While I have you, let me continue with this: If BO is proposing that households making 250k (or was that 150k?) will be stuck with the tax bill and that individuals making 200k (or was that 100k) will also pay higher taxes, did he effectively just implement a penalty on married couples as well? It sounds like it to me. If you and your fiance both make 99k, I can hear it now: “Honey, why don’t we put off getting married and just live together so we can save on our taxes!” What an ingenious way of dissuading the growth of families in America or actually persuading people to have children out of wedlock.
Additionally, did Barack factor into his plan the difference in cost of living throughout this great land? If I make 200k living in a suburb of NYC and am trying to run a business and then support a wife and three kids, will my wealth be “redistributed” to somebody making 140k in Des Moines? Isn’t that individual in Des Moines actually doing “better” than the individual in NYC??
See, let’s go back to the original premise. When his lips move…yep, that’s right. Don’t trust a hustler. It’s the same sort of scenario in his approach to campaign finance.
Let’s fast forward. We can all see it now. Barack will let us know that he was “well intended” in his plans, but that when it came down to it, he could only get so much from that top 1.5% and he needed a little more to “redistribute”. Yep, everybody who pays taxes is just going to have to suck it up and pay more to those who don’t.
Thanks Joe … you’re the best!! Actually, while we owe a debt of gratitude to Mr. Biden, we also truly do need to thank “Joe the Plumber” for bringing this into focus in the first place.



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