Obama fudges the numbers


Why am I not surprised.
Never mind that a progressive tax system is socialistic by it.s very nature (read your Marx). Never mind that it undermines the uniform rule of law.

Let's assume for the moment that there might actually be some good that could come out of Obama's tax plan.

So why can't he be honest about it? Emphasis added.

Obama claims that his plan would only hurt 3% of small businesses. But this is highly deceptive. He isn’t lying, but the reports that he cites mean something very specific. They do not mean that 97% of small businesses won’t see higher taxes under Obama’s plan than they see today. Nor do they mean that these businesses would not see higher taxes under Obama’s plan than under McCain’s plan. All the statistic means when is that most businesses would not see higher taxes under Obama’s plan than they would see if the Bush Tax Cuts expire as they are scheduled to do in 2011, absent any new vote on them.

So, the statistic just means Obama’s plan isn’t an even bigger tax hike for most businesses than one which we can choose to introduce in 2011 by not renewing the current tax levels.

But Obama implies that he is extending enough of the Bush Tax Cuts that compared to them, he would not be raising taxes on 97% of business.But this isn’t the case. About 35% of small businesses would likely see a tax hike under Obama’s plan compared to the rates they face today. Comparing the Obama plan with the Bush tax cuts that are currently in place, those small businesses with incomes in the top quintile and especially in the top 5% had higher average marginal rates. A disproportionate number of businesses fall into that category. For those few at the very top, the rates would be even more punitive.

It's a page from the old Democrat playbook. Your money isn't yours until the Democrat politicos have given it to you.

Not that the Republicans are much better these days.

Forget the rebate or the stimulus or whatever it is being called these days. Lower taxes and don't put in a sunset clause.

— NeoWayland

Posted: Wed - October 22, 2008 at 02:08 PM  Tag


 ◊  ◊   ◊  ◊ 

Random selections from NeoWayland's library


Pagan Vigil "Because LIBERTY demands more than just black or white"
© 2005 - 2009 All Rights Reserved