Truth about taxes…room for the middle class at the poor house

From the New York Post today OBAMA TELLS THE TAX TRUTH (below):

Original source story here.  Emphasis in red is mine.

By the way, as regards the checks from Washington sited below – where I live, that’s called welfare.  I am insulted to think that anyone wants to suggest I can’t make it without government welfare.  I am appalled to realize that Obama will tax me to the point that I would qualify for welfare. 

As has been the case for most tax cuts/deductions/incentives from any candidate that has come along in recent years, I don’t qualify for any of ’em.   I don’t have children, so the dependents, child care, college tax cuts don’t go to me.  I don’t fall into that married category so the marriage tax benefits don’t apply to me.  I don’t have enough money to be able to invest and receive capital gains – so that’s out.  I just keep getting taxed more at the local, state and federal level.   I pay to educate other people’s children.  I pay to fund art museums and symphonies I don’t go to.  I pay for parks I don’t visit.  I pay for other people’s mortgages.  I pay for other people’s defaulted loans and credit cards.  I pay to support causes and countries that I am diametrically opposed to and, in some cases, find offensive.

I can’t invest in my own retirement because I am paying for someone else’s.  I pay for someone else’s food, even if it means I have to cut back on my own groceries.

I pay for AIGs spa retreats, even though I can’t afford to go on vacation.

Obama is going to make sure he taxes me into the welfare state.  This is not the America most of us thought we would be living in.

 

OBAMA TELLS THE TAX TRUTH

October 15, 2008

An unscripted moment with an Ohio plumber produced a startling confession from Barack Obama Sunday: The Democrat’s “middle-class tax cut” is in fact a scheme to “spread the wealth around.”

Obama dropped the mask long enough to tell the truth to Toledo plumber Joe Wurzelbacher – who had asked the Democratic nominee why he wanted to jack up his taxes just for “fulfilling the American dream.”

“I’m getting ready to buy a company that makes $250,000 to $280,000 a year,” Wurzelbacher had told Obama. “Your new tax plan is going to tax me more, isn’t it?”

“It’s not that I want to punish your success,” Obama replied. “I just want to make sure that everybody who is behind you, that they’ve got a chance for success, too . . . When you spread the wealth around, it’s good for everybody.”

At last! The truth outs!

Obama’s plan isn’t about sinking hooks into Wall Street CEOs and other fat cats, as he usually says. Fact is, there’s not enough of them to raise the cash necessary to finance his other grand plans.

No, to do that, he’ll have to go after ambitious working-class guys like Wurzelbacher – who’s been a plumber for 15 years and is looking to better himself and his family while just maybe creating a few jobs.

The American Dream?

Wurzelbacher personifies it – but Barack Obama seems determined to tax it to death and be done with it, period.

That’s been the case all along, of course. What’s different is that the Democrat finally said so.

Heretofore, Obama has sought to paint himself as a tax-cutter claiming he’ll slash taxes for 95 percent of Americans.

As we noted yesterday, that’s a flat-out lie – not least because nearly half of all tax filers pay no income tax at all. So how can he “cut” their taxes if they don’t pay any to begin with?

Answer: tax “credits.”

To wit, in part:

* A $1,000 “make work pay” credit.

* A $4,000 college-tuition credit.

* A $6,000 child-care credit.

* A $1,100 bump in the earned-income tax credit.

These aren’t to be income-tax deductions – which would be worthless to those who pay no income taxes.

These are to be checks from Washington – with the subsidies expected to grow to more than $1 trillion in 10 years.

That’s a massive transfer of wealth.

How does Obama justify it?

“Fairness,” he says.

But that’s an absurdly radical view of what’s “fair.”

Remember, Obama’s tax hikes target folks who already bear the brunt of the burden: The top 20 percent of earners already pay 69 percent of all federal taxes – and 88 percent of income taxes.

(Contrast that with John McCain’s call yesterday for real tax cuts – halving the capital-gains levy, scrapping taxes on unemployment benefits altogether – designed to prime the economic pump.)

Monday, Obama promised a tax policy that would restore “a sense of fairness and balance that will give every American a fair shot at the American dream.”

But just a day before, he told Joe Wurzelbacher the truth: No American dream for you, buddy!

Nor anybody else, it seems.

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Filed under Duct tape zone, In the news, Issues, Media, Politicians, Taxes

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