‘barack obama’ Tagged Posts

Is Obama Disigenuous?

http://www.theaustralian.news.com.au/story/0,25197,23643866-5013948,00.html The illusion that is Barack Obama * Font Size: Decrease Increa...

 

http://www.theaustralian.news.com.au/story/0,25197,23643866-5013948,00.html

The illusion that is Barack Obama

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Fred Siegel | May 05, 2008

POLITICAL campaigning necessarily produces a wide gap between words and deeds. This is the price of bringing together a broad coalition with disparate interests. All effective politicians are at times authentically insincere or sincerely inauthentic. Exaggeration, embellishment, overstatement, doubletalk, deception and lies presented as metaphorical truths are the order of the day.

So, of course, Barack Obama is no different. He exaggerates the credit he deserves for a limited piece of ethics-reform legislation. He embellishes when he presents himself as having had a consistent record on the Iraq war when in fact he’s done a fair amount of zigzagging.

He engages in doubletalk when, on free trade and Iraq, he tells the yokels one thing and the policy people another. He overstates when he presents his minimal accomplishments in the Illinois Senate as proof of his stature. He engages in systematic deception when he says he doesn’t take money from lobbyists.

He presents a lie as metaphorical truth when he says it was the 1965 bloody Sunday attacks on peaceful civil rights protesters in Selma, Alabama, that inspired his parents to marry. (They had been married for years already.)

All of this is unappealing, but also unexceptional. What makes it different is that there’s not just a gap but a chasm between his actions and his professed principles, which would normally kill a candidacy. And because his deeds are so few, the disparity is all the more salient.

Obama, far more than the others, is the "judge me by what I say and not what I do" candidate. He wants to be the conscience of the country without necessarily having one himself.

The disparity between Obama’s rhetoric of transcendence and his conventional Chicago racial and patronage politics is a leitmotiv of his political career. In New York, politicians (Al Sharpton excepted) are usually forced to pay at least passing tribute to universal principles and the ideal of clean government.

But Chicago, until recently a city of Lithuanians, blacks and Poles governed by Irishmen on the patronage model of the Italian Christian Democrats, is the city of political and cultural tribalism.

Blacks adapted to the tribalism and the corrupt patronage politics that accompanied it. Historically, one of the ironies of Chicago politics is that the clean-government candidates have been the most racist, while those most open to black aspirations have been the most corrupt. When the young Jesse Jackson received his first audience with then mayor Richard Daley Sr – impervious to the universalism of the civil rights movement in its glory – offered him a job as a toll-taker. Jackson thought the offer demeaning but in time adapted.

In Chicago, racial reform has meant that the incumbent mayor, Richard M. Daley, has been cutting blacks in on the loot. Louis Farrakhan, Jackson, Jeremiah Wright and Obama are all, in part, the expression of that politics. It hasn’t always worked for Chicago, which, under the pressure of increasing taxes to pay for bloated government, is losing its middle class. But it has served the city’s political class admirably.

For all his Camelot-like rhetoric, Obama is a product, in significant measure, of the political culture that Chicago Tribune columnist John Kass described: "We’ve had our chief of detectives sent to prison for running the Outfit’s (the mob’s) jewellery-heist ring. And we’ve had white guys with Outfit connections get 0 million in affirmative action contracts from their drinking buddy, Mayor Richard Daley … That’s the Chicago way."

At no point did Obama, the would-be saviour of US politics, challenge this corruption, except for face-saving gestures as a legislator. He was, in his own Harvard law way, a product of it.

Why, you may ask, did the operators of Chicago’s political machine support Obama? Part of the answer was given long ago by the then boss of Chicago, Jake Arvey.

When asked why he made Adlai Stevenson – a man, as with Obama, more famous for speeches than for accomplishments – his party’s gubernatorial candidate in 1948, Arvey is said to have replied that he needed to "perfume the ticket".

Obama first played a perfuming role as a state senator. His mentor, Emil Jones, the machine-made president of the Senate, allowed him to sponsor a minor ethics bill. In return, Obama made sure to send plenty of pork to Jones’s district. When asked about pork-barrel spending, Jones famously replied: "Some call it pork; I call it steak."

Obama repaid the generosity. When he had a chance to back clean Democratic candidates for president of the Cook County board of supervisors and Illinois governor, he stayed with the allies of the Outfit. The gubernatorial candidate he backed, Rod Blagojevich, is under federal investigation, in part because of his relationship with Tony Rezko, the man who helped Obama buy his house.

The Chicago way has delivered politically for Obama even this year. Ninety per cent of his popular-vote lead over Hillary Clinton comes from Illinois, and two-thirds of that 90 per cent comes just from Cook County.

Some of this advantage came from the efforts of Obama’s political ally, the flame-throwing reverend James Meeks, a political force in his own right. Meeks, who mocks black moderates as "niggers", is an Illinois state senator, the pastor of a mega-church and a strong supporter of Jackson’s powerful political operation, which has put its vote-pulling muscle squarely behind the Obama campaign. It was only with Obama’s remark about bitter, white, working-class, small-town voters that we saw his difficulties appealing beyond the machine’s reach. He won his US Senate race in 2004 not only because his opponents self-destructed but also because of the machine’s ability to deliver votes.

In Pennsylvania, he has lacked such assistance and the campaigning has not gone nearly so well. First, Obama pretended to be a tenpin bowler and scored a 37. Then, appearing before a supposedly closed San Francisco audience, he complained that small-town Pennsylvanians "cling to guns or religion or antipathy towards people who aren’t like them, or anti-immigrant sentiment or anti-trade sentiment, as a way to explain their frustrations". This is the man who belongs to a church built on bitterness, rancour and conspiratorial fear. During the Wright affair, Obama not only repeatedly lied about what he knew and when but violated the spirit of the civil rights movement in its mid-1960s glory.

When, as a young man, I was on the periphery of the movement, there was an unwritten rule that if people told racist jokes or speakers engaged in defamatory rhetoric, you needed to register your immediate disapproval by confronting the speaker or ostentatiously walking out.

Wright’s "black theology" is essentially a Christianised version of Malcolm X’s ideology of hate.

But for 20 years, Obama, who had planned to run for mayor of Chicago, kept silent about the close, if at times competitive, relationship between Wright, whose 8000-member mega-church gave him his political base, and Farrakhan. His ambition overrode his moral integrity.

As part of his "black value system", Wright attacked whites for their "middle classism", materialism, and "greed in a world of need". Obama sounded similar notes in his recent address at the Cooper Union for the Advancement of Science and Art in New York, in which he laid the blame for the sub-prime mortgage crisis on those who had "embraced an ethic of greed, corner cutting and inside dealing".

But that’s exactly what Obama did in buying his luxurious house. Given the choice of purchasing a less expensive home or getting into bed with his fundraiser-cum-slumlord-cum-fixer Rezko, Obama chose the latter. Then again, the oppressed of Trinity United Church of Christ are building Wright a $US1.6 million (.7million), 960sqm home complete with four-car garage, whirlpool and butler’s pantry. This house, which backs on to a golf course, is to sit in Tinley Park, a gated community in southwest Chicago that is 93 per cent white.

The Obamas’ charitable giving is consistent with Wright’s talking Left while living Right. Obama and his wife are quite well off. They had an estimated income of $US1.2 million from 2000 to 2004. But the man who preaches compassion and mutuality gave all of 1 per cent of that income to charity during those years. Most of that went to Wright’s church.

There is a similar chasm when it comes to Obama’s claim to post-partisanship. His achievements in reaching out to moderate voters are largely proleptic. But words are not deeds and, although Obama has few concrete achievements to his name, his voting record hardly suggests an ability to rise above Left v Right.

In the Illinois Senate, he made a specialty of voting present, but after his first two years in the US Senate, National Journal’s analysis of rollcall votes found that he was more liberal than 86 per cent of his colleagues. His voting record has only moved further Left since then. The liberal Americans for Democratic Action gives him a 97.5 per cent rating, while National Journal ranks him the most liberal member of the Senate. By comparison, Clinton, who occasionally votes with the Republicans, ranks 16th.

Obama is such a down-the-line partisan that, according to Congressional Quarterly, in the past two years he has voted with the Democrats more often than did the party’s majority leader, Harry Reid.

Likewise, for all his talk of post-racialism, Obama has played, with the contrivance of the press, traditional South Side Chicago racial politics. The day after his surprise loss in New Hampshire, and in anticipation of the South Carolina primary, with its heavily black electorate, South Side congressman Jesse Jackson Jr – Obama’s national co-chairman – appeared on MSNBC to argue, in a prepared statement, that Clinton’s teary moment on the campaign trail reflected her deep-seated racism.

"Those tears," said Jackson, "have to be analysed … They have to be looked at very, very carefully in light of Katrina, in light of other things that Mrs Clinton did not cry for, particularly as we head to South Carolina, where 45 per cent of African-Americans will participate in the Democratic contest … We saw tears in response to her appearance, so that her appearance brought her to tears, but not hurricane Katrina, not other issues."

In other words, whites who are at odds with, or who haven’t delivered for, Chicago politicians can be obliquely accused of racism on the flimsiest basis, but pillars of local black politics such as Wright, with his exclusivist racial theology, are beyond criticism.

Liberals love Obama’s talk of taking on powerful financial interests. But here , too, he is rather slippery. In his Cooper Union speech, he denounced in no uncertain terms the "special interests" of people on Wall Street (who are well represented among his campaign donors).

He, of course, had an opportunity to push for repealing the privileged tax treatment of private equity firms when that question was before Charles Grassley’s Senate subcommittee – but he simply made a pro-forma statement in favour of doing so and disappeared.

Nationally, as in Chicago, Obama the self-styled reformer never crosses swords with any of his putative foes. To pick another example, he has attacked "predatory" sub-prime lenders while taking roughly $US1.3 million in contributions from companies in that line of business.

Obama is the internationalist opposed to free trade. He is the friend of race-baiters who thinks Don Imus deserved to be fired. He is the proponent of courage in the face of powerful interests who lacked the courage to break with Wright (until Wednesday). He is the man who would lead our efforts against terrorism yet was friendly with Bill Ayers, the unrepentant 1960s terrorist. He is the post-racialist supporter of affirmative action. He is the enemy of Big Oil who takes money from executives at Exxon-Mobil, Shell and British Petroleum.

Obama has, in a sense, represented a new version of the invisible man, a candidate whose colour obscures his failings.

But so far, the wild discrepancy between Obama’s words and his deeds, and between his enormous ambitions and his minimal accomplishments, doesn’t seem to have fazed his core supporters, who apparently suffer from a severe case of cognitive dissonance. Like cultists who rededicate themselves when the cult’s prophecies have been falsified, his fans redouble their delusions in the face of his obvious hypocrisy.

That is because Obama, in the imagination of many of his fans in the public and the press, is both a deduction from what was – the failures of the Bush administration and the scandals of the Clintons – and an expression of what should be.

The ideal, the aspiration, is so rhetorically appealing that it has been assumed to be true. They remind one of Woodrow Wilson’s answer when asked if his plan for a League of Nations was practicable: "If it won’t work, it must be made to work."

Fred Siegel is a contributing editor of City Journal. He teaches at the Cooper Union for the Advancement of Science and Art.

What do people think about this? Seems to be a good collection of McCain and Obama stances on various issues?

 

It’s pretty long…but substantial. Please take the time to read all of it.

Energy:

In an effort to force our nation to increase its reliance on alternative or renewable energy sources, it has been thought of to increase the taxes on fossil fuels. However, this will help rise the tax price which will trickle down and be passed to the customer.
Obama wants to increase taxes of fossil fuels.
McCain is opposed.
62% of Americans are opposed.
35% support.

Some people want to begin drilling in ANWR. What isn’t well known is that the drilling would only cover 2,000 acres of 19 million. This would provide energy while we work on new ways that will eventually replace oil.
Obama says no to drilling.
McCain says yes.
55% of Americans say yes to drilling.
35% say no to drilling.

There is the option to drill for oil and natural gas in the U.S. waters, just offshore.
Obama says no to drilling.
McCain says yes.
73% of Americans say yes to drilling offshore.
27% say no.

Barack Obama has plans to implement sweeping environmental regulations. These regulations are thought to eventually raise the cost of gas, groceries, heating and air conditioning.
McCain is against Obama’s plan.
49% of Americans are also against it.
32% agree with Obama’s plan.

The US currently adds a tariff of 54 cents on each gallon of imported ethanol from countries like Brazil in an effort to protect American companies producing ethanol from corn. The tariff is passed on to the consumer in the form of higher fuel prices.
Obama believes this tariff should continue.
McCain believes it should be eliminated.
62% of Americans think it should be eliminated.
30% think it should continue.

There are 104 nuclear reactors in the US today that produce 20% of America’s energy needs and no accident has occurred at these reactors in 30 years. Other nations, such as France, are far more reliant on nuclear power, as 77% of that nation’s electricity comes from nuclear sources.
Obama wants to eliminate all sources of power from nuclear reactors.
82% of Americans disagree with him.
12% agree with him

Taxes:

An increase in the tax that stock holders pay on returns from 15% to nearly 40%.
Obama is in favor of this.
McCain is opposed.
66% of Americans are opposed
25% are in favor.

Increasing the death tax rate to 55% for any income past the first million.
Obama is in favor of this.
McCain is opposed.
53% of Americans oppose.
37% are in favor.

Raising the top tax rate on the self-employed from 37.9% to 54.9%
Obama is in favor of this.
McCain is opposed.
85% of Americans are opposed
10.5% are in favor.

America’s 3.7 million Sub Chapter S corporations, which are small companies with less than 75 stock holders, are currently taxed at a rate of 35%. So what about increasing the tax rate on these businesses over 15% to total of 50.3%?
Obama is in favor of this.
McCain is opposed.
85.4% of Americans are opposed.
9% are in favor.

How much should Americans who earn million per year pay in federal income taxes?
Obama says: More than 35%
52% of Americans say: Less than 35%
33% agree with Obama.

How much should someone who wins million dollars in the lottery pay in federal income?
Obama says: More than 35%
67.5% of Americans say: Less than 35%
22% agree with Obama

which of the following top individual tax rates, which combine income and social security, do you think is most fair?
28% under Reagan?
38% under Clinton?
55% under would-be Obama?
60% under Hoover?
70% under Johnson and Carter?
Well, only 12% of Americans want the tax rates that Obama offers.

According to the Tax Policy Center, Barack Obama’s tax plans would cost the U.S federal government nearly 0 billion in his first term, and increase the national debt by .3 trillion over ten years.
McCain is against Obama’s plan.
51% of Americans are against Obama’s plan.
33% agree with Obama’s plan.

Some say Obama’s proposed increase in deductions for taxpayers would increase the number of those who don’t pay taxes closer to 40%.
McCain is against Obama’s plan.
48% of American’s are against Obama’s plan.
33% agree with Obama’s plan.

Barack Obama says, if elected, he will follow through on his plan to raise taxes on businesses and the wealthy. When asked what might be a result, people responded thusly:
55.5% of Americans said there would be an increase of prices and goods.
20% feel as though companies would lay off more employees.
Obama, along with 5% of Americans believe that companies will pay the increase in taxes out of their own profits!

When asked: “Do you think that Barack Obama’s plan to increase taxes on businesses and the wealthy will make you better off or worse off?” People responded thusly:
35% agreed with Obama and feels as though they will be better off.
52% said they think they will be worse off.

Second Amendment:

When asked: “Do you agree or disagree that American firearm ma

What or who did obama donate $3500 in 2004, 05 and 06 to?

 

Looking over barack obama’s tax returns I noticed that he had made donations to a non-profit organization in the years of 2004-2006. I can’t figure out what organization it is that he is donating too. Is NAMBLA a church of some kind? A homeless shelter or environmental group? The reason we were studying is because he has no deductions for his college student loan. Michelle had her college paid for because of he skin color and obviously not because of her grades. Also there is a man, name escapes me, who claims to have paid for obama’s college. I guess both obama’s misspoke when they tried to claim that they had "just finished paying off our student loans" but I don’t really care about that. So who or what is NAMBLA and why is barack donating money to them?

I realize its obamas money and he can donate to anyone, or any group that he wants, I am just curious. Any help would be appreciated as I am trying to help my business partners daughter with picking a topic for a college English class’ essay.

Standford Professor of Economics says Obama’s plan will hurt us, thoughts?

 

Obamanomics Is a Recipe for Recession
By MICHAEL J. BOSKIN WSJ
October 16th, 2008

What if I told you that a prominent global political figure in recent months has proposed: abrogating key features of his government’s contracts with energy companies; unilaterally renegotiating his country’s international economic treaties; dramatically raising marginal tax rates on the "rich" to levels not seen in his country in three decades (which would make them among the highest in the world); and changing his country’s social insurance system into explicit welfare by severing the link between taxes and benefits?

AP
The first name that came to mind would probably not be Barack Obama, possibly our nation’s next president. Yet despite his obvious general intelligence, and uplifting and motivational eloquence, Sen. Obama reveals this startling economic illiteracy in his policy proposals and economic pronouncements. From the property rights and rule of (contract) law foundations of a successful market economy to the specifics of tax, spending, energy, regulatory and trade policy, if the proposals espoused by candidate Obama ever became law, the American economy would suffer a serious setback.

To be sure, Mr. Obama has been clouding these positions as he heads into the general election and, once elected, presidents sometimes see the world differently than when they are running. Some cite Bill Clinton’s move to the economic policy center following his Hillary health-care and 1994 Congressional election debacles as a possible Obama model. But candidate Obama starts much further left on spending, taxes, trade and regulation than candidate Clinton. A move as large as Mr. Clinton’s toward the center would still leave Mr. Obama on the economic left.

Also, by 1995 the country had a Republican Congress to limit President Clinton’s big government agenda, whereas most political pundits predict strengthened Democratic majorities in both Houses in 2009. Because newly elected presidents usually try to implement the policies they campaigned on, Mr. Obama’s proposals are worth exploring in some depth. I’ll discuss taxes and trade, although the story on his other proposals is similar.

First, taxes. The table nearby demonstrates what could happen to marginal tax rates in an Obama administration. Mr. Obama would raise the top marginal rates on earnings, dividends and capital gains passed in 2001 and 2003, and phase out itemized deductions for high income taxpayers. He would uncap Social Security taxes, which currently are levied on the first 2,000 of earnings. The result is a remarkable reduction in work incentives for our most economically productive citizens.

The top 35% marginal income tax rate rises to 39.6%; adding the state income tax, the Medicare tax, the effect of the deduction phase-out and Mr. Obama’s new Social Security tax (of up to 12.4%) increases the total combined marginal tax rate on additional labor earnings (or small business income) from 44.6% to a whopping 62.8%. People respond to what they get to keep after tax, which the Obama plan reduces from 55.4 cents on the dollar to 37.2 cents — a reduction of one-third in the after-tax wage!

Despite the rhetoric, that’s not just on "rich" individuals. It’s also on a lot of small businesses and two-earner middle-aged middle-class couples in their peak earnings years in high cost-of-living areas. (His large increase in energy taxes, not documented here, would disproportionately harm low-income Americans. And, while he says he will not raise taxes on the middle class, he’ll need many more tax hikes to pay for his big increase in spending.)

On dividends the story is about as bad, with rates rising from 50.4% to 65.6%, and after-tax returns falling over 30%. Even a small response of work and investment to these lower returns means such tax rates, sooner or later, would seriously damage the economy.

On economic policy, the president proposes and Congress disposes, so presidents often wind up getting the favorite policy of powerful senators or congressmen. Thus, while Mr. Obama also proposes an alternative minimum tax (AMT) patch, he could instead wind up with the permanent abolition plan for the AMT proposed by the Ways and Means Committee Chairman Charlie Rangel (D., N.Y.) — a 4.6% additional hike in the marginal rate with no deductibility of state income taxes. Marginal tax rates would then approach 70%, levels not seen since the 1970s and among the highest in the world. The after-tax return to work — the take-home wage for more time or effort — would be cut by more than 40%.

Now trade. In the primaries, Sen. Obama was famously protectionist, claiming he would rip up and renegotiate the North American Free Trade Agreement (Nafta). Since its passage (for which former President Bill Clinton ran a brave anchor leg, given opposition to trade liberalization in his party), Nafta has risen to almost mythological proportions as a metaphor f

Economics Professor says Obama’s plan will further hurt the US, thoughts?

 

Obamanomics Is a Recipe for Recession
By MICHAEL J. BOSKIN WSJ
October 16, 2008

What if I told you that a prominent global political figure in recent months has proposed: abrogating key features of his government’s contracts with energy companies; unilaterally renegotiating his country’s international economic treaties; dramatically raising marginal tax rates on the "rich" to levels not seen in his country in three decades (which would make them among the highest in the world); and changing his country’s social insurance system into explicit welfare by severing the link between taxes and benefits?

AP
The first name that came to mind would probably not be Barack Obama, possibly our nation’s next president. Yet despite his obvious general intelligence, and uplifting and motivational eloquence, Sen. Obama reveals this startling economic illiteracy in his policy proposals and economic pronouncements. From the property rights and rule of (contract) law foundations of a successful market economy to the specifics of tax, spending, energy, regulatory and trade policy, if the proposals espoused by candidate Obama ever became law, the American economy would suffer a serious setback.

To be sure, Mr. Obama has been clouding these positions as he heads into the general election and, once elected, presidents sometimes see the world differently than when they are running. Some cite Bill Clinton’s move to the economic policy center following his Hillary health-care and 1994 Congressional election debacles as a possible Obama model. But candidate Obama starts much further left on spending, taxes, trade and regulation than candidate Clinton. A move as large as Mr. Clinton’s toward the center would still leave Mr. Obama on the economic left.

Also, by 1995 the country had a Republican Congress to limit President Clinton’s big government agenda, whereas most political pundits predict strengthened Democratic majorities in both Houses in 2009. Because newly elected presidents usually try to implement the policies they campaigned on, Mr. Obama’s proposals are worth exploring in some depth. I’ll discuss taxes and trade, although the story on his other proposals is similar.

First, taxes. The table nearby demonstrates what could happen to marginal tax rates in an Obama administration. Mr. Obama would raise the top marginal rates on earnings, dividends and capital gains passed in 2001 and 2003, and phase out itemized deductions for high income taxpayers. He would uncap Social Security taxes, which currently are levied on the first 2,000 of earnings. The result is a remarkable reduction in work incentives for our most economically productive citizens.

The top 35% marginal income tax rate rises to 39.6%; adding the state income tax, the Medicare tax, the effect of the deduction phase-out and Mr. Obama’s new Social Security tax (of up to 12.4%) increases the total combined marginal tax rate on additional labor earnings (or small business income) from 44.6% to a whopping 62.8%. People respond to what they get to keep after tax, which the Obama plan reduces from 55.4 cents on the dollar to 37.2 cents — a reduction of one-third in the after-tax wage!

Despite the rhetoric, that’s not just on "rich" individuals. It’s also on a lot of small businesses and two-earner middle-aged middle-class couples in their peak earnings years in high cost-of-living areas. (His large increase in energy taxes, not documented here, would disproportionately harm low-income Americans. And, while he says he will not raise taxes on the middle class, he’ll need many more tax hikes to pay for his big increase in spending.)

On dividends the story is about as bad, with rates rising from 50.4% to 65.6%, and after-tax returns falling over 30%. Even a small response of work and investment to these lower returns means such tax rates, sooner or later, would seriously damage the economy.

On economic policy, the president proposes and Congress disposes, so presidents often wind up getting the favorite policy of powerful senators or congressmen. Thus, while Mr. Obama also proposes an alternative minimum tax (AMT) patch, he could instead wind up with the permanent abolition plan for the AMT proposed by the Ways and Means Committee Chairman Charlie Rangel (D., N.Y.) — a 4.6% additional hike in the marginal rate with no deductibility of state income taxes. Marginal tax rates would then approach 70%, levels not seen since the 1970s and among the highest in the world. The after-tax return to work — the take-home wage for more time or effort — would be cut by more than 40%.

Now trade. In the primaries, Sen. Obama was famously protectionist, claiming he would rip up and renegotiate the North American Free Trade Agreement (Nafta). Since its passage (for which former President Bill Clinton ran a brave anchor leg, given opposition to trade liberalization in his party), Nafta has risen to almost mythological proportions as a metaphor for

Why did Barack Obama adopt McCain's approach health care?

 

I have to be honest, though, while Pres. Obama adopted the meat of McCain’s proposal, he sure made it less inclusive and more regressive. Being some DINO Mr Obama proves to us once again.

John McCain proposed 00 tax credit to EVERYONE for purchasing health care.
If you are wealthy and in the 38% tax bracket that would give you 00/38% = 94 worth of health care free to everyone.
If you are middle class and in the 25% tax bracket that would give you 00/25% = ,000 worth of health care free to everyone.
See? Wealthy people would enjoy less tax exemptions. That’s progressive.

Now goes Mr. Obama actual proposal to put a cap on health care tax deductions. Needless to say that people who by health care insurance privately do not need to apply. This is how Obama encourages small businesses in their mission of jobs creation. But lets forget about such small irrelevant things.

There is now 100% tax detectability of health care group policy provided by employers. Obama wants to put 00 cap on this tax deductible benefits. Meaning that compared to McCain’s plan wealthy people whose tax deduction would be only 94 anyway under McCain will get no tax hit, but those in the middle class will be liable for the difference ,000 – ,000 = ,000 to lose its tax deductible and hence pay ,000 x 25% = ,000 extra tax.

So much for taxing the rich.
Ref:

http://taxvox.taxpolicycenter.org/blog/_archives/2009/2/26/4105759.html

There are more and I admit that some of my input data are not accurate, but its only because

a) The liberal media ignores the misdeeds of Barack Obama
b) The plans are still in the making – and this is the best point to stop them.
Ref:

http://taxvox.taxpolicycenter.org/blog/_archives/2009/2/26/4105759.html

There are more and I admit that some of my input data are not accurate, but its only because

a) The liberal media ignores the misdeeds of Barack Obama
b) The plans are still in the making – and this is the best point to stop them.

Kinda long but please read and tell me what you think?

 

No matter what your choice is, does this sound ok to you?

WASHINGTON — Barack Obama has a disturbing habit of saying things that are not true, such as no one who makes less than 0,000 will pay higher taxes under his tax plans.

He is running saturation ads around the country saying this, but the fact is that lots of people will be paying higher taxes beneath that income level (which will raise the top marginal tax rate from 35 percent to nearly 40 percent). In fact, millions of Americans who now pay no income taxes will get "refundable" checks from the government under his plan (but more on that in a minute).

The liberal senator would raise capital-gains tax rates on the sale of stocks or other assets on the gain in their value when they’re sold. That would mean higher taxes on millions of American families preparing for their retirement.

He’d raise taxes on dividends, too, that would impose higher taxes on Americans whose income depends on those hard-earned dividends.

If you run a small business that earns 0,000 or more and you pay taxes on its earnings as an individual taxpayer (though you pay yourself less than that), you will be hit by his higher income tax.

His plan proposes to get rid of a lot of corporate tax "loopholes," which would mean higher taxes that would be passed on to their customers who make a lot less than 0,000.

But the most disingenuous part of his tax plan is his claim that he will give 95 percent of all American workers a "tax cut," because he does not mention that it will mean sending checks to millions of tax filers who pay no personal income taxes.

Critics say that looks "suspiciously like welfare" or income redistribution from wealthier taxpayers to lower-income Americans. But it also raises the question, How can he call it a "tax cut" when its recipients pay no income taxes?

Under his "Making Work Pay" income tax cut for low- to middle-income people, he will give a "refundable" 0 tax credit to low- to middle-income workers or ,000 to couples. It would begin to phase out at ,000 for individuals and 0,000 for a couple.

But because he makes it "refundable," he will pay the equivalent amount to those who have no income-tax liability after taking the usual tax credits and deductions in the tax code. Those checks would come from taxes to be paid by higher-income Americans.

The Internal Revenue Service says nearly 46 million tax filers — one-third of all filers — had no tax liability in 2006, so you can hardly call this a tax cut because they pay no taxes.

"What he’s really talking about doing is mailing a check and, to me, that looks more like a welfare program than the kind of real tax relief that would encourage work, savings and investments," said Phil Kerpen, policy director at Americans for Prosperity, a free-market advocacy group.

Obama claims that almost all workers (95 percent) will benefit from his "tax cuts." But Investor’s Business Daily points out that Obama’s "’working families’ does not include all households. Throw in singles, retirees, students and the unemployed, and the share getting some tax-related benefit is a good deal less."

The Tax Policy Center, a nonpartisan tax-analysis group established by the liberal Urban Institute and the Brookings Institution, dismisses his 95 percent figure, saying that about 80 percent of households would receive a tax cut. Throw in the tens of millions of tax filers who owe no taxes, and the percentage of taxpayers getting real tax cuts falls a lot lower.

The Obama campaign’s chief economist Jason Furman told me in an e-mail that "the tens of millions of families working hard and paying payroll taxes do not think that tax cuts are a form of ‘welfare’ or ‘redistribution’ — they think it is only fair to reward work."

Roberton Williams of the Tax Policy Center said "one can argue" that workers who don’t pay income taxes "are paying Social Security payroll taxes, and this is a tax cut against that."

But is this just another clever way for Obama to redistribute the nation’s income, taking from high-income taxpayers who pay the lion’s share of all income taxes and giving it to lower-income workers who pay none?

Williams doesn’t dispute this. "You could view it that way because both (tax) proposals are in the same tax plan," he said. "There’s no question that’s one way to perceive the tax plan." Exactly.

So this is what’s at the core of Obama’s economic policies — taking more money from one group of taxpayers and directly transferring it to those in the lower- to middle-income tax brackets who pay little or no income taxes to begin with.

Instead of cutting everyone’s taxes to encourage work, investment and savings by enlarging the economic pie, Obama would redivide the pie into smaller slices and redistribute it through the tax system.

This is the Europeanization of the economy that awaits us under an Obama presidency.

The tax man cometh so you can pay for the "free health care" – thoughts on these proposals?

 

— Broaden the 1.45-percent Medicare tax on earned income to “passive income,” which could include money from capital gains, rental properties and businesses that do not require direct participation. This could raise 0 billion.

— Levy a five-percent surtax on individuals who earn more than 0,000 and couples that make million.

— Tax health benefits at a higher level than had been considered. Two scenarios are in play. Taxing plans worth more than ,300 for a family and ,300 for an individual could raise 0 billion. Increasing the cut-off to plans worth more than ,000 would bring billion.

— Capping the tax break on itemized deductions at 28 percent, as President Barack Obama had proposed, or freezing the top deduction rate at 35 percent when the Bush tax cuts expire in 2010. The first scenario would raise 8 billion, while the second would collect billion.

— Issue tax credit bonds to pay for the proposed Medicaid expansion, raising billion.

— Charge fees to pharmaceutical manufacturers, bringing in as much as billion, and insurance providers, raising billion.

– Raise taxes on sodas and sugary drinks. A 3-cent hike could pick up billion, and a 10-cent hike could make 0 billion. This one already appears out of favor: Many senators have specifically ruled out the sugar tax, and a Senate Democratic source said it was the one option that was clearly not gaining traction with committee members.

http://www.politico.com/news/stories/0709/24752.html

The tax man cometh so you suckers can pay for the "free health care" – thoughts on these proposals?

 

— Broaden the 1.45-percent Medicare tax on earned income to “passive income,” which could include money from capital gains, rental properties and businesses that do not require direct participation. This could raise 0 billion.

— Levy a five-percent surtax on individuals who earn more than 0,000 and couples that make million.

— Tax health benefits at a higher level than had been considered. Two scenarios are in play. Taxing plans worth more than ,300 for a family and ,300 for an individual could raise 0 billion. Increasing the cut-off to plans worth more than ,000 would bring billion.

— Capping the tax break on itemized deductions at 28 percent, as President Barack Obama had proposed, or freezing the top deduction rate at 35 percent when the Bush tax cuts expire in 2010. The first scenario would raise 8 billion, while the second would collect billion.

— Issue tax credit bonds to pay for the proposed Medicaid expansion, raising billion.

— Charge fees to pharmaceutical manufacturers, bringing in as much as billion, and insurance providers, raising billion.

– Raise taxes on sodas and sugary drinks. A 3-cent hike could pick up billion, and a 10-cent hike could make 0 billion. This one already appears out of favor: Many senators have specifically ruled out the sugar tax, and a Senate Democratic source said it was the one option that was clearly not gaining traction with committee members.

http://www.politico.com/news/stories/0709/24752.html

Why do people keep saying. ‘How is Obama going to pay for all of his tax cuts?’?

 

Are they lazy? All they have to do is go to his website??

Barack Obama’s Plan
Restore Fiscal Discipline to Washington

* Reinstate PAYGO Rules: Obama believes that a critical step in restoring fiscal discipline is enforcing pay-as-you-go (PAYGO) budgeting rules which require new spending commitments or tax changes to be paid for by cuts to other programs or new revenue.
* Reverse Bush Tax Cuts for the Wealthy: Obama will protect tax cuts for poor and middle class families, but he will reverse most of the Bush tax cuts for the wealthiest taxpayers.
* Cut Pork Barrel Spending: Obama introduced and passed bipartisan legislation that would require more disclosure and transparency for special-interest earmarks. Obama believes that spending that cannot withstand public scrutiny cannot be justified. Obama will slash earmarks to no greater than year 2001 levels and ensure all spending decisions are open to the public.
* Make Government Spending More Accountable and Efficient: Obama will ensure that federal contracts over ,000 are competitively bid. Obama will also increase the efficiency of government programs through better use of technology, stronger management that demands accountability and by leveraging the government’s high-volume purchasing power to get lower prices.
* End Wasteful Government Spending: Obama will stop funding wasteful, obsolete federal government programs that make no financial sense. Obama has called for an end to subsidies for oil and gas companies that are enjoying record profits, as well as the elimination of subsidies to the private student loan industry which has repeatedly used unethical business practices. Obama will also tackle wasteful spending in the Medicare program.

Make the Tax System More Fair and Efficient

* End Tax Haven Abuse: Building on his bipartisan work in the Senate, Obama will give the Treasury Department the tools it needs to stop the abuse of tax shelters and offshore tax havens and help close the 0 billion tax gap between taxes owed and taxes paid.
* Close Special Interest Corporate Loopholes: Obama will level the playing field for all businesses by eliminating special-interest loopholes and deductions, such as those for the oil and gas industry.

Barack Obama’s Record

* PAYGO: Obama voted in 2005, 2006, and 2007 to reinstate pay-as-you-go (PAYGO) federal budget rules.
* No-Bid Contracts: Obama has introduced and helped pass bipartisan legislation to limit the abuse of no-bid federal contracts.

I guess it just goes to show that people have closed minds when it comes to Senator Obama. I tend to think that most of them make a good deal of money and are pretty upset at the thought of losing ANY of it.

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