Some families with an income of $40,000 could lose up to 40 cents in vanishing credits for every additional dollar earned from working overtime or taking a new job. As public policy, this is contradictory. The tax credits are sold in the name of "making work pay," but in practice they can be a disincentive to working harder, especially if you're a lower-income couple getting raises of $1,000 or $2,000 a year."

 

That's an important thing to point out. :thumb:

Somebody help me with this...

 

0 divided by any positive number is less than zero. You can't divide zero by a positive number and achieve a positive number.

 

If one-third of all tax filers do not pay FICA taxes. It is impossible to give a "tax cut" to someone not contributing a positive number.

 

To say "95% of Americans will receive a tax-cut under my plan" is a lie. At best, (95 - 33 = 62) 62% could conceivably receive a "cut", but to claim 95% and keep claiming 95% is a bald-faced lie.

 

What am I missing here?

 

As the article indicates, the phrase "tax cut' as used by Obama is a misnomer. What he calls a tax cut is simply more welfare; welfare paid for by people like me. If you are going to steal my money at least have the decency to do it honestly: by gun point.

 

I quote from the article (emphasis added by bolding):

 

"For the Obama Democrats, a tax cut is no longer letting you keep more of what you earn. In their lexicon, a tax cut includes tens of billions of dollars in government handouts that are disguised by the phrase "tax credit." Mr. Obama is proposing to create or expand no fewer than seven such credits for individuals:

 

- A $500 tax credit ($1,000 a couple) to "make work pay" that phases out at income of $75,000 for individuals and $150,000 per couple.

 

- A $4,000 tax credit for college tuition.

 

- A 10% mortgage interest tax credit (on top of the existing mortgage interest deduction and other housing subsidies).

 

- A "savings" tax credit of 50% up to $1,000.

 

- An expansion of the earned-income tax credit that would allow single workers to receive as much as $555 a year, up from $175 now, and give these workers up to $1,110 if they are paying child support.

 

- A child care credit of 50% up to $6,000 of expenses a year.

 

- A "clean car" tax credit of up to $7,000 on the purchase of certain vehicles.

 

Here's the political catch. All but the clean car credit would be "refundable," which is Washington-speak for the fact that you can receive these checks even if you have no income-tax liability. In other words, they are an income transfer -- a federal check -- from taxpayers to nontaxpayers. Once upon a time we called this "welfare," or in George McGovern's 1972 campaign a "Demogrant." Mr. Obama's genius is to call it a tax cut."

 

What the WSJ calls "genius" I call out right lying.

 

And folks, like Hearsay, I think the WSJ is the most accurate, the most fair newspaper in the country. You CAN take what they print to be the simple truth. They've ripped McCain more than enough for them to be attacked as partisan.

 

Doesn't it bother the open minded folks out there that Obama is trying to pull the wool over your eyes or have we become so jaundiced towards politicians that we simply don't care when people lie? I know what lying says about a person that lies. But what does it say about us when we vote for and support someone that is so blantly trying to deceive us?

 

Much as Nwo feels this election has "opened his eyes", I likewise have had my eyes opened. His has been opened to the racism still present in this country. Mine have been opened to the stupidity and gullibleness of Americans. In a word, I'm disappointed. I'm disappointed in the politicians, but I'm even more disappointed in the American voter.

 

I'm disappointed in people that throw lies about Obama being a Muslim. I'm disappointed in the character assinations made on Obama. I'm disappointed in Obama's mischaracterization of McCain. I'm disappointed that blacks would vote for Obama because he's half black and I'm disappointed in whites that won't vote for Obama because he's half black. But I'm most disappointed in people that don't have the intelligence to see smoke being blown up their backsides and don't have the intelligence to be able to separate their emotions from making logical choices.

 

This should be a no brainer election. We wanted and have clamored for a centrist to survive his or her primary so we could put a consensus builder in the White House. We have decried the politicians that represent the extremist wings of his or her party. We have talked about what a dangerous point in our history this country is currently. We have talked about how we are sick and tired of welfare programs taking money out of working men and women's pockets and giving it to undeserving people.

 

Yet because we are so upset with the current President, we are going to knee jerk vote for someone that says he is going to change America. But we don't really dig into how he is going to change it, rather because he is a very good and persuasive speaker we simply believe him, even when articles like the one referenced expose his policies for what they are. Yes Obama tax cut policy is a change all right. But is it a change for the better, is the real question.

 

We lament how Bush's inexperience in foreign policy matters got us into Iraq. Then we elect someone that has probably the same gross lack experience in foreign policy experience as the person we are upset about. That's intelligent.

 

We are upset with the economy and foolishly blame the party of the man in office for those problems. Why do we do so when many a Democrat in Congress pushed for and strongly supported the irresponsible home buying policies that really are what got our economy in the mess it is. We don't seem to care about that for some unexplainable reason. We don't seem to care that it was stupid people that bought homes they had no business buying, that got us in the mess we are in. We don't seem to care about that either; rather we foolishly and emotionally take our ire out of the party of the current President. That's real intelligent.

 

We talk about how upset we are about our national debt dramatically increasing and hold the R's in scorn because they are supposed to be the party that is against run away spending, and what do we do in response? We elect someone from a party that has a long track record of supporting greater and greater runaway spending. Now that makes a ton of sense doesn't it? Where are the funds going to come from to pay for Obama's tax cuts for 95% of Americans? Do we really think the wealthy people and businesses are going to just absorb those increased costs? Use your head people. All we are going to do is pay higher prices for products and services to those business and people. They'll pay higher taxes to the federal govt, which after they suck out a large chunk of it to support the bureacrats and pay for the federal pork projects, they'll return a portion of it to the undeserving and a smaller portion of it to the American people that were forced to pay the higher prices for the products and services. We are going to pay huge "shipping and handling charges" on our own money and get back pennies on the dollar. That's real intelligent.

 

Honestly, unless the person voting for Obama is a dyed in the wool liberal, or who is someone who believes in greater government dependency, or is someone who believes that is okay and right to take money from people to give to people that haven't earned it, or is someone who truly believes that a foreign policy naivite can enter the Oval Office and be able to make decisions that will affect the future of our children and grandchildren to a degree much greater than the burden of paying off our national debt down the road, I just don't understand how someone could vote for Obama. I just don't get it. The only explanation I can come up with is that we are foolishly letting emotions supercede intelligence. Which is not a very smart thing to do.

 

This should be a no brainer election. Unfortunately, I'm afraid its shaping up to be a no brain election.

 

Sorry if that's offensive to some, but its been on my chest for a while and it feels good to get it off.

That pretty much sums up everything I've been thinking for months but couldn't come close to expressing in that way LN. Thanks

Maybe the best post I've ever read on the P&R forum LN. Well done!

Probably another thread killer authored by LN because it will be very difficult to refute. Very well said.

LN, you had me at hello.

 

 

:thumb: Nice closing argument, counselor.