Please spread this in other blogs, forums...
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Please spread this in other blogs, forums...
From:
http://www.realclearpolitics.com/articles/2008/09/obamas_patriotic_tonic.html
Then we come to the Team Obama fantasy that the Obama plan would cut taxes for most Americans. Yes, Mr. Obama says he will cut rates for lower-income Americans, but will more than offset that by raising taxes on dividends, capital gains, higher incomes, corporations, estates, and payrolls. But most Americans own stock, either directly or through their IRA, 401k or union pensions. Dividend and capital gains taxes will take money from all those. Those Americans on Main Street who own a house or have other investments will be punished by a capital gains tax increase.
Businesses and corporations do not pay taxes; we do. Businesses don't have huge piles of money sitting in the closet that they simply turn over to government when taxes increase. For every dollar that you increase taxes on a business, they simply increase their prices by a dollar. Who then pays the tax? We do. We do, when the product that we bought last week for $20 suddenly costs $21.
(AS a former business owner, I must agree. Raise a business's taxes, they simply pass along the cost as a Cost of Doing Business. Economics 101, folks)
Mr. Obama's plan for universal health care and increased spending on just about everything costs hundreds of billions of dollars. To keep his promises to provide those things while eliminating the deficit and giving checks to lower-income families, he will have to raise taxes by hundreds of billions of dollars. But if lower-income Americans receive a check for $1,000 under the Obama plan yet have to pay $2,000 more when buying food and clothes, they are worse off.
Affluent Americans have not had a tax holiday during the Bush administration. Most analysts agree that the affluent pay more under Mr. Bush. In 2000, the top 1 percent of earners paid less than one-third of all income tax; now they pay 40 percent. The affluent already carry more of the burden.
Also true - it's public record and fact - the "rich" have actually seen their portion of taxes INCREASE under Bush. The median family income (not average, MEDIAN) has increased over the last 8 years! Statistical fact, census records bear this out.
http://www.realclearpolitics.com/articles/2008/09/obamas_patriotic_tonic.html
Then we come to the Team Obama fantasy that the Obama plan would cut taxes for most Americans. Yes, Mr. Obama says he will cut rates for lower-income Americans, but will more than offset that by raising taxes on dividends, capital gains, higher incomes, corporations, estates, and payrolls. But most Americans own stock, either directly or through their IRA, 401k or union pensions. Dividend and capital gains taxes will take money from all those. Those Americans on Main Street who own a house or have other investments will be punished by a capital gains tax increase.
Businesses and corporations do not pay taxes; we do. Businesses don't have huge piles of money sitting in the closet that they simply turn over to government when taxes increase. For every dollar that you increase taxes on a business, they simply increase their prices by a dollar. Who then pays the tax? We do. We do, when the product that we bought last week for $20 suddenly costs $21.
(AS a former business owner, I must agree. Raise a business's taxes, they simply pass along the cost as a Cost of Doing Business. Economics 101, folks)
Mr. Obama's plan for universal health care and increased spending on just about everything costs hundreds of billions of dollars. To keep his promises to provide those things while eliminating the deficit and giving checks to lower-income families, he will have to raise taxes by hundreds of billions of dollars. But if lower-income Americans receive a check for $1,000 under the Obama plan yet have to pay $2,000 more when buying food and clothes, they are worse off.
Affluent Americans have not had a tax holiday during the Bush administration. Most analysts agree that the affluent pay more under Mr. Bush. In 2000, the top 1 percent of earners paid less than one-third of all income tax; now they pay 40 percent. The affluent already carry more of the burden.
Also true - it's public record and fact - the "rich" have actually seen their portion of taxes INCREASE under Bush. The median family income (not average, MEDIAN) has increased over the last 8 years! Statistical fact, census records bear this out.
BillD- Posts : 601
Join date : 2008-09-16
Re: Please spread this in other blogs, forums...
As a business owner, I know that I will not pay the incrrease out of my own pocket. Just can't do it. It is either pass it on or close my doors. Obama will be death to especially small business.
WA State Voter- Posts : 365
Join date : 2008-09-17
Location : Washington's Wine Country
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