Obama’s Tax Lie
No tax HIKE does not mean no tax INCREASE
I’m still undecided about this election. It’s no secret that I’ve never liked McCain and I hate Bob Barr with a passion. But something has been bugging me about Obama’s tax plan. I read his site and got very little information. (No political site ever actually gives you what you need. It’s mostly just preaching slogans to the converted.) I’ve taken a look at what he says he’s going to do and can’t quite figure out how he gets away with lying about not raising taxes on people making under 250K. So the following should not be seen as a pro-McCain rant, but rather as a grim look at what is coming and a big “WTF” as to why he can keep repeating the same lie without ever being called on it.
OK, so let’s take a look at this.
Obama says his tax plan will not include a “tax hike” on 95% of Americans.
This is political doublespeak…ahhh fuck it. It’s a lie. A fucking lie. A lying fucking lie.
Part of his plan is to eliminate the “Bush tax cuts.”
Those tax cuts include the following.
$500 per child tax credit for ALL families regardless of income.
$3500 per child write off for ALL families regardless of income.
Obama will wipe these out.
Do the math for say, a family of 4 making 70K a year.
$1000 more paid in taxes because of the lost child credit
$1400 more paid in taxes because of the lost write off (At a 20% rate which is probably low.)
That’s 2400 dollars MORE in taxes on a family making 1/3 of his magic 250K number.
So why is no one questioning or flat out calling him a liar? (Beyond the obvious political cheerleader mentality.) One can only assume that “no tax hike” means nothing on top of taking away tax cuts already in place.
That’s bullshit. On July 9th gas was $4.39 a gallon. Today at the same station it is $3.25. Next year when it’s back to $4.39 will we say that there has been “no price hike” on gas just because we are back to where the price was before the drop?
Sen. Obama is lying about what he will do to working families and people either can’t read or don’t care. By taking away the ‘evil’ Bush tax cuts he is raising the tax burden on a family of 4 by 2400 a year.
On top of that his plan includes the reinstatement of the marriage penalty tax (Married couples filing jointly paying MORE than two singles living together making the exact same amount) that was eliminated (I believe under Clinton).
So where is the tax relief he promises? There are checks for $500 sent to those not currently paying taxes. (40% of Americans by the way pay NO Federal Income Tax, again thanks to those Bush tax cuts.) But NOTHING going to families making between 50K to 250K a year.
Taking away child credits and deductions, bringing back the MPT and increasing tax rates on small businesses hurts working families.
How does he get away with this?
