The Truth About Obama's Tax Cuts & New Spending Plan

Every time I hear a Democrat say, " the Obama Campaign is going to cut taxes for 95% of Americans!", I almost fall out of my chair. They must think that Americans are uneducated, ignorant and have never been involved in this kind of election before. First of all, they are claiming to cut 95% of Americans income taxes, which is impossible mainly because 41% of Americans don't even pay income taxes, so how could you cut what they don't pay. What he is proposing, is to give 95% of the American people a $1000.00 rebate check. Not exactly a tax cut, is it? So basically if you are one of those 41% of Americans who doesn't pay income taxes, you will get a $1000.00 check and for the 54% of Americans who do pay taxes but fall below the top 5% will get the rebate check in the form of a $1000.00 credit towards taxes owed. That is called a give away, class warfare, or income redistribution. You can call it whatever you like but you can not call it a middle class tax cut.
What Obama does not tell you in his speeches is that he is going to raise lots of other taxes, which will have great effect on the middle class. Obama is going to raise social security taxes, which he has said publicly. He also says he will only raise taxes on small business that make $250,ooo or more a year, which almost all small businesses gross more than $250,000 per year. Obama plans on almost doubling the capital gains tax which would be extremely damaging on the economy. It would mean less capital flowing through the markets which we all know right now is the last thing we need. Also, who do you think creates most jobs in this country? The answer is that top 5% who Obama wants to tax like crazy. What do you think they will do? I'll tell you what they will do, they will cut jobs, cut spending, cut benefits and they will cut pensions. And that my friends will effect the middle class.
In all of Obama's speeches he tells us of all the new government programs he plans on creating when he takes office. Huge and very expensive programs. Trillions of dollars worth of new spending. So he proposes trillions of new spending plus he says he will wipe out our 11 trillion dollar deficit and cut taxes at the same time. It is hard for me to write this without laughing. Are we to actually to believe this guy.
It's common sense! Somehow Obama has to pay for all of his ambitious plans and he can not do that strictly by raising taxes on the 5% riches people in America. It is impossible. We are all going to pay higher taxes to pay for his new government spending, believe me.