Obama's Looming Tax Problem

[FUZO]

Obama's Looming Tax Problem

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There is a very big problem looming on the horizon for Obama, exacerbated by the recent disastrous news from Wall Street. There is a total disconnect between Obama's lofty promises and the reality of what he can actually accomplish.

Obama keeps saying he is going to raise taxes on the rich and cut taxes for everyone else. (The "95% of Americans" figure he quotes is a falsehood. The real figure is much lower).

But he has already acknowledged that this tax plan will effectively reduce tax revenue coming in to government coffers. The only justification Obama offers for his tax plan is that it is "fair".

McCain keeps saying Obama is going to raise taxes, and Obama keeps saying that's a lie. But who's really lying here?

The current state of the economy creates a huge credibility problem for Obama.

He has made many campaign promises about billions in new spending on various initiatives. But how can he possibly pay for them if he keeps his promises on tax cuts? How can Obama continue to campaign on the claim that he will cut taxes? This entire aspect of his platform makes no sense.

As we move closer to the debates and the GE, this issue is bound to become more and more obvious (and will certainly be pointed out by Republicans).

I think this should be one of our main avenues of attack on Obama. We should be asking "Which is it? Tax cuts or Spending? How can you cut taxes and still keep your election promises?"

Any realistic analysis would suggest that Obama can do neither. Which is why McCain continues to assert that Obama will actually raise taxes. How could Obama do otherwise?

[FUZO]

Re: Obama's Looming Tax Problem

It's important to recognize that Obama is also contradicting himself. He recently backtracked on rescinding the Bush tax cuts. He said he wouldn't "raise" taxes on rich people, even during a recession.

So, Obama is campaigning against the Bush tax cuts while actually planning to keep them in place. Most people don't realize this!!!!

Even a socialist like Obama has to admit:

Tax cuts STIMULATE the economy, which ultimately bring in more tax revenue, despite the lower rates.

Tax increases SLOW the economy, which ultimately bring in less tax revenue.

So, Obama is now openly admitting this, but still pledging to cut 95% of the people's taxes, and raise them only on businesses and people making more than $250,000.

There is NO LOGIC anymore ... He's not even making sense with what he's promising. He seems to say: for now, we'll keep taxes low. But as soon as our economy RECOVERS we'll jack them up for the top 5%.

Non-sense...

[FUZO]

Re: Obama's Looming Tax Problem

BO very carefully says he will not raise taxes on "working" people...meaning income from jobs and small business under $250K. What it is not telling folks is he is going to hammer Capital Gains taxes and other income.

[FUZO]

Re: Obama's Looming Tax Problem

We already have the 2nd highest corporate tax rate in the world at 35%.

John McCain wants to lower the top corporate tax rate to 25%.

This would keep more jobs in America.

What is Obama's plan for corporate tax rate?