Obama’s tax plan will work—some taxpayers may get a large tax reduction…and here’s how it goes down:
Obama sends 95% of the taxpayers a check for $500 apiece (even the 45% who paid less than that in taxes last year). Then he levies higher taxes on the 5% who are “rich” (and own the large businesses where the taxpayers work).
So far so good, you still with me? O.K.
Now Business Guy, who owns National Widget Co., isn’t going to absorb the brunt of the new tax, so he adds the “cost of doing business” to the Widgets that we all have to buy.
So Joe Average, who works on the loading dock at Nat-Wid (as the employees affectionately refer to the company) , goes to Widget-Mart to get his daily Widgets with his $500 check—and it’s all spent on the increased price of the Widgets.
After a while consumers cannot pay for the increased cost of the Widgets, so they buy less of the product. National Widget loses money with the decrease in sales, so Business Guy has to let go of Joe Average.
Now Joe has no job, no income—ergo NO TAXES!! Now that’s a tax cut!!
With Joe paying less taxes, Obama’s government has less revenue, so he has to raise the taxes at National Widget some more, and guess who gets the axe? Yeah, Eleanor, the secretary (who is also Joe’s wife).
Joe and Eleanor had been saving to buy a house (which now is out of the question) and they were just about to call **YOU, **Sammy the Inspector, to inspect it for them.
…and, Mr. Bushy, I sincerely hope you realize that even if Obama is elected (and he will be) that he would not suddenly be right.
EPresidential ections are not about who is right or wrong–and this year nobody is right–but rather who can be the most convincing with whatever they say.
Chances are, the President will have little to do with governance–it’ll be up to Congress. Even Pelosi, if re-elected, may not be able to stand off the other 434 members.
I have to believe that change is coming…and it’ll be Congress who wakes up–even just a little bit.
They’re called back door tax increases and the Dems are famous for them. You’ve not added in health care yet, which small business will be required to provide. Pretty soon the $1 McDonalds menu is going to be $5
Its sicken what the two possibilities are for the economic policy coming out of the Oval Office. On one hand we have the pacific GOP approach of give 'em everything they want in hopes of them being greatful for the gesture and return the favor. On the other hand we have the DNC plan of sucker-punching the corporations with nasty tax increases and suffocating constrictions, in hopes that Corporate America will agree to be tamed. We’re screwed either way.
