Diary

Barack Obama Admits Socialism - "Spread The Wealth"

At a campaign rally over the weekend the arrogance of Obama actually shined when a plumber who owns his own business asked Obama about his taxes being raised if Obama is elected and institutes his tax plan.

Arrogant because the liberal/socialist Democrat considers that he has already won the election so now he can actually tell the truth about his socialist ideas especially when it comes to taxes.

First Obama danced around the question when the plumber expressed concern about his taxes being raised when Obama said, “it’s not that I want to punish your success, I just want to make sure that everybody who is behind ya, that they’ve got a chance at success to.”

Next the arrogant socialist admits the truth in his tax plan, ” I think that when you SPREAD THE WEALTH AROUND, it’s good for everybody !”

Plain and simple, this is socialism, spreading the wealth around, redistrubuting the wealth, taking from those that have and giving it to those who don’t. No matter how it is stated it is plain and simple socialism. That is the America that Barack Obama wants to bring, the,”change,” he is calling for.

His tax proposals claims that he is cutting taxes for 95% of Americans while raising taxes for the top 5% who make over $250,000 a year. This of course includes small business owners like the one Obama told he was going to ,”spread the wealth.”

Many small business owners do not seperate their personal income from their business income. Also coming off the top of their business income are expenses like, employeee payroll, inventory, daily operating cost and much more. Raising taxes for this group of Americans will limit their cash flow to the point that we will see many small business go under and/or lay off employees in order to meet the new Obama, “spread the wealth,” tax burden.

Also there are other deceptions in the Obama 95% cut tax plan. First, 44% of Americans DO NOT PAY TAXES. So under the Obama tax plan these non tax payers will actually recieve a refund check which will be financed by the ,”spread the wealth,” tax increase that Obama explained to the plumber.

Obama’s so called tax cuts are not cuts at all but actually tax credits. In other words Obama redefines the meaning of a tax cut by proposing to either creating or expand seven tax credits for individuals.

These credits are:

  1. A $500 tax credit ($1,000 a couple) to “make work pay” that phases out at income of $75,000 for individuals and $150,000 per couple.

  2. A $4,000 tax credit for college tuition.

  3. A 10% mortgage interest tax credit (on top of the existing mortgage interest deduction and other housing subsidies.

  4. A “savings” tax credit of 50% up to $1,000.

  5. An expansion of the earned-income tax credit that would allow single workers to receive as much as $555 a year, up from $175 now, and give these workers up to $1,110 if they are paying child support.

  6. A child care credit of 50% up to $6,000 of expenses a year.

  7. A “clean car” tax credit of up to $7,000 on the purchase of certain vehicles.

The catch with each of these is that all eccept the ,”clean car,” credit are refundable which means that the 44% who pay NO TAXES will actually recieve each of the other six credits that they are eligable for in the form of a tax refund check, which again will be payed for by Obama’s, “spread the wealth,” tax increase. Infact according to The Heritage Foundation by 2011 Obama’s refundable tax credit plan for non – taxpayers will actually increase the number of those who pay no taxes and recieve credit refunds each year by 10 million to a total of 73 million Americans.

Under Obama’s plan, these tax credits are also phased out as income rises which means that the more people make the less they will recieve in Obama credits. Which of course will also incourage a welfare type situation as people realize they will recieve more if they work less.

According to the Tax Policy Center Obama’s plan would cause the refundable tax credit expenditures to rise by $647 BILLION dollars in the next ten years. This would place the welfare tax credits expenditures at four times more than state and federal welfare assistance programs.

The plain and simple truth is that Obama’s tax plan will become the largest redustribution of wealth in American history. This combined with his massive spending increases not the least of which is his $150 billion dollar universal health care plan which many believe will cost MUCH more, will send this Nation down the nonreversable path to socialism which Obama finally admited when ,”explaining,” to the plumber why his taxes will be raised.

Ken Taylor theliberalslies.blogspot.com