Presidential candidate Barack Obama promises a tax cut for 95% of Americans. What a lie and the American electorate is eating it right up like the fools they are. Anyone who is confident Obama will follow through on his 95 percent promise is letting naivety triumph over common sense. For starters, of this 95% Obama talks about, approximately 40% do not pay taxes, therefore, they would be given a tax credit handout, sounds somewhat like welfare to me. Secondly, in regards to the other 5% Obama wants to tax, I suppose it is their patriotic duty to pay more so Senator Obama can spread the wealth around. Thirdly, Obama’s brilliant tax plan would end up harming small business owners. Many small-business owners pay taxes on their business income as individuals, and if they are successful and employing people, they will pay higher taxes under Obama. This would be a tax on job creation, at the worst possible time. The Tax Foundation estimates that under the Obama plan 63 million Americans, or 44% of all tax filers, would have no income tax liability and most of those would get a check from the IRS each year. The Heritage Foundation’s Center for Data Analysis estimates that by 2011, under the Obama plan, an additional 10 million filers would pay zero taxes while cashing checks from the IRS.
Senator McCain has a plan that will not raise taxes on anyone, lower the corporate tax rate (the highest in the world), freeze all government spending and perform a top-down review of the federal budget and remove wasteful spending. John McCain’s plan will grow our economy, keep families in their homes, create new jobs and cut wasteful government spending.
