Obama will raise taxes on the American Dream of success by those earning $250,000 or more each year; a government handout on the backs of small business.
Obama's concept of being patriotic is redistribution of the earnings of small businesses who invest their money and take the risks in order to reap the rewards that come with realizing the American Dream of success.
Obama Redistribution Program
According to an article in the Wall Street Journal (8/19/08), taxes paid by small business people earning $250,000 or more each years will be distributed to those who pay little or no federal income tax. If a tax credit is $1,000 but otherwise the tax payer would pay only $200, the U.S. Government, under Obama's redistribution plan, would get a check for $800. Those who pay no income tax at all would get a check for $1000.
Obama Redistribution Program Reviews
Money.cnn.com
Over half-a-million taxpayers with business income would be subject to Obama's tax increase. According to the Tax Policy Center, 663,608 tax payers with business income (or losses) fall into the top tax brackets and could be subject to Obama's tax increase. (9/08/08)
Manchester Union Leader
Obama's plan...is failed distributionism wrapped up in pretty new paper. That isn't change. It is a failure of imagination. And it is a betrayal of trust in the American people and of the ideals on which this great and free nation was founded. (10/15/08)
Washington Times
Instead of cutting everyone's taxes to encourage work, investment and savings by enlarging the economic pie, Mr. Obama would redivide the pie into smaller slices and redistribute it through the tax system. This is the Europeanization of the economy that awaits us under an Obama presidency. (10/16/08)
New York Post
It is clear that his main goal is a distribution of wealth, not growth....He's perfectly happy to destroy wealth as long as he can redistribute it. (10/15/08)
Wall Street Journal
Its a clever pitch, because it lets him pose as a middle-class tax cutter while disguising that he's also proposing one of the largest tax increases ever on the other 5%. But how does he conjure this miracle, especially since more than a third of all Americans pay no income taxes at all. There are several sleight of hands, but the most creative is to redefine the meaning of "tax cut."
For the Obama Democrats, a tax cut is no longer letting you keep more of what you earn. In their lexicon, a tax cut includes tens of billions of dollars in government handouts that are disguised by the phrase, "tax credit. Mr. Obama is proposing to create or expand no fewer than seven such credits for individuals. (10/13/08)
There is also a concern that by taxing small business and redistributing their wealth, as in the Obama proposal, it would drive those who are successful to move their operations to foreign countries adding to unemployment in the United States.
The copyright of the article Obama and Redistribution of Wealth Program in US Elections is owned by Martha R. Gore. Permission to republish Obama and Redistribution of Wealth Program in print or online must be granted by the author in writing.
I can't believe the claims you are making here. Op-ed is one thing - this
is nothing but propaganda supported by greedy people. It disgusts me.
Oct 18, 2008 8:11 AM
Guest :
I don't find this difficult to believe at all. Your references are there to
follow. No, I have done my own research on Obama and you are accurate in
what you are writing. Americans apparently are willing to be sheep in this
election and afraid to really look at the background of this candidate.
It's not propaganda, not by a longshot.
Oct 19, 2008 10:19 PM
Guest :
This ruse Obama is perpetrating on the voters is horrid. He really thinks
we are going to fall for it, but we are too smart. The man knows nothing of
how to manage money, and I won't have him managing mine. His tax returns
for 2000 to 2004 show him and his wife earning 1.2 million. Yet they have
no capital gains and no dividends, and show only 33 dollars worth of
interest in this period. If he understood anything about how to keep money,
or manage money or grow money, he would never propose such a socialist
welfare plan under the guues of a tax plan. We have to vote this guy down.
Oct 21, 2008 1:33 AM
Guest :
The problem is that people get comfortable in saying that "anyone who
makes more than me should pay more taxes" because it's easy and
doesn't affect them. Why on earth would you reward someone who doesn't
work (and therefore doesn't pay taxes) with an incentive? Instead,
encourage hard work - encourage education - encourage investment. Build
the economy - don't carve it up.
We are talking here about
giving money to the same people that the federal government felt should get
home loans even though they are not qualified - and that put us in the mess
we are in now. Stop coddling those who refuse to do a hard day's work, and
start rewarding those who do. That applies across all income levels.
Europe is going in the toilet and Comrade Obama wants the US to
become like that. No way - not by a long shot.
Oct 23, 2008 8:07 AM
Guest :
Obama's first, second, and third priority is to get elected. If that means
pandering to large numbers of unemployed, under employed, those on welfare,
illegal aliens, and malcontents, he'll be happy to throw them a few crumbs
as a way to get their votes. He will also turn democracy and capitalism on
it's head, and villainize the affluent and successful in our society, in
order to rally the masses behind him. With evangelical zeal Obama will
convince his followers to replace reason with hope and belief ... to
blindly follow him ... never challenge him ... and embrace his words as
gospel. In the real, and unforgiving world of economics however, when you
immediately gratify everyone by feasting on the goose that lays the golden
eggs, the economy looses it's ability to continue generating growth and
wealth. Obama is promising everyone a piece of the pie, whether they helped
bake it, or not ... but, only in a socialistic, or communist state do the
non-contributors demand to share equally in the property that belongs to
others. Immediate gratification is like a drug to the malcontents, but in
the big picture, every farmer knows that you never eat your seed crop. If
Obama gets elected, America will turn into a third world country, with
massive government welfare programs, unable to generate jobs for it's
citizens, and unable to compete in the global markets. Keep America safe,
free and strong ... elect McCain/Palin on November 4th.
Oct 28, 2008 7:48 AM
Guest :
Guest: Those of us trying to run business and achieve the
"American dream" to pay for those who contribute nothing to the
American dream. We currently pay taxes for welfare, why should we be
punished if we grow our business. How can you expand a business or hire
employees if you are being gauged with taxes. This is not a clear or
decisive plan it is the usual attempt of the Democratic Party to through
accomplished working citizens’ money around. Please look at Illinois; Mr.
Obama home town, it is poorly run from the city, county to state. The tax
payers pay a great deal into the city, county and state and yet there needs
to be more funds from taxpayers. These funds are poorly managed. If the
politicians of Illinois tried to run there own business and made $250,000
and really had to work for their pay they would be insulted to have another
tax increase. The public needs to realize Mr. McCain is a moderate. He is
not GWB.
Oct 29, 2008 12:29 AM
Guest :
I have just recently been able to work my way into this tax bracket. I
worked hard to get where I am. I dont feel my hard work should be taken
away from my. Why did I work this hard to just give my money to someone who
has not earned it or deserve it? I am a single mom of 4 children who worked
full time while going to college fulltime. Why should I give my hard
earnings to anyone but my children? What gives them the right to say
"Oh good job NOW GIVE IT TO SOMEONE ELSE" Let them go out and
work. I came from a middle class hard working family and worked my way up
from the bottom. No silver spoon in my mouth. They have no right to take
what I have earned and give it to someone who has the same opportunities I
do but won't take them. Let them earn their own money.
Oct 29, 2008 12:29 AM
Guest :
I have just recently been able to work my way into this tax bracket. I
worked hard to get where I am. I dont feel my hard work should be taken
away from my. Why did I work this hard to just give my money to someone who
has not earned it or deserve it? I am a single mom of 4 children who worked
full time while going to college fulltime. Why should I give my hard
earnings to anyone but my children? What gives them the right to say
"Oh good job NOW GIVE IT TO SOMEONE ELSE" Let them go out and
work. I came from a middle class hard working family and worked my way up
from the bottom. No silver spoon in my mouth. They have no right to take
what I have earned and give it to someone who has the same opportunities I
do but won't take them. Let them earn their own money.
Oct 29, 2008 8:34 AM
Guest :
First, workers are the people who are getting this tax "credit".
So the people aren't lazy welfare bums.
Second, the proposed
taxes are no more than Clinton era taxes, and some like capital gains will
be even lower than it was throughout Reagan's tenure. Are Clinton and
Reagan wealth-redistributing socialists?
Third, the middle-class
tax cuts will create a healthy and vibrant middle class, expanding the
market for businesses to sell their products to. Because more people will
be able to eat out and go to the movies, the increased revenue will offset
the increased taxes, resulting in the same final profit.
Fourth,
the businesses that can afford foreign operations have already set up shop
in Ireland. Senator Obama also proposes tax cuts for businesses who create
jobs in the US, so once those selfish companies move elsewhere to get
"lower taxes", the void will quickly be filled with new companies
based in America.
For a more thorough debunking of the myth of
wealth redistribution, check out the following blog, complete with graphs,
videos, and links supported by major newspapers and government websites.
The author encourages people to comment with corrections, because he is
interested more in truth and less in partisan bickering.
http://aquiettruth.blogspot.com/2008/10/myth-of-wealth-redistribution.htm
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Oct 18, 2008
