Posted by
Bill Crawford on Monday, April 27, 2009 9:46:45 PM
I was alive and conscious during the Presidential campaign last year. Obama was adamant about his tax plan: 95% of American taxpayers would get a "tax cut" under his plan. He sent out a classic, age-old urban 'soak the rich' populist plan, and there was no defining him on the issue in any way other than his words.
So, where is it? I'll tell you where you can find it. Look a the withholding in your paychecks. Most people will pick up about $13 extra a week, until the $400 per taxpayer he promised is reached.
That's all, folks. Four hundred dollars. Then the government is tapped out. This is the cow that we are all supposed to milk to start the aggregate demand recovery that his Keynesian economic theory holds as our salvation.
This is two or three levels of hubris above Clinton formulating his deficit reduction program in 1993 and announcing (after three weeks in office) that "I tried everything I could, but couldn't find a way to do this and give a middle class tax cut", which was a campaign staple for HIM, too.
Those of you in the urban areas of this great country, New York and California in particular: when the Bush tax cuts are allowed to die next year (and they most assuredly will), add up your taxes. Fed income, State income, sales tax, property tax and fees of all kinds. When you realize you are well north of 50% of your income, ask yourself: are you happy with this?
We live in a country where taxes have crept up to this level, and we have to hire accountants to beat it down to something more affordable on April 15th. We get the money pulled away from us before we get paid and we have to do a ton of paperwork to prove that we deserve some of it back. How nuts is that?
Here is the unholy surprise of it all: most of the people who are well off enough to have to deal with the ungodly AMT (Alternative Minimum Tax) VOTED for Obama! Why? He was going to give you some relief from this?
So all you Obama voters, when you get your extra $13 next week, and Obama tells you he needs a $650 Billion down payment for health care, are you going to give it back, or just allow him to run up the debt?