Ed Morrissey delves a little deeper into Comrade Obama’s economic plan I blogged about yesterday and it paints a picture of someone who wants the government to burrow itself even deeper into every aspect of your life:
Obama proposes to create a government-run savings program that provides matching funds on savings. In other words, Obama wants to collect tax money to redistribute it to savers, in a plan that works much the same as employer 401k plans. Why should the government pay people to save their money, especially outside the 401ks that work better and have much higher caps?
Do you like the IRS? Want to trust them to do your tax returns? Rather than simplify taxes, Obama instead wants to have the IRS prepare your returns for you and send them out for your signature. Since the IRS gets all of your income information already, he wants the IRS to calculate how much you owe, without apparently considering that most Americans itemize for deductions. It doesn’t cut down on preparation time in any case, but merely transfers the cost to the federal government– as well as more power to the IRS. Read the rest of this entry »
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Socialism thy name is Barack Hussein Obama:
Mr. Obama unveiled much of his economic strategy in Wisconsin this week: He wants to spend $150 billion on a green-energy plan. He wants to establish an infrastructure investment bank to the tune of $60 billion. He wants to expand health insurance by roughly $65 billion. He wants to “reopen” trade deals, which is another way of saying he wants to raise the barriers to free trade.
He intends to regulate the profits for drug companies, health insurers, and energy firms. He wants to establish a mortgage-interest tax credit. He wants to double the number of workers receiving the earned income tax credit, the EITC, and triple the EITC benefit for minimum-wage workers. The Obama spend-o-meter is now up around $800 billion. And tax hikes on the rich won’t pay for it. It’s the middle class that will ultimately shoulder this fiscal burden in terms of higher taxes and lower growth. Read the rest of this entry »
Technorati Tags: capital gains tax, conservative, dividends tax, Economy, liberal, personal income tax, senator obama, socialism, tax
