Obama and Taxes

Generally speaking, I do not believe politicians, especially during campaigns. They promise everything to everyone, with either no intentions of actually following through or any idea of how they could actually fulfill their promises. Obama's tax "cuts" for people earning under $250,000 is a great example. He claims that 95% of people in America would experience a tax "cut". By now most people have heard that nearly 40% of Americans do not pay Federal income taxes, so there is no way they can experience a tax "cut". In Obama's plan these 40% would actually receive money from the government, even though they did not pay any income taxes. This is all part of Obama's "spread the wealth" philosophy (also know throughout the world as Marxism). Obama sees these checks as compensating and "cutting" what these people pay in payroll taxes (Social Security), hence the tax "cut". My question is what impact will this have on the future of Social Security? Isn't this working against the purpose and future health of Social Security? Isn't the concept that ALL Americans are to pay into Social Security?

But there is one other aspect of Obama's tax plan that has not been covered by journalists or by the McCain campaign. In 2010 the Bush tax cuts are scheduled to expire. In 2010 everyones effective tax rate will increase, regardless of how much someone earns. To Obama this is not considered a tax increase ( I wish someone would push him to explain why). For a married couple making $75,000, your taxes will go up by $3,074 when the Bush tax cuts expire in 2010. For Obama, an extra $3,074 is not a tax increase. How can he get away with claiming tax "cuts" for 95% of the people when he knows everyone will be paying more when the Democratic congress and Obama himself allow the Bush tax cuts of 2003 to expire in 2010? Do you think they will fight to extend those cuts? Fat chance. Democrats have complained about those cuts for the past 5 years.

If you want to read some more about Obama and his tax plans, check this article out. Bottom line: don't trust this guy.