There are quite a few things wrong with Obama’s new Tax plan, but I’m going to focus on two that are egregiously wrong. The worst thing about it is the built-in socialism, he would tax most busineses in America and pass the money on in the form a of check to the thirty percent of taxpayers who pay no taxes now. Ignore Obama’s protestations about business owner income taxation, it’s a dodge, a smokescreen –most businesses are incorporated and must file their own return and they would be Taxed. It’s welfare revisited, as outlined in this Fox and Friends segment:
On top of taxing most businesses in the US, Obama would also hit the large corporations that just lost huge chunks of net worth; which directly impacts your pension and 401 K plan during a recession. Besides the huge raid on your pension or 401K net worth, Obama’s trickle-down taxation would tax Joe the plumber, Jill the hairdresser, Bill the baker, Bob the butcher and hosts of others who you depend on day in and day out for goods and services.
Do you think you might end up paying a bit more next time you call a plumber, a furnace repairman, shop for groceries, buy gas, or get your hair done under Obama’s plan? Whatever segment of society is taxed you will pay the end. Thus has it always been, thus it will always be until death do you part from the IRS.
Obama will tax the engine of america’s productivity while we are in a recession to re-introduce welfare, make no mistake: no matter how much he talks about the middle class he’s talking about spreading your wealth around. Last point: if Obama is elected he might initially cut your tax, but it would all be washed away as a Democrat congress and a Democrat president let the Bush tax cuts expire in 2011 — so don’t be fooled by Obama’s shell game with your tax dollars.
This next video spells it out and is hilarious, so I expect the Obamabots to get it flagged down at Youtube pretty quickly, watch while you can: