While pundits talk endlessly and badly about the debate (that CNN panel is ridiculous – isn’t anyone embarrassed to be there? They should be), I thought I’d look around and see what else is out there.
1)The NYPost talks about Joe the Plumber today. It calls Obama’s “economic plan” a wealth redistribution scheme.
Obama’s plan isn’t about sinking hooks into Wall Street CEOs and other fat cats, as he usually says. Fact is, there’s not enough of them to raise the cash necessary to finance his other grand plans.
No, to do that, he’ll have to go after ambitious working-class guys like Wurzelbacher – who’s been a plumber for 15 years and is looking to better himself and his family while just maybe creating a few jobs.
Heretofore, Obama has sought to paint himself as a tax-cutter – claiming he’ll slash taxes for 95 percent of Americans.
As we noted yesterday, that’s a flat-out lie – not least because nearly half of all tax filers pay no income tax at all. So how can he “cut” their taxes if they don’t pay any to begin with?
Answer: tax “credits.”
To wit, in part:
* A $1,000 “make work pay” credit.
* A $4,000 college-tuition credit.
* A $6,000 child-care credit.
* A $1,100 bump in the earned-income tax credit.
These aren’t to be income-tax deductions – which would be worthless to those who pay no income taxes.
These are to be checks from Washington – with the subsidies expected to grow to more than $1 trillion in 10 years.
That’s a massive transfer of wealth.
How does Obama justify it?
“Fairness,” he says.
But that’s an absurdly radical view of what’s “fair.”
Interesting comment found:
BTW everyone how is BOs 4000 dollar credit for college any different than the one already in place. I took it last year. It is called the college tuition credit of all things. I do not understand how this is a new deduction.
Another: It is new because now you have to volunteer for service to get it.
Wow, how slick and manupulative..Obama, your pants stay on fire…problem is, most people don’t know it yet. Guess Obama will take a lot of credit for ed-u-ca-tion! Right!