From Steve Moore at the Wall ST.Journal
The Wall Street Journal's Steve Moore has done the math on Obama's tax plan. He says it will add up to a 39.6 percent personal income tax, a 52.2 percent combined income and payroll tax, a 28 percent capital-gains tax, a 39.6 percent dividends tax, and a 55 percent estate tax.
Some of Senator Allards Fiscal responsibility statement,
Senator Obama has offered 188 proposals that would add up to $300 billion in annual spending.That has a 5 year cost of $1.4 trillion.
Of the 188 proposals the $300 billion price tag covers only 111.There are 77 with unknown cost estimates that will add billions more.
This new spending would represent a 10% increase over the Presidents 2009 budget.
This spending proposal would cost more than 42 states budgets combined.It is more than the United States spent last year on imported oil(4294 billion).It is 60% larger than any one year federal spending increase,EVER.
Who will pay?Middle class american taxpayers and small businesses.Raising taxes on just the rich wont cover it.
Senator Obama has promised to pay for this record new spending by raising taxes on families making over $250,000.That increase would only cover $225 billion over 5 years,a far cry from the $1.4 trillion needed.
This is very scary stuff.Obama has no experience running a government,not even a state.He will have us all in the poorhouse with his ideas.More bad assosiations cropping up in the last few days,he does not even pick a good quality or character of people to surround himself with.We can not afford to have this kind of man as our president.
To read more of what it would cost to have Obama for president
http://www.rossputin.com/blog/media/allard_obama_spendorama.pdf
but...warning,it may cause nightmares.
recommend this
email
print
link to this page
Comments: 11
Meanwhile, the truth is, Obama is proposing tax CUTS for all but the upper 5% income earners, exactly the opposite of what the fearmongering reichwing is claiming.
Oh, and speaking of deficits, republiCON presidents have driven this nation nearly $10 trillion in debt over the past 30 years, including a near doubling of debt over just booshie's disastrous two terms. Since McSame is introducing himself as the candidate to be booshie's third term, we expected to hear of yet more deficit spending, and he hasn't disappointed. Not only will he dramatically increase spending, but he will also FURTHER reduce taxes on our millionaires. At a glance, we know that his idiotic economics plan will drive the nation ANOTHER $300 BILLION (minimal) into the hole every single year, on TOP of our current $300-$500 BILLION annual deficit under failed booshie economics policy.
Want fear? Look no further than the possibility of yet another 4 years of massive republiCON failure of governance. The GOP is simply incapable of managing a budget or governing a nation. They have proven themselves over the course of the past several decades of being utterly incapable of anything but vast corruption, abuse of power, massive expansion of the federal government, and gluttonous, wasteful, tragically harmful debt spending. They fully deserve to be benched for at least a generation, while democrats try to clean up their messes.
Patti is either a liar, and has been a republiCON all along, or she's a racist.
Yes folks, take it from the voice of the wealthy: "You little folks are really going to get screwed by Obama."
I'll grant you that he's not half as deceitful or tied to the corporate masters as she is, for sure. However, that fact doesn't justify you changing positions 180 degrees and suddenly being in support of a candidate who is diametrically opposed to everything that Hillary stood for in her campaign.
If you're not a liar or a racist, you're a fool. Nothing else could explain someone voting entirely against what they claim to be their own ideals like this. If you supported Hillary's ideals, you should be supporting Obama's, because they're virtually one and the same.
Being a racist is one of those thing nobody can really say "I am not." Reality is more than half of the racists don't know they are. If you however line up the list of statements, positions taken, words uttered over the course of five years, they would be shocked.
Facts are stubborn.
And Clark,your comments make me laugh.You are always reliably nasty.You must be a 20 something male,the right age to always imagine that what you think is right and anyone that doesnt agree is wrong or ignorant.
I believe Hillary would have been a good president.She is strong and capable and would have surrounded herself with experienced people.
Mccain is a nice man,also capable and experienced and can keep our country safe for 4 years until a better dem candidiate comes along.I am a concerned citizen first and a democrat second.
The financial gurus are predicting sell offs in January to enable investors to pay taxes under the 2008/9 pre increase rates. Not a single financial talking head of either political party is predicting an Obama bull market based on his stated goals.
It is interesting of Clark to point out Clinton's tax increases as that one; tended to slow investments and also as some of the increases hit on SS, to hit poorer citizens proportionally heavier. While such tax increases did not produce disaster, they did produce sluggish investment rates and a marked increase in outflow of capital to foreign/US Treasury investments--the standard places in uncertain economic times.