I would rather he not cut taxes on anyone than implement his plan. Cutting taxes on most people while raising them on the top 5 percent is pure wealth redistribution. Obama’s telling most Americans they can have both lower taxes and more programs and that the bill will be passed on to other people. At least if he doesn’t lower their taxes they’ll realize bigger government does in fact have a cost.
Tax rates are already set for next year.
Obama cannot affect tax rates until 2010.
My point was not about what he will or wont do to tax rates.
My point was that even at the current tax rates, the federal government is not going to have enough money to run itself.
We are talking about decades of wealth building that will be reported as losses in a single year. Can someone please tell me how Obama plans on handling this one?
What happens to the inner cities and population centers when the welfare payments stop coming?