Posted on 10/28/2008 10:40:36 AM PDT by Jim Robinson
Dear John McCain,
As pointed out yesterday, Obama's plan to expire the Bush tax cuts means a tax INCREASE for 100% of all taxpayers regardless of how much or little they earn, even those who currently pay no taxes.
Most taxpayers will see an immediate tax increase as the Bush tax cut expires, and ALL consumers will see increases in the prices of products and services they buy as business will have to charge more for their products to make up for Obama's business income tax and payroll tax increases. This ill advised Marxist wealth redistribution tax increase scheme is inflationary and recessionary and will drive the already hurting economy even further into the ground.
Please argue the case to the public.
Nobama! No tax increases! No Marxist wealth redistribution schemes! No way!!
Thanks,
FreeRepublic.com
Bingo!
absolutely frightening!!!
Democrats and Obama Lie LIE LIE!!!
The stock market crashed so we need a socialist.
Oh come on. That reduction was the good folks at the government letting us have some of our money back for a period of time. They need to take it away from us for our own good again.
/s
This is what I have been sending:
The 2003 tax cuts included all incomes. Once Obama and the Democrats allow the 2003 tax cuts to expire, everyone's income tax will increase and their take home pay decrease: low income, middle income, high income, will all have an heavier tax burden when the 2003 tax cuts expire.
1) The entire federal income tax rates were reduced across the board for ALL incomes. When the 2003 tax cuts expire we all go back to the higher income tax rates of the year 2000. EVERYONE'S take home pay will decrease: low and middle income included. My household brings in about $90K/yr. The tax cuts allow me to keep $3800 more cash of my money per year. When the tax cuts expire, it will cost me $3800 per year. I cannot afford it! A household bringing in about $50K per year will lose $2500 - $3000 per year.
2) The earned income tax credit (EITC) was increased in both credit amounts and the yearly income up to $39K/yr. When Obama and the Dems expire the 2003 tax cuts, the EITC credit amount will shrink and only for those making in the high $20K/yr. These affects low income households severely. EITC http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=36
3) The child credit of $1000/child will go back to $500/child when Obama and the Dems allow the 2003 tax cuts to expire. This affects all incomes: low, middle, high.
4) The marriage penalty was eliminated with the 2003 tax cuts. When Obama and the Dems go back to the year 2000 tax codes, married couples will be paying higher taxes for being married. This affects all incomes: low, middle, high.
40 percent of Americans do not pay any federal income tax now.
BHO is fooling the silly voters .
This is a house of cards and the sheeple of this country is buying into it. Within two years we all be in soup lines under this marxist pig.
VOTE!!
Moreover, I have every expectation that the RATS will retroactively accelerate the expiration of these tax cuts to January 1, 2009.
If you were a member of Congress, particularly in the House, would you want to have this fight in March 2009, or March 2010?
Word.
this is the number one mistake that McCain’s handlers have made. They should have made this an issue from the beginning
What is so complicated about pointing this out on the campaign trail and what is with the 90% of Americans get tax cuts where 40% do not pay taxes????
Sorry, I have no contacts within the campaign.
Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:
The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3 The seventh would pay $7. The eighth would pay $12. The ninth would pay $18. The tenth man (the richest) would pay $59.
So, that's what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. 'Since you are all such good customers,' he said, 'I'm going to reduce the cost of your daily beer by $20. 'Drinks for the ten now cost just $80.The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers?
How could they divide the $20 windfall so that everyone would get his 'fair share?' They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay.
And so the fifth man, like the first four, now paid nothing (100% savings). The sixth now paid $2 instead of $3 (33% savings). The seventh now pay $5 instead of $7 (28% savings). The eighth now paid $9 instead of $12 (25% savings). The ninth now paid $14 instead of $18 ( 22% savings). The tenth now paid $49 instead of $59 (16% savings).
Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings. 'I only got a dollar out of the $20,' declared the sixth man.
He pointed to the tenth man,' but he got $10! "Yeah, that's right,' exclaimed the fifth man. 'I only saved a dollar, too.. It's unfair that he got ten times more than I! "That's true!!' shouted the seventh man. 'Why should he get $10 back when I got only two? The wealthy get all the breaks!
"Wait a minute,' yelled the first four men in unison. 'We didn't get anything at all. The system exploits the poor! 'The nine men surrounded the tenth and beat him up. The next night the tenth man (the richest) didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!
And that, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.
http://www.ktok.com/pages/mullinsinthemorning.html
The Oborgs claim that McCain is doing the same with the healthcare tax credit where there is a huge difference, but the McCainoids can’t seem to express this...
What was McCain’s position on pushing tax cuts that expire back then? Wasn’t there a mini dust up over McCain saying the Bush tax cuts were a bad idea? Obama gets to say he “didn’t have anything to do with it” although we all know he wants them to expire.
The problem IMO was the GOP playing such softball and not passing PERMANENT tax cuts when they had the chance. One thing about the Dems, they won’t hesitate to go for the jugular when they get a President and both houses.
McCain won’t bring this up because the media and BO will use it as McCain siding with the failed Bush yadda yadda yadda....
bingo!! I though I was theonly one mentioning that.
That should be front and center.
Excellent. Tagged for later.
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