More Spin: Now Obama Says That He Will Give A Capital Gains Tax Cut To Small Business Owners

10/1/2008 | Laissez-Faire Capitalist

[Laissez-faire capitalist]

First Barack Obama said that he would give tax cuts to 95% of Americans and would raise taxes on those making over $250,000 per year.

When this was exposed as being mere political fluff and void of any real substance (since 40%+ of Americans don't pay any federal income tax), Obama rolled out the usual spin and said that he would give a tax cut to 95% of Americans who pay federal income taxes. But he continued to say that he would raise taxes on those who make more than $250,000 per year.

When it was exposed through various media outlets that over 2/3 of small business owners make more than $250,000 per year, and these small business owners employ the majority of Americans, Obama shifted his rhetoric - again - to saying that he would cut Capital Gains taxes for small business owners. On MSNBC today - during a televised rally - Obama said that he was going to cut Capital Gains taxes for small business owners.

Problem is, is that under an Obama Administration, when small business owners who make more than $250,000 per year file their taxes, they would still not have a cut in their federal income taxes.

Obama's tax plan continues to show that Obama would cause legions of small-business owners to have to lay off and/or fire millions of Americans. Simple as that.

Tax the rich?

No, tax the small businesses of America.

Obama: Idiot.

[Inyokern]

I don't think he has a clue of what he's talking about.

More likely he is cynically proposing something that sounds good but will not actually lower anybody's taxes. Unfortunately, the reporters (and most of the public) do not realize how worthless this proposal is.

[graywaiter]

Yeah, but he's stupid to think he won't get outed on something this idiotic. I agree, most people wouldn't know a capital gain if it sat in their lap; only “evil rich people” get them, but there are enough competent people to bust him on this one.

sigh... the damage is done. Nonbusiness people won't have a clue. This is what will happen when/if they do bust him on it. He will say something about being misquoted or that he was actually speaking of raising the section 179 deduction. Which will only help if you're in the market for new vehicles or equipment....you have to SPEND money to get the “tax cut”.

[graywaiter]

Yeah, but he's stupid to think he won't get outed on something this idiotic. I agree, most people wouldn't know a capital gain if it sat in their lap; only “evil rich people” get them, but there are enough competent people to bust him on this one.

sigh... the damage is done. Nonbusiness people won't have a clue. This is what will happen when/if they do bust him on it. He will say something about being misquoted or that he was actually speaking of raising the section 179 deduction. Which will only help if you're in the market for new vehicles or equipment....you have to SPEND money to get the “tax cut”.

[okokie]

if you own a business its a good time to sell-if you are a doctor good time to retire-

[unspun]

It appears that Barack Obama will be in a hurry to drive America into an impossible budgetary load, in keeping with the Cloward-Piven Strategy of his inner circle.

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Download Interview of James Simpson by Sandy Rios, Tuesday 9/30 - WYLL 1160AM, Chicago, IL
From http://www.culturecampaign.com/culturecorner.aspx

James Simpson is the former White House economist who has just published "Barack Obama & the Strategy of Manufactured Crisis" on AmericanThinker.com.

Simpson lays out the positioning of Barack Obama relative to the neo-Marxist plans of Saul Alinsky and Obama's implied relationship to the "Cloward-Piven Strategy" of generating national, financial crises, in order to turn the nation toward strict socialism.

[graywaiter]

I hear you. I'd be tickled to sell it tomorrow, but I have 7 employees that need to keep working. My oldest son has shown an interest in taking over after college, and my DH would go bonkers if he had to retire. He'll work until he dies, because he can't sit still. I've even tried to get him to pursue something different that he loves, (pyrotechnics) but with the economy dragging, people will be cutting out things like fireworks displays.

[newnhdad]

political doubletalk. he can't possibly give away everything he says he will. Just like Clinton, he will promise a lot, get into office, claim it's more screwed up than he ever knew and raise taxes on everyone that pays “because he has no choice”..
It's this nonsense that should steer people away from dear leader but instead, we have parents programming their kids, schools indoctrinating them into worshiping and deifying a mortal man, but they disallow the mention of the word God on public property. They will be singing songs and performing gymnastic feats in celebration on the blessed day of his birth.