Somebody told me that Obama’s 95% income tax cut was only a one time rebate, rather than a reduction of rates. Is that true?
However, he is going to raise taxes on everyone who makes $250K + a year so he can give the welfare recipient a bigger tax refund. Most small businesses file as an individual so your boss will have a tax increase on his business so he will pass that on to you and his customers by raising prices and laying you off.
Now the welfare recipient has to spend their "tax refund" to pay for all the things he/she got cheaper before they got a tax cut plus they're are more of them out of work.
More people out of work means the Government has to raise more money to give food stamps to all the newly unemployed so Obama raises taxes again, causing prices to go up again and more people losing their jobs. Pretty soon we will all be out of work completely dependent on the government and Obama and his ilk have their socialist society.
Then there's the capital gains tax..If you make money we are going to punish you. So the rich say screw it, I won't make anymore money, I'll just keep what I got. No new investments, no new jobs, no reason to put money into R&D to make things better and cheaper, no need to make things more efficient because that will make money....the cycle goes on and on.