HE is a democrat. He will not cut anyone's taxes. Bush's tax cuts are due to expire. That means a tax hike for everyone. Obama will institute universal health care. That means a significant payroll cut for all employees who are not currently under some kind of payroll plan where they get health insurance. Small businesses will be bankrupted by having to institute the health care for all their workers regardless of whether or not those workers even care about it.
Obama will cut the military, which means that defense contractors will lay off workers and military personnel will be sent into the private sector where unemployment will likely to reach 10% in the next two years.
There is simpy not enough money for Obama's grand plans, so taxes will rise not only on the rich but on everyone. Usage fees and excise taxes and luxury taxes will be doubled or tripled, which will force luxury item manufacturers (like boat builders) overseas.
There is simply no way Obama is going to cut anyone's taxes. We are now Europe. When is the last time a Socialist European Country lowered taxes?
Brace for a depression.
I see that he must fulfill his promise.
If he does that immediately, and at a very low level, just so he can say he did it, THEN he can allow the Bush cuts to expire. I believe they start to expire in 2010.
As mentioned, the other way to get more cash is to pull out of Iraq and Afghan, and continue spending at that level.
So, he’s in a position of needing to be able to say that he did cut taxes. You and I can expect to see about $2.37. The poor check to the non-taxed will be in the neighborhood of 1-2 hundred bucks. He’ll seriously trim it.
As for me, I’m serious about wasting my vote yesterday on McCain. I should have voted for Baldwin. Billy Cunningham had it right all along. McCain wasn’t truly trying. He had chaos for an organization in Ohio. He held Palin back. He wouldn’t attack on clearly questionable associations. He refused to pick a fight over abortion. He refused to pick a fight over traditional marriage. He refused to propose more tax cuts. He couldn’t fight Obama’s spending, because his own CFR was killing him. He couldn’t bring up illegals, because he knew we’d walk away from him over it.