Obama's Deceptive, Massive Welfare Increases Called Tax Cuts
According to an article in New York Post January 6, 09, Barack Obama's stimulus package will likely take the form of so called "tax cuts" for 95 percent of all Americans. However, the majority of American voters would pay no federal income taxes but would be paid money from the government instead.
"Almost all of the 68 million tax filers in the country's bottom economic half would get a check from Washington at tax times. Some would be among the 22 million who get money from the Earned Income Tax Credit (EIC). Others would get a $500 check through the Child Tax Credit – and all would get funds through the new Obama tax credit" the article notes.
Thus Obama's stimulus package tax cut would basically be another huge deceptive step toward redistribution of wealth (socialism) in our country and "would transform the majority of voters from taxpayers into tax eaters – and leave an increasingly small minority to pay the bill….Taxpayers would be politically helpless and the tax-eating majority would have free reign to impose any levies it wished. "
The article notes that "Welfare would no longer be only for the poor – the majority of the voters would depend on government handouts. This very system is what makes European social democracies so resistant to change…For the economically well off, it could effectively become taxation without representation – which, as the founders of our nation warned, leads to tyranny."
The top twenty-five percent of taxpayers in the US pay 85% of the federal income tax and the bottom fifty percent pay only 3%. In 1980 the bottom fifty percent paid 7%; under Obama's new plan the bottom fifty percent would pay less than nothing!
Obama's plan will probably pull in more votes for the Democrats; but unfortunately his plan will finish destroying our economy. A few rich people will never be able to fund all the programs the Democrats are pushing for the masses.
Read the entire article in the Post at this link: http://www.nypost.com/seven/01062009/postopinion/opedcolumnists/tyranny_of_the_tax_exempt_147343.htm