Friday, October 10, 2008

Obama Policies Could Lead to Abject Poverty

Obama wants to raise taxes, this is not a myth. He lied about a net spending reduction. The worst thing to do going into a recession is to raise taxes. Ronald Reagan was in a similar situation and he CUT taxes on the rich. Look, Obama wants to give taxes back to people who do not pay taxes, that is welfare, and it is not sustainable.

You could argue that people who make below a certain amount should pay no federal tax. Now, I wouldn't argue you, but you could. How do you argue for somebody who makes $20k a year, pays no taxes and at the end of the year gets $600 back?

Obama wants to raise capital gains taxes, raise social security taxes(I cannot even tell you how unfair this is, since benefits max out at a certain point), corporate taxes and taxes on the "rich." Now, this means investment will go down, and employers will have to make up for the costs of the new taxes, so they will cut jobs.

The New Deal was a sham and did nothing to help the United States. Obama wants another New Deal.

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