Wednesday, October 22, 2008
I weep for the future ...
I took some heat for suggesting that B. Hussein Obama is the "most ignorant" presidential candidate of all time when it comes to economic issues. I ain't backin' down from that comment. And here's why:
Obama's on the record saying that his tax-raising schemes won't harm small business. Yesterday's lead editorial in the Wall Street Journal calls him on his -- the only eloquent way I can say it is -- ignorant lie. To wit:
Mr. Obama's tax increase would hit the bottom line of small businesses in [a couple of] ways. First, because 85% of small business owners are taxed at the personal income tax rate, any moderately successful business with an income above as little as $165,000 a year could face a higher tax liability. That's the income level at which the 33% income tax bracket now phases in for individuals, and Mr. Obama would raise that tax rate for those businesses to 36%.
Second, the Obama plan phases out tax deductions (the so-called PEP and Pease provisions), thus raising tax rates imposed on this group by another 1.5 percentage points. Finally, Mr. Obama would require many small business owners to pay as much as a four-percentage-point payroll tax surcharge on net income above $250,000. All of this would bring the federal marginal small business tax rate up to nearly 45%, while big business would continue to pay the 35% corporate tax rate.
Wow.
Let's delve a little deeper into B. Hussein's changin' thangs vis-à-vis taxes for a moment, shall we? When confronted 'bout his scheme to give "tax credits," i.e., redistributive payments to folks who effectively pay no federal income taxes, Obama says all Americans subjected to federal payroll taxes will be gettin' a "tax cut" when they get his "tax credits."
Anyone who buys that horse-hooey will also swear that the Lone Ranger rode a horse named Trinity United Church of Christ. Payroll taxes are extracted from each and every American's payroll check to fund the Ponzi scheme known as Social Security. So, when Obama talks about "tax-cutting" workers' payroll tax obligations, what he's really saying is that he's all for ensuring that the Social Security Administration has even fewer dollars to work with than it does now.
Jesus. Obama's not only in favor of running thousands and thousands of small businesses into the ground with his tax policies ... he's fully prepared to run Social Security (as if it needed more help) into the ground along with 'em.
To borrow a line from a famous mid-80s movie ... I weep for the future.
Obama's on the record saying that his tax-raising schemes won't harm small business. Yesterday's lead editorial in the Wall Street Journal calls him on his -- the only eloquent way I can say it is -- ignorant lie. To wit:
Mr. Obama's tax increase would hit the bottom line of small businesses in [a couple of] ways. First, because 85% of small business owners are taxed at the personal income tax rate, any moderately successful business with an income above as little as $165,000 a year could face a higher tax liability. That's the income level at which the 33% income tax bracket now phases in for individuals, and Mr. Obama would raise that tax rate for those businesses to 36%.
Second, the Obama plan phases out tax deductions (the so-called PEP and Pease provisions), thus raising tax rates imposed on this group by another 1.5 percentage points. Finally, Mr. Obama would require many small business owners to pay as much as a four-percentage-point payroll tax surcharge on net income above $250,000. All of this would bring the federal marginal small business tax rate up to nearly 45%, while big business would continue to pay the 35% corporate tax rate.
Wow.
Let's delve a little deeper into B. Hussein's changin' thangs vis-à-vis taxes for a moment, shall we? When confronted 'bout his scheme to give "tax credits," i.e., redistributive payments to folks who effectively pay no federal income taxes, Obama says all Americans subjected to federal payroll taxes will be gettin' a "tax cut" when they get his "tax credits."
Anyone who buys that horse-hooey will also swear that the Lone Ranger rode a horse named Trinity United Church of Christ. Payroll taxes are extracted from each and every American's payroll check to fund the Ponzi scheme known as Social Security. So, when Obama talks about "tax-cutting" workers' payroll tax obligations, what he's really saying is that he's all for ensuring that the Social Security Administration has even fewer dollars to work with than it does now.
Jesus. Obama's not only in favor of running thousands and thousands of small businesses into the ground with his tax policies ... he's fully prepared to run Social Security (as if it needed more help) into the ground along with 'em.
To borrow a line from a famous mid-80s movie ... I weep for the future.
# posted by Joltin' Django @ Wednesday, October 22, 2008 
