Put your hand in your back pocket. Take out $600 and then put the $600 in your front pocket. Don’t you feel better! This will stimulate the economy and create goodwill for the Republican party. Good job, W, that makes sense.
There’s a problem. The action that will stimulate the economy is increased production (growth) not a government handout. This is not new money it is the redistribution of money already collected as taxes or an obligation of the government to collect new taxes and give the money to someone else. With 100% consistency nobody has called Mr. Bush a genius. Who gets the bonus is based entirely on income. Mr. Bush is creating entitlement classes based upon income and not including the higher income class which is an interesting thing for a Republican to do.
This logic (the decision who gets what because they “need” it AND it will stimulate the economy) is what Obama wants to use to raise the capital gains tax rate to 50% – to make it “fair”. If you have any plans for investing money and making a decent return keep in mind Obama will take the first 50 cents of every dollar profit on top of basis when you sell (generally) because the teacher and fireman (his example) will not have the same opportunity to make money (capital gains) because they don’t earn $100,000.
OK, let’s take his word for it and look at it.
Since Obama is talking about taxes here you have to consider the reality that many households with two incomes file one tax return. So, Obama’s claim that the income is less than $100,000 is not true – many municipalities pay their captains serving in the fire department more than $50,000 per year. Add that income to a teacher spouse with a little tenure and you go over $100,000 quickly. Then tack on the state and federal entitlements, bonuses and retirement benefits paid to teachers and firemen by other tax payers for doing a job they chose but not matched in the private sector and those teachers and firemen have a champion to vote for (Don’t get me started on firemen working a “full-time” week in 3 days and then running full-time second businesses which are, in effect, subsidized by tax payers to compete against other businesses). I know two firemen in Oklahoma City who own rental property, make more than $100,000 and do not like Obama’s plan.
If tax money is going to be the deciding issue I’ll vote for John.
What am I doing with $600? Nothing. I’m paying for the entitled ones who will stimulate the economy by filling up their gas tanks, pay down their cell phone bills and buy a PSP or Wi. Good job, W!
Mars out.
April 26, 2008 at 12:47 pm |
cutting spending and having the government print and borrow less would probably be better for the economy but then how would the President and the congress buy your vote. It is very clever of them to use your money to buy your vote. But wait, sure that trick would only work on the stupid…Oh yeah