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I received the following from the same source I used for my previous post McCain, Obama and Clinton: How Their Tax Changes Will Affect YOU, If Elected. Yes, some of those programmes might seem worthy, but where do you think all that money will come from? $874.35 BILLION worth, to be exact. No wonder he will need to raise our taxes so heftily!
And although he claims he won’t raise taxes for us working, middle class shlubs making under $200,000 to $250,000 annually, I wouldn’t bet on it. He has already said he will consider doubling the capital gains tax from the current 15% to 28%. And who do you think that will affect? Some 100 million middle class families! And all this in spite of the fact that, historically, the lower the capital gains tax, the higher federal government revenues are.
When Charlie Gibson, moderator for the Democratic Debate in Philadelphia, kept questioning him about this fact, Obama with his usual deftness conveniently evaded the questions. The Wall Street Journal says it best:
“Either the young Illinois Senator is ignorant of this revenue data, or he doesn’t really care because he’s a true income redistributionist who prefers high tax rates as a matter of ideological dogma regardless of the
revenue consequences. Neither one is a recommendation for President.”
And now...drum roll....
YOUR TAX DOLLARS AT WORK UNDER OBAMA
Obama Will Provide $1.5 Billion To Help States Adopt Paid-Leave Systems.
“As president, Obama will initiate a strategy to encourage all 50 states to adopt paid-leave systems. Obama will provide a $1.5 billion fund to assist states with start-up costs and to help states offset the costs for employees and employers.” (Obama For America, “The Blueprint For Change,” http://www.barackobama.com/, Accessed 1/14/08, p. 15)
Obama Will Provide $1 Billion Over 5 Years For Transitional Jobs And Career Pathway Programs, Equal To $200 Million A Year And $800 Million Over Four Years.
“Obama will invest $1 billion over five years in transitional jobs and career pathway programs that implement proven methods of helping low-income Americans succeed in the workforce.” (Obama For America, “The Blueprint For Change,” http://www.barackobama.com/, Accessed 1/14/08, p. 42)
Obama Will Provide $50 Million To Jump-Start The Creation Of An IAEA-Controlled Nuclear Fuel Bank.
Obama: “We must also stop the spread of nuclear weapons technology and ensure that countries cannot build — or come to the brink of building — a weapons program under the auspices of developing peaceful nuclear power. That is why my administration will immediately provide $50 million to jump-start the creation of an International Atomic Energy Agency-controlled nuclear fuel bank and work to update the Nuclear Nonproliferation Treaty.” (Sen. Barack Obama, “Renewing American Leadership,” Foreign Affairs, 7-8/0
If Sen. Barack Obama (D-IL) Could Enact All Of His Campaign Proposals, Taxpayers Would Be Faced With Financing $874.35 Billion In New Spending Over One White House Term:
$874.35 BILLION....
In NEW Spending Over
ONE
White House Term
For the reasons above, I feel that the article is a bit unfair on Obama.
2. He would spend more on welfare projects like help states adopt paid-leave systems, etc.
3. For the extra money he will make the Federal Bank to print more bills.
4. This will mean higher inflation, lower dollar value, higher debt etc.
End result = Total disaster.
Lauren, why only Obama? Because he would be a disaster of a president. He is as left as they come, and tell me one leftist country that has prospered? Hillary proposes to raise taxes as well.. but not to the extent that Obama claims he will. And McCain has no intention of raising the Capital Gains taxes.. which is just fine with me.
