I do not usually post on politics. I enjoy debating and following politics but there is so much coverage out there, I just do not have anything different to say on the subject.
The below article, from the Wall Street Journal, goes into Obama’s plan for tax increases, cuts and program expansions. If you do not read the Journal, well…you should.
I wanted to just say that I am worried (sacred more like it) about Obama’s tax plan.
Overall, the bottom 60% of income earners pay less than 1% of federal income taxes on net. When “tax credits” primarily go to this group in the form of checks from the government (rather than a reduction in their tax burden) it is simply an abuse of the language to call the spending a tax cut.”
I cannot wait for some in depth analysis on McCain’s plan to see if he will be a “tax and spend” or a “fiscally responsible” President if elected. At least, Obama’s position is now set in my mind.