Fact: Obama Cannot Cut Taxes For 95% Of Americans
Oct 8, 2008
One thing the McCain campaign is not attacking nearly hard enough is Obama’s “tax cut for 95% of Americans” nonsense. There was a good discussion of it today on CNBC:
Remember that some 47% of Americans have no income tax burden. In order for Obama to give those Americans a “tax cut” he must literally write them a check from the government. A check that’s only going to be in the mail once, at that.
That’s not a tax cut. You can’t cut taxes for people who don’t pay them. If you want to cut taxes you must cut them for people who actually pay them. And, frankly, that means Americans at the top of the income brackets who pay the most in taxes.
But that would mean “tax cuts for the rich,” which doesn’t fit in at all with Obama’s wealth redistribution rhetoric. Tags: Domestic Issues, Politics