Obama Really Will Raise Taxes On Americans Making As Little As $50,000/year

  •  October 29, 2008

Obama’s been lowering the bar on his tax plan. Where he once claimed that only Americans making over $250,000 would see tax increases, he’s now down as far as $200,000 and maybe even $150,000 if his running mate Senator Foot-In-His-Mouth is to be believed.
But one aspect of Obama’s tax plans have been ignored. See, Obama and his comrades are also promising to let the Bush tax cuts expire. If that happens, we’d see massive tax increases for Americans making as little as $50,000/year.
So how does Obama get away with claiming that nobody under $250,000, $200,000, $150,000/year? Because Obama and the Democrats don’t consider letting the Bush tax cuts expire a tax hike.
Despite the fact that if they expire people making as little as $50,000/year would see a tax increase of about $1,512/year.

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  • http://bullwinkleblog.com/ Bullwinkle

    Obama can even make his coming tax hikes retroactive, Bill Clinton did!

    The second event that inspired me to write the book was Bill Clinton’s retroactive tax increase in 1993. In fact, as I learned, as retroactive tax increases go, Clinton’s was not so bad and certainly not unprecedented. There have been far, far worse retroactive tax increases. Because I am speaking with Hill staffers, and you all love anecdotes, let me offer a few.

    snip

    At least three lessons emerge from these stories: First, that Congress is at fault for the imposition of retroactive tax liability, although, in every case, it was a Democratic Congress that imposed such a tax; second, the courts cannot be relied upon to protect people from retroactive tax increases; and third, just because a law may be constitutional doesn’t mean that it’s just or right.

    Read the whole thing and you’ll see what’s probably going to happen with an Obama administration.

  • Bat One

    Obama will make permanent the Bush cuts for everyone making under 250k.

    This is pure bullshit!

    Even if this was a documented part of the Obama Tax Plan (it isn’t!), there is still the precedent of the last Democrat to reach the White House, who promised tax cuts for over a year, then raised taxes as soon as he was inaugurated.

  • http://ndgoon.blogspot.com/ goon

    For a married family, filing jointly and earning $75,000 a year, this increase will be $3,074.

    My family can’t afford that rate, it will actually be higher. This is why we need to reject NOBAMA.

  • John K

    Was there ever any doubt? There are none so blind as those who will not see.

  • jpe

    Obama will make permanent the Bush cuts for everyone making under 250k.

    It’s been how long and yall still don’t understand that? Cripes.

  • http://www.bikebubba.blogspot.com/ Bike Bubba

    I’m calculating about a $3000 increase from the Obama tax cut. P*&()&)(&*!

  • JazzyKat

    jpe

    Obama will make permanent the Bush cuts for everyone making under 250k.

    It’s been how long and yall still don’t understand that? Cripes.

    jpe – you’re living in la la land under the hypnotic trance of a pathological liar. Obama already lowered that figure to $200,000 in the 3rd Presidential debate…or did you not watch it?

    Biden further lowered it to $150,000. Maybe foot-and-mouth disease, he’s known for that…but before Obama gets through with all his spending plans to give those who don’t work a bigger welfare check, those tax cuts given by Bush will disappear for the middle class…MARK MY WORDS!

    You people are so naive and just plain stupid. Democratic politicians think American’s are dumb because their base IS DUMB! Here’s a news flash for you – the Conservative base is not dumb, nor stupid…we stay informed, read between the lines and connect the dots and American’s will get royally screwed by an Obama Presidency! You will know it when your paycheck dwindles (if you even work)!…We already know it!

  • di butler

    Actually, during the early campaigning he stated “anyone under $300,000.” It has been slowly dropped and will continue to drop. I suppose if you already live on government handouts or like the idea of giving people who are too lazy to support themselves handouts, this plan is great! If I want to give someone something, I prefer to choose who to give it to. It makes me sick to picture a bunch of sloths collecting a check from my tax dollars. I thought BO’s whole life story was of someone who came from nothing to get educated and worked to make something of himself and now we have our first chance for a black president. If he could make something of himself, how come everyone else is not expected to do the same??

  • mplsbob

    I tell all my friends and coworkers who are voting Obama to write down their pay stub before an Obama presidency and watch it magically shrink after if that Socialist gets elected.

  • Bat One

    Anyone who believes a Democrat candidate’s promise to cut taxes is a pluperfect fool!

    Cutting tax rates has resulted in increased economic growth every time its been done. Harding, Coolidge, JFK, Ford, Reagan, Clinton (forced on him by a GOP Congress!) and Bush 43, all initiated tax rate cuts, and in each instance the economy grew. Increased economic growth means more independence from government and less dependence on government… a situation which is anathema to Democrats.

    Which explains why anyone who believes a Democrat candidate’s promise to cut taxes is a pluperfect fool!

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