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“Obama: Recession could delay rescinding tax cuts
http://news.yahoo.com/s/ap/20080907/ap_on_el_pr/obama_3
WASHINGTON – Democrat Barack Obama says he would delay rescinding President Bush’s tax cuts on wealthy Americans if he becomes the next president and the economy is in a recession, suggesting such an increase would further hurt the economy.”
Now what in the world is Mr. Obama saying here? He won’t rescind the tax cuts? Aren’t tax cuts when the federal government takes less money from people’s wallets? And tax increases, or rescinding the current tax cuts, means the federal government is taking more money from people’s wallets. Me thinks Mr. Obama has it all wrong here surely. Surely he wants more money in the federal treasury instead of continuing with less. And especially during this recessions. But no, he is claiming that such an increase (in taxes) would further hurt the economy”.
No better endorsement of the “Bush tax cuts” could possibly be made than this proclamation of intentions by Barack Obama, Democrat candidate for President of the United States. No greater admission that these tax cuts are working and have indeed increased federal revenues as President Bush said they would than for the Democrat’s nominee to declare his intentions of keeping them in effect rather than rescinding them immediately after taking office.
The reviled by Democrats “Bush tax cuts” are set to expire in 2011 and are the tax cuts Mr. Obama is talking about here. The “Bush tax cuts” for the “rich” the Democrats have howled about for almost 8 years now. What are these tax cuts for the “rich”? They are : the Economic Growth and Tax Relief Reconciliation Act of 2001, the Job Creation and Worker Assistance Act of 2002 and the Jobs and Growth Tax Relief Reconciliation Act of 2003.
Were they tax cuts for the rich? Well this is what they did: decreased all tax rates, reduced the capital gains tax, increased the child tax credit and eliminated the so-called “marriage penalty”. And they worked as they were supposed to work! Check out the federal income from taxes during these years from the government tables and you will see how well they worked.
Now Democrats are trying to say the current recession was brought about by these tax cuts. Mr. Obama has said it on several occasions that I have heard myself and I have made it my policy not to listen to him since my first exposure to his rousing “say nothing, propose noting and do nothing” speeches made early in this unending campaign for president. I did listen to his famed speech before 80,000 made at the DNC and discovered that over the intervening months since I last heard him he hasn’t changed his tune. But hey, why change what is working to make him the latest rock star?!!
People, rock stars are not elected to run the business of the country; leaders are elected to run the business of the country. Mr. Obama has shown himself to be so lacking in leadership abilities that he can not even speak of the leadership actions he would take as president. He is however a bright man and a fast learner who apparently is quite able to recognize a leadership action that has been taken and is indeed working. Sooooo Mr. Obama will “delay rescinding the tax cuts”. (The reviled Bush tax cuts!) BB
http://perotcharts.com/challenges/ This is Ross Perot’s charts on Suicidal Spending. Good source for checking income from taxes of all kinds after +the Bush tax cuts were enacted. You might also look them over very carefully to see just what the next presidents of the United States will have to face starting TODAY. It just may give you something to consider before you go off expecting the federal government to nurture you and yours from cradle to grave. BB
That’s not what he said. You should be ashamed at twisting the truth to the point of being a lie. So much for so-called “republican values”. But, then again, anyone paying attention knows that republicans wouldn’t know the truth if it bitch-slapped them upside the head
This is not what he said? Well pardon me please. Just what did he say then? What is the truth? Explain it to me. The Democrats, including Mr. Obama, have preached that these were tax cuts given to the “rich”. Then it stands to reason he would want to rescind them immediately upon taking office. But no, he is now saying that to rescind them and put more money in the treasury would be bad for the economy. How could taking money from the rich be bad for the economy? Could it possibly be that taking this money which is being invested by the rich to open more businesses and provide more jobs would be bad for the economy?
Well don’t look now but that is exactly what the Bush tax cuts were designed to do. And this is why Mr. Obama intends to keep them, because the economy needs jobs. I have yet to see anyone but the rich who have the money they are willing to take a chance on losing who can provide the money to create these jobs. Can you name me one instance where a poor or middle class person was able to start a business and hire people to work for them (or create jobs for poor and middle class people to work at to earn their daily bread)? BB