Obama's New Tax Plan Goes Under Attack
Watch: Obama's New Tax Plan Goes Under Attack
Barack Obama's tax plan continues to go misunderstood, and MSNBC spins it like you wouldn't believe! Why does the mainstream media believe Obama's tax plan is controversial? Watch the clip to find out!
- FILED UNDER: Guest Blogger, Barack Obama, Elections, Taxes
- August 20, 2008








I don't get it...a refundable tax credit *is* welfare...
Refundable tax credits are by no means the same as a tax cut, and their purpose is to be an alternative to welfare in many cases, i.e. the earned income credit. This is universally understood. For him to say that he "didn't see this one coming" is quite disingenuous, unless he is truly that ignorant.
Then to imply that tax cuts for the rich are somehow also welfare makes zero sense. If you pay $30,000 a year in taxes, and then thanks to a tax cut only pay $25,000 of *your own* money, how is that welfare?? You have the right to the fruits of your labor, do you not?
Before the income tax was instituted, Americans had the highest standard of living in the world, meaning that most people *did not need* welfare. Plus, we did (and still do, well, except for Democrats) have very high rates of generosity as far as donating to charity. Low/no taxes is very good for the economy which means everyone benefits...even JFK understood this!!
And I am one of the people that will benefit from these "tax cuts" FYI.
- parent
By austrianeconomistAugust 21, 2008 - 5:57pm