Much has been said about Sen. Obama’s tax plan with its magic numbers of $250,000, 95 percent, etc., however, there are some missing details that need to be addressed. Why $250,000? Where did that number come from? More importantly, what is to keep him from lowering that number in the future?
Also, as far as small businesses go, is that before or after expenses? That makes a huge difference in how many companies will have taxes increased or cut.
He says that 95 percent of Americans will see a tax cut. If you think you fall into that category, think again. Take Wal-Mart for example: It’s obviously a large corporation so it can expect to see a large tax increase. Any business is going to try to offset the cost of this increased burden by raising prices on goods or services. So, if you are struggling to pay the bills and you shop at Wal-Mart you are going to pay more for those items.
This is going to affect everyone, but it is the poor who will feel it the most. Obama said he wants to redistribute wealth from the rich to the poor. This is called socialism. He may think of himself as Robin Hood but this is America and we fight against socialists – we don’t embrace them.
Scott Jones
Levant
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