Spread the Wealth around.

One of the techniques for spotting liars is to look for contradictions. You have 0bama in his own words here telling the plumber what to expect from 0bama's plan. What you say about 0bama's plan is, as I recollect, correct. See a contradiction?

iriscot For starters Senator Obama's tax plan is to remove the Bush Tax Cuts, returning to the Clinton era tax rates, and then impose his tax plan. President Clinton Tax plan was to tax the wealthy and in the final tax structure the Wealthy was anyone making $60,000 or more. In 2006 those (top 25%) making $64,702 or more paid 86.27% of the taxes in 1999 those (top 25%) making $52,965 or more paid 83.54% of the taxes. This shows that after the Bush tax cuts the top 25% made more money and paid more taxes. If you look at the bottom 50% of the tax payers you find that in 2006 they made $31,987 or less yet they only paid 2.99% of the taxes. Compare this to 1999 when the bottom 50% made $26,415 or less and yet paid 4.00% of the total taxes paid. http://www.ntu.org/main/page.php?PageID=6 What this means is that under President Bush even the poor are making more money and paying a small portion of the taxes than they did under President Clinton. If the Bush tax cuts are not renewed then the tax rates revert back to those under President Clinton. With the tax plan of Senator Obama if you are in the bottom 50% and pay less than $1,000 in taxes you will receive a tax refund for the difference (Income redistribution). What will happen to the top end is their tax will increase and he is proposing increasing the Capital Gains tax for those making more than $250,000. Now a person who has money to invest will not take the risk because they will lose half of their gain in taxes. With out new investment capital business will not be able to expand and create new jobs. New jobs (investment capital) produces more tax revenue not less.

Who is this plumber? While listening to KMOX radio in St. Louis this morning the plumber thing came up. A plumbing representative from Toledo called in to the Charlie Brennen show and had quite a discussion with Charlie. I don't know whether Charlie is a republican or democrat. The representative from Toledo told the listening audience that Joe the plumber isn't a licensed plumber and there are no records that he belongs to the plummer's union. To operate as a plumber in Toledo, you have to be licensed. If you are working as a plumber for a large concern, you have to belong to the union. Something is fishy. So who is this guy, is he really a plumber? Or could he just be a McCain supporter and did this on his own or could he be a republican plant? If he is what he says he is, and if he buys the other guys business it is very unlikely that he will be netting over $250,000 in the business. If the person who owns the plumbing business and is making a profit that large, why is he trying to get rid of the business. It just doesn't make sense. I think Joe better take a short course in economics 101 so he will know the difference between gross income and net income. I'll be there will be some comments about this.

No, it is not. I heard 0bama talk about increasing the capital gains tax out of fairnesss. This in spite of George Stephenopholous pointing out to 0bama, that increasing the capital gains tax would reduce revenue to the government as a result from the decrease in jobs from lack of capital. 0bama said the issue was not about revenue to the government but about fairness. Instituting bad policy out of considerations of fairness, is exactly what Robert Mugabee was advocating before he came into power. Instituting bad policy out of considerations of fairness is exactly what Robert Mugabee did after coming to power. 0bama is currently not even as popular and well liked as Robert Mugabee before Mugabee came to power. People forget Mugabee was at one time viewed as an agent of hope and change that would bring fairness. Fairness has to be tempered with good business sense. 0bama, like Mugabee, does not have this good business sense. If 0bama does the same as Robert Mugabee, the results will be the same.

Robert Mugabee??!!! Are you serious, what kind of fearmonger is that, that is silly talk--

Now let's see... I am married with two children, between my full time job and my wife's part time job we make less that 27,000 a year. Under McCain's plan I would get a $5000 dollar tax credit. That wouldn't do me a bit of good as I don't make enough money to use it. So, I don't get anything as a tax benefit from McCain's plan. There are a large number of American citizens that are in the same boat as me. They are hardworking, they don't ask for any sort of aid from the government, all they want is a fair shake! The wealthy oil barons are taking so much money out of the economy with the high prices on gasoline that most people can't pay their mortgages and medical bills and have barely enough to feed their families. It's been a known fact for decades that the republicans are more concerned about piling up their gold that they are about the majority of citizens, especially the struggling poor. The democrats have always tried to help the working class. Sorry laglen but that was a stupid comment. Some people are concerned about where the money will come from to get things back on track. One place is to get out of Iraq, everyone should be able to remember that Bush and Cheney said that the oil coming out of the ground in Iraq would pay for the war. Iraq has a money surplus right now due to the oil fields, but who is paying for the war? The American citizen! It's kind of ridiculous that we borrow money for China to support the war and our economy. I don't know what happened to the "gold standard" that we used to operate under.

Only do that if you're interested in starting a new career. Haven't you heard of Welfare to Work? The upside is that you can get free training but the downside, I would imagine, is that you would carry the stigma of being that "welfare person" in your new workplace.

Senator Obama has said he will nor renew the Bush Tax Cuts. This means that you will get a tax increase before he applies his tax cuts. The people who pay little or no taxes (the bottom 50% of income earners) will get a check for the difference between $1,000 and the tax refund they receive. The mistake he is making is that he is assuming that the people at the top will report the same income, or more, as now. He is proposing that the Capital Gains tax be increased from 15% to 25 or 30% and that the top tax rate go form 35% to 39.4%. If I have $10,000 to invest and I invest it in the stock market and I realize a gain of 9% on that money I will have made $900 on my investment and I will pay $450 making my net gain 4.5%. Under Senator Obamas plan that $900 gain would pay a tax of $579.60 making my net gain 3.56%. I could take that $10,000 and invest it in tax free bonds and make 4-5% tax free. I would be making about the same with much less risk but the government would take in less tax money and there would be less investment capital to create new jobs. Net result to raise the money needed he will have to do what President Clinton did with his tax cut and that is to move the line for the very rich to a much lower income level, which for President Clinton was $60,000. He would also have to put a limit on his $4,000 tax credit for college tuition to keep the program from bankrupting they taxpayers. His plan sound good until you look at the reality of it. People at the top are going to invest and work to create more wealth and as a result create more jobs and more tax money for the government. Higher taxes for them restricts their ability to increase their wealth and thus fewer jobs are created and higher unemployment. One final thought When the income tax was proposed it was aimed at only the wealthy. If you are paying income taxes you must be wealthy.