Tuesday, October 14, 2008
OBama Admits His Tax Plan Increases Taxes
Is it any surprise that this finally comes out? Obama admits it in this clip that he's going to increase taxes to "spread the wealth around."
So how will this affect the small business owner in this clip? Yep, his taxes will go up so "those behind him" will have a shot at some of his "wealth."
Make no mistake about it: when the Government says they're going to increase taxes on "the wealthy" they're doing two things. First, they're playing class warfare. Everyone seems to want to "sock it to the rich" as a way to blame their own status in life not on their own lack of effort, but on someone else.
Second, when the Government aims at the "big guy" they invariably hit the little guy.
Simply put, wealth creates jobs. The government doesn't create jobs only money can do that. Consumption, starting up small businesses, hiring people - that all takes money. If the government were to do it, they'd have to literally print money to make it happen - then you'd see super-inflation as the value of the dollar decreases.
So those making more than $250k/year are going to pay more. What does that mean? Well, first thing it means is that those small business owners - who comprise the true job engine of this country - won't have the money to pay for an extra worker or two because the confiscatory policies of a potential OBama administration would tax that money away. Second, any "benefits" that employer may fund will likely be gone. That means cuts in medical coverage for example, or not funding 401K's. These are real, tangible benefits that in all likelihood would stop or be dramatically minimized under an Obama administration because Obama wants to "tax the rich."
I have but one word for Obama voters - suckers. I hope you're the first ones to lose your jobs, benefits and medical coverage for being stupid enough for putting the most inexperienced candidate ever to run for office, into the most powerful office in the world.