Obama's Lunatic Tax Plan

As Obama prepeares his inaugural speech, lets talk about his lunatic tax 
plan

October 25, 2008 by PUMA Pundit

You read the first part right, Obama is so certain that he shall buy the 
Presidency that not only is he preparing his transition team, he even has 
a draft of his inaugural address ready

     Mr. Obamas transition team is led by a former White House chief of 
staff, John D. Podesta, who has been preparing for the task at the 
research organization he runs, the Center for American Progress, since 
long before it was clear who would win his partys nomination.

     Mr. Podesta has been mapping out the transition so systematically that 
he has already written a draft Inaugural Address for Mr. Obama, which he 
published this summer in a book called The Power of Progress. The speech 
calls for rebuilding a grand alliance with the rest of the world, bringing 
troops home from Iraq, recommitting to the war in Afghanistan, cutting 
poverty in half in 10 years and reducing greenhouse gases 80 percent by 
2050.

Having said that, lets look at what he promises to do if elected:

  Universal, guaranteed health care.

  Free college tuition.

  Universal national service (a la Havana).

  Universal 401(k)s (in which the government would match contributions made 
by low- and moderate-income families).

  Free job training (even for criminals).

  Wage insurance (to supplement dislocated union workers old income 
levels).

  Free child care and universal preschool.

  More subsidized public housing.

  A fatter earned income tax credit for working poor.

Wealth redistribution at its best, but what does this mean in simple terms 
based on his own policy proposals?

The Urban Institute and Brookings Institutions Tax Policy Center (TPC), 
Barack Obama has promised $1.32 trillion. He says hell do this in 
conjunction with a middle class tax cut that shall affect 95% of American 
households.

Since there are approximately 100 million households according to the 
Census Bureau, the unnafected 5% would equal 5 million households. In 
other words, the top 5% of 100 million households will fund all new 
spending.

Dividing $1.32 trillion in new spending among 5 million households means 
each household shall have an average tax increase of $264,000. If you 
believe this is truly how things are going to play out, youre probably a 
person who believes Obama is a guy who is as pure as the morning snow

Reality is that if Obama is elected ends up stealing/buying the election, 
everyone who works can expect humongous tax increases and the 18% 
inflation this country experienced under Jimmy Carter would pale in 
comparison to what well get undr Obama.

incidentally, Obama has proven how adept he is at using other peoples 
money, even going as far as spending $293,000 per hour on advertising in 
the month of October. Just wait till he gets his hands on your tax 
dollars.

pointer:
http://www.puma08.com/

Join PUMA
Follow link there to WSJ article, how Obama plans to raise money by 
raising your taxes...