Here's Barack Obama being interviewed by Bill O'Reilly on FoxNews. They are discussing taxation.
O'REILLY: But you want 50 percent [in taxes] of my success.
OBAMA: No, I don't. No, I don't.
Yes, he does. Yes, he does.
Obama would raise the top marginal tax rate to 39%, where it was prior to the Bush tax cuts. He would also lift the Social Security payroll tax cap, adding another 15.1% tax to those making over roughly $100,000. If you add it up, 39% + 15.1% = 54.1%. That is how much Barack Obama wants to take directly out of O'Reilly's success, and that isn't even counting the jump from 15% to 20% in the capital gains tax rate that Obama wants to institute.
O'REILLY: And then you want to raise corporate taxes.
OBAMA: No, I don't. That's not true.
Yes, he does. That is true.
Obama wants to start a windfall profits tax on the oil companies. Obama wants to close tax loopholes for business. Half of that increase in the aforementioned Social Security payroll tax is paid by the employer. For his health care plan, Obama wants to force business to either pay for all of a worker's health insurance, or pay a penalty tax to the government so the government can provide it (this is the gateway to the nationalized health insurance Obama really wants, as most companies will choose to rid themselves of the headache of dealing with health insurance and pawn it off to the government by choosing to pay the penalty tax). Obama would give small business a 50% health care tax credit, though to my knowledge, "small business" is not defined.
OBAMA: Well, but the problem is, if I am sitting pretty, and you've got a waitress who is making minimum wage plus tips, and I can afford it if she can't, what's the big deal for me to say I'm going to pay a little bit more?
O'REILLY: Because it inhibits…
OBAMA: That is neighborliness.
O'REILLY: Listen, if you raise the cap gains tax, that's going to inhibit investment. I won't buy as many stocks. And many, many, more people won't, OK, that's…
OBAMA: If we went up…
O'REILLY: It's going to come back to bite you, senator.
OBAMA: If we went up to a prohibitive rate, you're right. But…
"Neighborliness" ??? Now, I'm all for being neighborly. I let my neighbor borrow my lawnmower and my tools, but I'll be damned if I'm going to give Joe half my income. That's taking things entirely too far. Plus, I have a newsflash for Mr. Obama. It isn't only the rich who are paying half their income in taxes. It's us middle class folks as well. If I'm earning $60,000 per year, I pay about 20% federal taxes, 15.1% payroll taxes, 5% state taxes, 2.5% local taxes. That's 42.6% right there, and that doesn't take into account sales taxes, property taxes, and the hidden taxes that are included in the retail price of every product that I purchase. I call that prohibitive taxation, even if Mr. Obama doesn't.
Where does it end ? When do the taxpayers rise up and say 'enough is enough' ? The problem isn't that the taxpayers aren't paying enough. That hasn't been the case for decades and decades. The problem isn't that the government doesn't have enough revenue coming in. The federal budget alone is about $3 TRILLION, for chrissakes. Yet, we still have continual deficits. We have a $10 trillion federal debt. We have $50 trillion in unfunded entitlement liabilities. Our geniuses in Washington D.C. just put us on the hook for $5 trillion more by bailing out Fannie Mae and Freddy Mac. $200 billion of those loans are known to be bad. Our geniuses in D.C. bailed out Bear Stearns, putting the taxpayers at more risk. Then the geniuses in D.C. give us a stimulus package and pretend like they are helping us out. Well, guess what ? That wasn't paid for either. Guess who gets to pay for it ?? WE DO ! Now, they are talking about a second stimulus package, and that one won't be paid for either. Deeper and deeper we go into the hole, and here we have Barack the Changeman pretending that he's somehow different, when all he is going to do is what they all do, vastly increase taxes and spending more and more, which is the very thing that got us into this mess to begin with. Obama has no plans to balance the budget, by his own words. In fact, he doesn't even talk about that. What he talks endlessly about is investing (spending) in this, and investing in that. ENOUGH.
Obama represents change like a guy who has maxed out his credit cards represents change by getting more credit cards. ENOUGH.
No more new government spending until we solve the massive problems we face with all the previous government spending. To do anything else isn't change, it's insanity.
{ 27 comments… read them below or add one }
The current Republican administration, aided by a Republican Congress, have cut taxes in an historic manner. The last cut exclusively for the wealthier in our country. America is now living with the results of those Republican tax cuts. Naturally, truth has no meaning or application any longer, so mentioning all the negative economic results to our nation is futile.
If you are much better off now than 8 years ago and the country is as well, then 4 more years of the same will be a blessing.
Come to think of it, I didn't have an iPod eight years ago.
I still dont know why Obama went on O'Reilly. What good was going to come out of it.
Come to think of it I am better off. In fact my business has almost tripled and I have hired 4 new employees since then.
I now have health insurance and drive a nicer automobile. I have money in the bank and very little debt.
I have 1 question? I have worked 12 to 16 hours per day 6 days per week including 90% of the holidays for 8 years to get where I am to create a better life for me and my family. I started from scratch without a free college education mind you, learning from my mistakes and having many set backs that almost bankrupted me(I worked a job delivering pizza and as a home health care aid in the tough times just to pay my bills). I never gave up, even when I had to sleep in my car to be at my first sales appointment the next morning. Should I have to give more money to a person that sat on their butts honing their "Madden 08" skills? Someone that hasn't worked because the system makes them a victim. Whose only retirement spending is onl lottery tickets the first week of the month until their money runs out. I give away more money in donations than many of those madden experts make per month. Do I feel sorry for them? Nope, the opportunity is currently available in America. People have to want it. Our education system doesnt teach hunger and success. They teach you how to get a job. We need change and Obama and Biden aren't it.
Elect Obama and he will create another generation of useless victims.
I would have answered your question, Joe, but it appears you weren't interested in an answer, only in hearing yourself talk. Yes, create more victims like the Clinton years did.
FYI, http://www.businessweek.com/bwdaily/dnflash/content/jun2008/db20080611_220050_page_2.htm
Business week, not exactly a left leaning rag, compares their tax plans. That is, if anyone wants da truth………
Rev,
I reject the notion that McCain/Palin will be four more years of the same. That's just a Dem talking point. McCain/Palin should attempt to correct Bush's biggest flaw, along with the former GOP Congress and the current Dem Congress' biggest flaw – runaway spending. At least they represent the best hope of doing that. Obama certainly doesn't. He represents more of the same and then some.
average joe,
Exactly right.
da truth,
That Business Week article only reiterated what I already said. Obama will vastly increase taxes and spending. McCain will cut taxes and attempt to reduce spending. Though I don't think either candidate's numbers add up, McCain would at least head things in the right direction. The idea is NOT to maximize government revenue, the idea is to leave the most money possible in the taxpayer's hands.
My point was that we don't need more taxes. We already tax people more than enough, far more than we should. It is hurting the economy, not helping it. What we need to do is reduce government spending. McCain/Palin represents the only realistic hope of doing that.
Joe,
The Dims, easpcially radical leftist like this Obama, want to make as many americans [and businesses] dependent on government in possible. That's why the liberals of today are properly called fascists.
King, McCain mabye, Palin no, shes a neocon in a skirt. Thats why he picked her. I do still hold out hope for McCain and since he is the candidate, thats who I wish people would focus on. It's interesting to me that all of you that support Bush are so quick to bash Obama/Biden, based on what Bush has done to the economy.
But the real reason Im posting is that Ive started to see some of the liberal blogs I read finally start to question the choice of Biden and Im wondering if you are going to do a post on him like you mentioned? I know plenty about him and as you know I was terribly disappointed in the choice. Maybe you could do that one around the time of the VP debate? Just hoping you dont scrap that plan. Anyway, keep up the posts. The next few months should be interesting.
King
Heard a audio clip yesterday of Biden saying that Hillary would probably have been a better vp pick than him. No kidding.
But one has to wonder if BO and the Dims might not dump Biden, seeing what a baffoon he is.
By the way, Biden is currently running for re-election to the U.S. Seante. If the guy had any class, he'd resign his Senate seat, as Bob Dole did, to show his commitment to BO. Say, maybe the old plagiarist knowes something we don't.
Keeping Biden on the ticket — or more accurately, not having Comrade Hillary there — could well doom BO is the thinking in many Dim circles.
Sarah has knocked the dims for a loop.
Ghost, I have a friend who suggests that Biden will remain on the ticket up to about 2 weeks to go and then resign, for medical reasons or some other excuse, and Obama will regretfully accept that resignation and then dutifully appoint Hillary Clinton to replace him.
This suggestion makes lots of sense in that they are headed down the toilet because of da truth's neocon, Sarah Palin, and the only way they can get a leg back up is to get Hillary on the ticket.
It appears to me that this could well win this election for the Dems, who have lost it now, and at the same time kill any need for the National Convention since the conventions no longer do anythng anyway. Think of the money that they could save for the campaign.
Rev Red, you talk about four more years of the same. Is Bush running again? I was of the thinking that some obscure law requires that he step down because of some kind of term limit.
How about you and I getting a movement going to place term limits on the legislative people, also? That may well do more for the health of this country than who we elect as President.
Truth – What do you know about her other than the blatant lies that Keith Olberdork and the rest of the paniced democrat goons have been spouting and writing about her and trying to tie her to? As usual the libs are muddleing the truth to undermine the progress of America. If the libs win, you deserve what they will give you, a huge sack of empty promises.
What is so funny is that as we get closer to the election and Obama is looking into the issues more and is starting to see the truth, he is realizing that Bush isn't such a jerk afterall. He agrees more and more with Bushes policies. Don't believe it watch his interviews with men that don't agree with him. He crumbles like he has no spine. That big white smile isn't going to win over Putin or Achmadenajad, trust me.
I'm a bit weary of the McCain is NOT 4 more years of Bush magic trick.
Americans are concerned primarily about two issues, the domestic economy and foreign and military affairs…you tell me where McCain differs. Anyone.
On the economic front he wants to tax our medical benefits, encourage employers to drop coverage for their employees, and then give anyone who can afford to pay $12k a year for health coverage, a $5k tax credit. Do the freaking math. This will be disastrous. It will make the whole mess even worse.
Worse than Bush.
Obama's plan favors middle and lower income American workers. Simple as that. Anything else you hear or read, unless McCain or Obama change their policy, is a lie or a distortion.
King, Roy, Ben, Joe,
Check out how B. Hussein Obama is trying to erase a large part of his past.
This clown is sinking fast. Never mind dumping Biden. The Dims better advised to dump BO instead. Hey, it's never too late.
http://www.americanthinker.com/blog/2008/09/obama_covers_his_tracks.html
Vince and Roy,
I've been thinking the same thing as you guys about Obama dumping Biden and going with Hillary for VP. The One knows he's in trouble, and then not only does Biden say Hillary is the better choice, but on the same day, Obama and Bill Clinton appear together, acting all buddy-buddy when they clearly are not that. Something's up.
da truth,
If Biden is still the VP candidate when the debates roll around, I'll do a post about him for sure.
"a neocon in a skirt ?" C'mon now. What reason is there to believe that ?
She does look good in a skirt, though, if I may be a male chauvinist pig (sans lipstick) for a second.
Rev,
Speaking of magic tricks, you completely ignored my point about Obama jacking up federal spending and not having a balanced budget as a priority when the country is already $10 trillion in debt, with $50 trillion in unfunded liabilities. Now, THAT is some trick.
Presto Change-o You Can Believe In.
There's a good campaign slogan for Obama.
Vince,
Thanks for your link to American Thinker. I was a bit scared of The One when I read it and then I read the comments and got very scared. Maybe instead of calling The One by that name I will continue to use Scary Barry as my way of writing his name. Those comments just revealed too many possiblities.
In the case of Scary Barry I have reverted back to my thinking about all those people who got dead from getting too close to the Clintons. "Where there is so much smoke there must be at least some fire." I do see way too much smoke in the Scary Barry case not to believe that we should be scared.
In reading about the Jarrett woman I really saw a lot of smoke from a very possible fire.
The GOP president now sitting in the Oval Office has a 400+ billion dollar deficit going this year….and projections for similar numbers the next two years…..and you, a conservative libertarian, are going to not bring that up while at the same time you criticize Obama for not making a priority of balancing the budget?
It's that typical double standard thing. Republicans make things so bad that we experience deficits for years but somehow it's the Democrats fault, and especially if they don't eliminate those GOP deficits in short order.
Ridiculous.
The current GOP and their candidates have absolutely nothing to offer America except their repeated lies.
Rev,
There you go confusing yourself again. There is no double standard with me. I have criticized Bush for his deficits repeatedly. It is my single biggest criticism of him, and I've been making it for years. Have you not heard one word I've said this entire time ?
On this year's deficit – I noticed you didn't cast any blame on the Democratic-led Congress. Congress are the ones who, like, set the budget. It's only the GOP's fault. There's another magic trick.
The only way your comment makes the least bit of sense is if you accept the proposition that all Republicans are the exact same person, and therefore McCain IS Bush. Since, knowing you, you are probably nodding your head in the affirmative right now, let me ask you, are all Democrats the exact same person ?
And none of your smoke obscures the fact that Obama's tax plans versus his spending plans don't add up to anything but more deficits and more debt, as we ride along, blissfully stupid, while economic armaggedon approaches. You might even say Obama represents 4 more years of Bush, to borrow a phrase.
Come on now…..McCain's policies…more tax cuts….is no different from Bush-Cheney.
Where you agree with McCain is when he says he'll cut spending on domestic programs. During a downturn….worse possible time. Americans will need the help. That's what Obama is saying.
I realize one size GOP clothing doesn't fit all GOP'ers. You gotta' give me more credit than that. My own personal opinion here is that McCain, while I agree he will work somewhat with Democrats, is, overall, more dangerous to the country than even Bush.
McCain believes that the Vietnam "failure" was preventable, if we would have only carried out more violent destruction and killing. McCain's only misgiving about Iraq, and even that is arguable, is that we didn't use enough force. The surge is personal for McCain. To him, the surge is a revisionist "victory", or at least a vindication, of his old Vietnam views.
This is the mentality he would bring to the CIC job. It's way too dangerous.
Rev says, "Where you agree with McCain is when he says he'll cut spending on domestic programs. During a downturn….worse possible time. Americans will need the help. That's what Obama is saying."
No, Obama is not saying that, but it sure is interesting that you are saying it. So now you support increasing government spending during an economic downturn. That's EXACTLY WHAT BUSH DID. I'm surprised you agree with Bush. Even Obama has recognized how bad of an idea that is. Obama said about a week ago that he might cancel his domestic spending plans if the economy didn't turn around. You better check in with your Messiah, because you are off message. Granted, the Messiah's message changes from day to day, so maybe you'll be back on message by next week.
The Vietnam failure WAS preventable. We won every battle and lost the war. The North Vietnamese leaders have even said the only thing that kept them fighting was the growing anti-war sentiment in America. They felt that if they held on just a little longer, America would defeat itself from the inside(sound familiar ? The Dems have been trying the same trick in Iraq for years). And America did defeat itself in Vietnam. The REAL violent destruction took place after we left, when millions died. That blood is on our hands. Peace With Honor, my a$$.
Why is that when Democrats call for unity, they always want to unite behind an American defeat, never an American victory ?
McCain isn't looking to start any wars. That's just silly, you fearmongerer you. What's with this "Rovian" politics of fear and divisiveness, Rev ? The politics of personal destruction.
And tax cuts during an economic downturn provide a stimulating effect on the economy. That's basic economics. It's not a difficult principle to understand. Granted, spending must be cut or you are simply taxing the future for the convenience of the present. That's just an illusion, and even worse than doing nothing in the long term. McCain is, however, committed to reducing government spending, which is the precise reason he is not like Bush, and is also the precise reason Obama is like Bush.
So….you want to relive Vietnam, like McCain….and bring the country to it's knees economically to do it.
Just say that then.
Hi we all need a universal healthcare in this country!!