Like many of you, I have probably decided who I am going to vote for on Tuesday, November 4th.  I say probably because I am still a little uncertain.  I tend to be conservative but have been taking a good, hard look at Barack Obama.  What concerns me is his tax proposal and it leaves me wondering, is anyone doing the math?

According to Obama’s own website, www.barackobama.com/taxes, he has proposed cutting taxes for 95% of working americans.  The site says that no family making less than $250,000 yearly will see a tax increase.  Families making more than $250,000 yearly will pay the same or less tax than they did in the 1990’s.  In addition, the site says that there will be an overall tax revenue reduction, even under figures achieved during the Regan administration.  Capital gains tax will be eliminated for small businesses and corporations will get tax breaks for creating jobs in the U.S. in the amount of $3,000 per job.

His healthcare plan is one that will build off of the exisiting healthcare infrastructure but will be available to all americans.  Employers will be required to make a meaningful contribution to the employee’s healthcare premiums and insurance companies will have to cover all pre-existing conditions.  Your current healthcare costs will go down by as much as $2500 a year.

The last thing I want to highlight is that in addition to these things, he plans to reduce the national budget defecit.

So, let me summarize everything and put things into perspective.  The Obama plan is to tax the wealthier people and corporations.  The problem is, that is exactly who is paying the majority of the taxes already.  He says 95% of americans will get a tax break but only 60% of americans even pay income tax.  So if the difference, 35% don’t even pay a tax to get a break on, those will get a handout from the government.  Taxing large corporation more sounds good initially, I mean, large corporations are terrible, right?  All that fraud they get into and all the money they make.  Those greedy bastards.  Well the problem there is they really don’t just pay taxes out of their pocket; they pass that expense along to consumers.  The idea of offering an incentive for these corporations to create more jobs here in the U.S. also sounds good but what will $3,000 per job really do?  Would you be willing to work for $3,000 a year?  How about starting by creating a level playing field for our corporations first?

Insurance companies are going to be expected to cover everyone and not be allowed to properly mitigate their liabilities.  Healthcare institutions will be required to perform services at a reduced rate and employers (who are already being taxed more) are going to be required to make higher contributions to their employee’s insurance premiums.  On top of everything, the national debt goes down.

I am old enough to know that the tooth fairy doesn’t really exist and so are you.  All of this information I have taken off of the Obama site and are simply facts.  I wouldn’t be surprised if something gets added to his comprehensive economic policy that requires Santa Clause to increase his gift giving by 50% each year for the next four years.  You’re smart.  Do the math.  How in the hell can you have a net tax revenue reduction, a considerable increase in new spending, and reduce the national debt?  How can you expect to create new and more jobs in America when you make the cost of doing business in America much higher for the people who create the jobs?  Before he decides to tax everyone in the country for internet service, if I were you, I would hurry and backup your blog before the government charges you to do that.

Matt V.

Tags: backup my blog, Politics

This entry was posted on Monday, November 3rd, 2008 at 7:35 am and is filed under Archiving, Blog Backup, General, Politics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.