KingCondanomation
New member
"It's interesting how their definition of 'rich' has a way of creeping down," McCain said.
"Senator Obama has made a lot of promises. First, he said people making less than $250,000 would benefit from his plan.
"Then, this weekend, he announced in an ad that if you're a family making less than $200,000 you'll benefit - but yesterday right here in Pennsylvania, Senator Biden said tax relief should only go to 'middle-class people' - people making under $150,000 a year.
"At this rate, it won't be long before Senator Obama is right back to his vote that Americans making just $42,000 a year should get a tax increase. "
http://www.nypost.com/seven/10292008/news/politics/biden_blows_fuzzy_tax_math_135787.htm
From my calculations from the last election, their tax increase would yield about $40 billion in revenue (assuming that rich people stay around and take it, the Caribbean will beckon for some). Biden by his estimates (almost certainly skewed in his favor as any politician would) says it will yield $87 billion. So let's go with Biden's bloated figure, is $87 billion going to pay for:
- universal healthcare
- free collegecare
- 92000 more troops
- middle class "tax cuts" (ie: welfare handout that goes to anyone even if they don't pay taxes)
- increases in spending everywhere from environment to seniors to social programs
- reduce deficit of $400 - $800 billion (depending on if we use government only accounting tricks)
This is crazy, we all expect politicians to be a LITTLE untruthful with their numbers, but this tax increase will only pay for a fraction (less than 10%) of the cost of universal healthcare (going by what Medicare/Medicaid costs for 100 million).
We have a spending problem, we all know this, spending NEEDS to be cut, you cannot get this done with tax increases even with tax increases on the middle class which will certainly happen.
"Senator Obama has made a lot of promises. First, he said people making less than $250,000 would benefit from his plan.
"Then, this weekend, he announced in an ad that if you're a family making less than $200,000 you'll benefit - but yesterday right here in Pennsylvania, Senator Biden said tax relief should only go to 'middle-class people' - people making under $150,000 a year.
"At this rate, it won't be long before Senator Obama is right back to his vote that Americans making just $42,000 a year should get a tax increase. "
http://www.nypost.com/seven/10292008/news/politics/biden_blows_fuzzy_tax_math_135787.htm
From my calculations from the last election, their tax increase would yield about $40 billion in revenue (assuming that rich people stay around and take it, the Caribbean will beckon for some). Biden by his estimates (almost certainly skewed in his favor as any politician would) says it will yield $87 billion. So let's go with Biden's bloated figure, is $87 billion going to pay for:
- universal healthcare
- free collegecare
- 92000 more troops
- middle class "tax cuts" (ie: welfare handout that goes to anyone even if they don't pay taxes)
- increases in spending everywhere from environment to seniors to social programs
- reduce deficit of $400 - $800 billion (depending on if we use government only accounting tricks)
This is crazy, we all expect politicians to be a LITTLE untruthful with their numbers, but this tax increase will only pay for a fraction (less than 10%) of the cost of universal healthcare (going by what Medicare/Medicaid costs for 100 million).
We have a spending problem, we all know this, spending NEEDS to be cut, you cannot get this done with tax increases even with tax increases on the middle class which will certainly happen.
