Read Their Lips: Republicans are lying about taxes
How do you manage to turn the nation's largest government surplus into the nation's largest government deficit? Ask George Bush.
I heard a lot of political "buzzwords" this last week at the RNC convention. However, two key words I've noticed are slowly being phased out from the Republican lexicon: fiscal responsibility.
Republicans castigate liberals as tax and spend, but in reality tax and spend makes more sense than to spend without taxes. A government that runs deficits is forced to borrow from the Federal Reserve, which in turn prints more money which devalues the dollar. This policy leads to higher prices, reduced savings, and ultimately ends with dire economic consequences. American tax payers, already struggling to balance their own budgets, eventually must foot the bill to end the bleeding.
Guess who Republicans think should foot the bill? Well, no one actually. They actually have no plan to cut down the deficit. In fact, John McCain wants to increase spending in the area where we already are spending the most money, defense. He also wants to reduce taxes for people who need a reduction of taxes the least, the super rich.
McCain may be a war hero, but he'll readily admit that he's not an economist. But the Republican Party, including people like Rudy Giuliani and Mitt Romney, cannot claim ignorance on the issue. That leaves only deceit as an explanation for their slanderous proclamation that "Obama will raise your taxes!". Perhaps that's true for the billionaire GOP donors in the convention hall, but for 90% of the rest of us, the opposite is true. Let's get the facts straight. Obama's tax plan will significantly reduce your taxes. At the same time, Obama will balance the budget, simplify the tax code, and end the irresponsible and fiscally wasteful occupation of Iraq.
Americans need to be assertive in dealing with oil companies. Obama's plan to tax windfall profits of oil companies is underrated and is probably the best idea I've heard in a long time. Here's a fearless approach that will accomplish two very important goals. It will pop the "speculation bubble" on oil commodities and reduce the incentive for collusion on the part of oil companies who are clearly exploiting our national security fears to raise prices. It also will provide every American with a $1000 dollar per year government rebate until oil prices go down. So remember that rebate check you got this summer? Well, you can expect it every year under Obama. It's a win-win situation. If gas prices go up, we get a fatter rebate. If they go down, we save at the pump. Offshore drilling, no matter how overenthusiastic we pretend to be about it, will not reduce gas prices any time soon, if ever. The long term solution to that problem is, chant it with me, conserve, baby, conserve (ok, fine, it doesn't work as a slogan)!
Nearly every economist agrees that getting money in the hands of middle class Americans will do wonders for this economy. We have a lot of debt, and wages are down. Obama will eliminate the income tax for an astonishing 37 million Americans. This is yet another bold proposal that should receive bipartisan support. Seniors making less than $50,000 will not pay any income taxes, and the 10 million poorest working Americans will also receive this benefit.
Obama's plan will help small businesses. Despite being publicly perceived as well to do, an astonishing 34% of small business owners are actually in the lowest tax bracket. Only 2% are in the highest bracket. He'll also provide small businesses with a reduction in payroll taxes, as well as eliminate the capital gains tax. This is crucial. Never before in American history has small business owners been in such a precarious position. A tax code that favors large corporations and an American public that is forced to accept cheaper goods rather than quality is spelling doom (W-A-L-M-A-R-T) across small town America. Cutting the corporate tax rate, as McCain seeks to do, is not only fiscally irresponsible, it is also will decimate America's rich cultural heritage as a nation of entrepreneurs. In the long run, it will hurt consumers as well. Less competition from local business inevitably allows sellers to raise prices and reduce wages.
McCain seems very serious about earmarks, but earmarks are to balancing the budget as increasing tire pressure is to energy independence. It's not a bad idea, but not a solution either. Earmarks total $18 billion a year. It sounds like a lot until you consider the federal budget is $3 trillion per year. Or if you are interested in math, divide $18 billion dollars by 300 million people. You should get $60. That's how much each individual would save if we eliminated earmarks. And truthfully, earmark spending is more of a legislative process issue rather than budget issue. Some of that spending is actually not waste, and would not be cut. It would just get passed in a different way. Some of it clearly is waste, but guess which state is at the top of the list for earmarks? Sarah Palin's home state of Alaska, of course, which relies heavily on earmarks to fund everything from halibut studies to small airport lighting.
Obama will leave the tax cuts passed in 2001 for all American except on the richest 5% of Americans. This is necessary to balance the budget and set the economy straight. Fortunately, he will only have to raise them to their pre "Bush tax cut" levels. Since the tax cuts were passed as temporary to avoid a Democratic filibuster, it's not really a tax hike as much as it is simply allowing the tax cuts to expire. This tax code worked well in the 1990's and will be effective today as well.
There's also another way Obama will lower your taxes. He will end the war in Iraq and ensure that our money is being spent here at home rather than abroad. Since this war began nearly every states, who cannot borrow money the same way the fed does, have been forced either to cut spending on infrastructure and social outlays, or raise taxes. Obama will provide federal funds to help state and local governments to balance their budgets, and hopefully, lower your taxes.
So let's hear it for fiscal responsibility. The best way for America to stay competitive is to invest in ourselves, not overseas, maintain a balanced budget, and keep taxes low for the middle class. Obama's plan uses innovative ways to implement these goals. The alternative, of course, is more of the same.
for debate and more check out:
www.crookedcrux.com
Help Democrats get elected in 2008!
http://www.democrats.org/page/outreach/view/total/lars
I heard a lot of political "buzzwords" this last week at the RNC convention. However, two key words I've noticed are slowly being phased out from the Republican lexicon: fiscal responsibility.
Republicans castigate liberals as tax and spend, but in reality tax and spend makes more sense than to spend without taxes. A government that runs deficits is forced to borrow from the Federal Reserve, which in turn prints more money which devalues the dollar. This policy leads to higher prices, reduced savings, and ultimately ends with dire economic consequences. American tax payers, already struggling to balance their own budgets, eventually must foot the bill to end the bleeding.
Guess who Republicans think should foot the bill? Well, no one actually. They actually have no plan to cut down the deficit. In fact, John McCain wants to increase spending in the area where we already are spending the most money, defense. He also wants to reduce taxes for people who need a reduction of taxes the least, the super rich.
McCain may be a war hero, but he'll readily admit that he's not an economist. But the Republican Party, including people like Rudy Giuliani and Mitt Romney, cannot claim ignorance on the issue. That leaves only deceit as an explanation for their slanderous proclamation that "Obama will raise your taxes!". Perhaps that's true for the billionaire GOP donors in the convention hall, but for 90% of the rest of us, the opposite is true. Let's get the facts straight. Obama's tax plan will significantly reduce your taxes. At the same time, Obama will balance the budget, simplify the tax code, and end the irresponsible and fiscally wasteful occupation of Iraq.
Americans need to be assertive in dealing with oil companies. Obama's plan to tax windfall profits of oil companies is underrated and is probably the best idea I've heard in a long time. Here's a fearless approach that will accomplish two very important goals. It will pop the "speculation bubble" on oil commodities and reduce the incentive for collusion on the part of oil companies who are clearly exploiting our national security fears to raise prices. It also will provide every American with a $1000 dollar per year government rebate until oil prices go down. So remember that rebate check you got this summer? Well, you can expect it every year under Obama. It's a win-win situation. If gas prices go up, we get a fatter rebate. If they go down, we save at the pump. Offshore drilling, no matter how overenthusiastic we pretend to be about it, will not reduce gas prices any time soon, if ever. The long term solution to that problem is, chant it with me, conserve, baby, conserve (ok, fine, it doesn't work as a slogan)!
Nearly every economist agrees that getting money in the hands of middle class Americans will do wonders for this economy. We have a lot of debt, and wages are down. Obama will eliminate the income tax for an astonishing 37 million Americans. This is yet another bold proposal that should receive bipartisan support. Seniors making less than $50,000 will not pay any income taxes, and the 10 million poorest working Americans will also receive this benefit.
Obama's plan will help small businesses. Despite being publicly perceived as well to do, an astonishing 34% of small business owners are actually in the lowest tax bracket. Only 2% are in the highest bracket. He'll also provide small businesses with a reduction in payroll taxes, as well as eliminate the capital gains tax. This is crucial. Never before in American history has small business owners been in such a precarious position. A tax code that favors large corporations and an American public that is forced to accept cheaper goods rather than quality is spelling doom (W-A-L-M-A-R-T) across small town America. Cutting the corporate tax rate, as McCain seeks to do, is not only fiscally irresponsible, it is also will decimate America's rich cultural heritage as a nation of entrepreneurs. In the long run, it will hurt consumers as well. Less competition from local business inevitably allows sellers to raise prices and reduce wages.
McCain seems very serious about earmarks, but earmarks are to balancing the budget as increasing tire pressure is to energy independence. It's not a bad idea, but not a solution either. Earmarks total $18 billion a year. It sounds like a lot until you consider the federal budget is $3 trillion per year. Or if you are interested in math, divide $18 billion dollars by 300 million people. You should get $60. That's how much each individual would save if we eliminated earmarks. And truthfully, earmark spending is more of a legislative process issue rather than budget issue. Some of that spending is actually not waste, and would not be cut. It would just get passed in a different way. Some of it clearly is waste, but guess which state is at the top of the list for earmarks? Sarah Palin's home state of Alaska, of course, which relies heavily on earmarks to fund everything from halibut studies to small airport lighting.
Obama will leave the tax cuts passed in 2001 for all American except on the richest 5% of Americans. This is necessary to balance the budget and set the economy straight. Fortunately, he will only have to raise them to their pre "Bush tax cut" levels. Since the tax cuts were passed as temporary to avoid a Democratic filibuster, it's not really a tax hike as much as it is simply allowing the tax cuts to expire. This tax code worked well in the 1990's and will be effective today as well.
There's also another way Obama will lower your taxes. He will end the war in Iraq and ensure that our money is being spent here at home rather than abroad. Since this war began nearly every states, who cannot borrow money the same way the fed does, have been forced either to cut spending on infrastructure and social outlays, or raise taxes. Obama will provide federal funds to help state and local governments to balance their budgets, and hopefully, lower your taxes.
So let's hear it for fiscal responsibility. The best way for America to stay competitive is to invest in ourselves, not overseas, maintain a balanced budget, and keep taxes low for the middle class. Obama's plan uses innovative ways to implement these goals. The alternative, of course, is more of the same.
for debate and more check out:
www.crookedcrux.com
Help Democrats get elected in 2008!
http://www.democrats.org/page/outreach/view/total/lars
