Thread: Wake up about Obama's tax and economic ignorance.

Originally Posted by Silkheat

Possibly, but you are not suggesting McCain is a good choice are you?

Obama will raise tax rates, McCain won't. So address that point as made in the OP. Why do you support Obama's tax policy in view of the historical fact and his statement that he doesn't believe the tax system should be used to max revenues with the least harm to the economy but to make things fair, revenues be damned.

Bush may have lowered taxes a bit, but his and McCains spending......

We're talking the revenue side, taxes, don't try to shift the subject.

Don't get me wrong I think that we should do away with income taxes all together,

So why would you even consider Obama, a high spender high tax rate candidate and not McCain a lower spender lower tax rate candidate.

Originally Posted by Silkheat

Prices aren't down. Inflation has been consistently under-reported. ...

And what does that have to do with tax policy and which candidate has the better tax policy.

Why do you keep trying to shift the issue?

Originally Posted by Silkheat

The point was that federal income taxes aren't the only taxes, and the rich aren't the sole source of income for the government. The poor and middle classes also pay a higher percentage of their incomes to the government; which is also not fair.

Then post the numbers to support your assertion. The fact is the lower classes pay little if any tax at all. They get them back in rebates and credits and in fact when you look at overall taxes the lowest class actuall has a net 3% gain and the 2nd quintile a 1% net gain.

But you have yet to explain why Obama's view of taxes as demonstrated in the OP.

Don't forget in your chart that:

A) The employer's contribution to social security is still a cost to the employee

You keep making a specious argument. FICA taxes are specifically rebated to the lower income groups through the EITC. The other thing you don't understand is that those FICA taxes are direct taxes for a specific program which are returned in direct payments when the person begins to collect, the lower classes draw out more than they pay in because they do not pay in at near the same amount as the upper classes yet they recieve the same benifit. Trying use FICA does not make your argument.

B) Social security payments end after 96k or 100k (not exact but close). Thereby they are a regressive tax structure.

It;s about $112,000.. So a person making $24,000 a year pays in $2880 a year, gets back about a thrid of that in EITC so pays about $1,900. A person making more than $112,000 pays in $13,440 year. Both people get the same monthly benifit when they retire. You call that regressive? Is that fair?

c) Most of the monies collected for social security come from incomes of 100k and below.

Simply because there are more of them. What is your point? The lower the income the higher the return they get.

D) The government steals the $200 billion surplus each year in an un-accounted scam called off budget borrowing.

Yeah because of the way the system is set up, it's a lousey system. But Obama isn't going to change it, McCain will, who do you support?

E) Social Security is a ponzy scheme.

So do you support Republicans and Independents who want to reform it, or Obama and the Dems who want to just tax more to pay for it?