Robin Hood Obama

Obama laid out his rescue plan for the middle class (http://www.realclearpolitics.com/articles/2008/10/a_rescue_plan_for_the_middlecl.html). Yep, the middle class. These are the people that are going to get our economy going again, that are going to provide the jobs for you, the ones that have been paying too much in taxes while the evil rich fail to pay their fair share.

So here are some of the highlights of Obama’s great plan to save the middle class. Oh and by the way, this will be paid for increasing taxes on people making over $250,000 a year, closing tax loopholes and imposing windfall taxes on oil companies. So let me get this straight, you are going to tax the high achievers in this country to pay for a plan to ‘rescue’ the middle class? Sounds like class warfare to me. But what do I know?

Here’s the menu:

-A tax credit for businesses who hire new employees. How about lowering taxes on these businesses from the get go? Let them keep more of their money and perhaps they’ll start creating jobs again.

-Eliminating all capital gains taxes on investments in small businesses and start ups. Again .. why not eliminate all capital gains taxes? Here’s a little secret. Most investments in small businesses are made at the personal level in one’s own business .. and capital gains taxes aren’t a part of the picture. This is a meaningless solution that sounds good to the government educated dumb masses.

-Fast track loan guarantees for the auto industry so they can build energy-efficient cars. In other words … sort of a bailout. How long did the automakers see this coming? Let the marketplace chose the winners and losers here .. not the government. If they fail, someone will step in to fill their shoes. Also, we get rid of a lot of union labor this way.

-Save jobs by creating another government program: a Jobs and Growth Fund, which will give money to states and local communities for pork barrel projects. No comment needed here.

-Cut taxes for 95% of workers (we’ve been through this one) and pass a plan to send out those welfare checks ASAP. Classic class warfare based on wealth envy.

-Extend and expand unemployment benefits and stop making them pay taxes on unemployment insurance benefits. I agree with the no taxes on benefits part … but at what point do we stop the free ride?

-No fines or penalties to withdraw up to 15% from your IRA or 401k. This is McCain’s idea. Glad Obama is on board.

-Cities thinking of raising property taxes to pay for services, no need to worry … the federal government (taxpayers) will be there to make sure you don’t hike up taxes or, god forbid, be forced to adhere to a budget. Sounds like more centralization of government to me.

-A three month moratorium on foreclosures (something that Obama once called a “disastrous” plan). Look, many of these homeowners need to be renters. Get them out of their homes and into an apartment somewhere.

-The Treasury should “help unfreeze markets” for individual mortgages. Oh and student loans. Oh and car loans. Oh and don’t forget credit card loans. How do you unfreeze? You buy up the bad loans. Nice plan.

This is the type of plan that comes from someone who believes that America is great because of government.

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