It appears that as we get closer to November 4th, people (by people I mean the WSJ) all across the country are beginning to look closer at Obama’s proposed “tax cuts” and other tenants of his campaign. One of the most startling things people are finding is that while he promises to cut taxes on 95% of families (40% of which do not pay taxes) he’s “proposing one of the largest tax increases ever on the other 5%”. Something hardly anyone was talking about a week ago.
Now MSM (main stream media) and Others are finally taking note. So yes, while he would “cut” taxes, the truth is that just like other democrats before him who promised lower taxes, he’s actually raising them. In fact, according to the WSJ article:
Some families with an income of $40,000 could lose up to 40 cents in vanishing credits for every additional dollar earned from working overtime or taking a new job. As public policy, this is contradictory. The tax credits are sold in the name of “making work pay,” but in practice they can be a disincentive to working harder, especially if you’re a lower-income couple getting raises of $1,000 or $2,000 a year.
Thats something you won’t hear any of the talking heads on ABC, CBS, NBC, CNN or any other MSM outlet mention or ask him about. Its only a wonder why we haven’t heard that from the McCain Camp yet.
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