I don’t generally like to talk about politics in a public setting (I was always told there are two things you never talk about in public or with friends, Religion and Politics) but this just has to be covered. Senator Obama announced his Tax Plan today in a speech to help him gain some ground on clinton as the progressive front runner. Unfortunately, his “fair” tax plan is nothing close to Fair.

Obama is calling for over 80 Billion in tax cuts, which he claims will help the “Middle class” but in fact would do very little for families bringing in anywhere from 50 to 100,000 a year. Those it would help? Elderly couples who bring in less than 50k a year and home owners who bring in less than 50k as well. He also wants to establish a credit up to 1,000 for more people (though for most of us it wouldn’t be worth it) if we take the simple deductions (instead of itemizing).

I want you to know, I am by no means a CPA. I file my taxes every year like the rest of the country, but I can’t help but wonder if this plan of Obama’s (which is pretty to look at if you fit in his demographics) would hurt more than it would help. From where I sit, cutting 80 billion in taxes would hurt the country at this point. What he should have suggested is moving away from the Income tax to the Fair Tax or National Sales Tax.

Under the fair tax, EVERYONE is taxed the same. What you make on paper is what you take home at the end of the week and you’re taxed on what you spend. I makes sense. Obama thinks its possible for an american to file his taxes in under five minutes (providing the IRS supplies us with the docs already filled out), well, I’ve got news for him, if we went to a fair tax, you wouldn’t spend any time filling out tax paper work. It would be great!

If you haven’t heard of the fair tax yet, you’ve been living under a rock. Check out Fairtax.org and contact your congressman about it. ITs a worth while cause that would fix a lot of problems for a lot of people.