Sunday, April 20, 2008


As ol' Benjamin Franklin said ,taxes and death are the only things guaranteed.
But what do our Presidential candidates think of taxes? Again it's difficult
to get an honest answer. And I think that is because they don't understand
economics. But they all know how to make millions of dollars a year
for themselves.
And they all think that if they say "Tax the Rich" they will get more votes.
But let's take a look.

John McCain: McCain has changed his stance on tax cuts, as long as we
have waste and pork cuts.
McCain is proposing to double tax credits for families.
McCain also wants people to have the option of putting a portion of
their Social Security
in the stock/bond market. Privatize a portion of your Social Security.
He proposed a summer gas tax reduction.
He also proposed relief for student loans.
Cut Taxes For Middle Class Families
He also wants to keep the Bush tax cut on dividend and capital gains.
Cut the Corporate Tax Rate from 35 To 25 percent.
The US has the second highest corporate tax in the industrialized world.
A lower corporate tax rate is essential to U.S. competitiveness.
Lower Medicare Premiums
Stop Earmarks, Pork-Barrel Spending, And Waste.

Hillary Clinton:'Clinton to raise taxes on wealthy Americans.
She does not want to "Privatize a portion of your Social Security."
But she will raise taxes on Social Security and she will raise the
retirement age.
"Hillary Rodham Clinton has given a private clue on
an issue she has refused to discuss publicly how to preserve Social
Security in the long term."
Clinton said that a typical family making $50,000 would receive under
her plan a
tax cut of up to $1,000 and a $3,500 tax credit to help pay for college.
She wants to let the Bush tax cuts expire, meaning a tax increase on dividends.
Sen. Clinton: "You know, capital gains, I think we may have to nudge a
little bit..." (CNBC's "Wall Street Journal Report," 12/9/07)
I found it very difficult to pin down Clinton on any tax issue.
She is very vague. But with some of her social ideas she will have to
raise taxes to pay for them.
If Sen. Clinton Could Enact All Of Her Campaign Proposals, Taxpayers
Would Be Faced With Financing Over $709 Billion In New Spending Over One
White House Term.
The National Taxpayers Union Gave Sen. Clinton a Score Of 3 Percent And
a Grade Of "F" For Her Voting Record In 2007.

Barack Obama: Obama Has Called For Higher Income Taxes, Social
Security Taxes,
Investment Taxes, And Corporate Taxes, As Well As "Massive New Domestic
Spending." "I think that we can have a capital gains rate that is higher
than 15 percent." (CNBC's "Closing Bell," 3/27/08)
CNBC's Maria Bartiromo: "Right now the capital gains tax is 15%. He
[Obama] wants to take that up to possibly 28%. ...That's a big deal.
Because you're not just talking about the rich. You're talking about
100 million Americans who own stocks that will get impacted by that
capital gains tax increase." Roughly
52% Of American Adults Own Stock In Some Form.
Obama's Social Security Tax Hike Would Be "The Largest Tax Increase In
American History." Obama said he would not raise taxes on those making less
than $200,000 a year, but he would raise Social Security taxes.
And believe he will raise the retirement age.
If Obama Could Enact All Of His Campaign Proposals, Taxpayers Would Be
Faced With Financing Over $662 Billion In New Spending Over One White House
The National Taxpayers Union Gave Obama a Score Of 5 Percent And a
Grade Of "F" For His Voting Record In 2007.

It seems that we have gotten more information from John McCain
than we have gotten from either Clinton or Obama.
The Democrats have had 20 debates and they still have not made it clear
where they stand on taxes. Besides "Tax the Rich".
One thing is clear, that McCain is pro Business and smaller government
and Clinton and Obama are anti- Business and for larger government.
All they say is how bad things are under Bush.
"The United States has spent roughly $750 billion for the five-year war.
Sure, that's a lot of money. But the total cost works out to 1% of the
$63 trillion
gross domestic product over that time period. It's minuscule".
Under the Bush tax cuts for the "rich", 25 million Americans at the bottom half
of the income scale have been wiped off the federal income tax rolls.
And the rich? The federal tax burden of the top 1% of earners has gone from 19%
under Jimmy Carter (in 1980) to 39.4%. Meanwhile, the bottom 50% paid 3.1% of
taxes in 2005. In 1995, they paid 4.6%.
The unemployment rate has hovered below a historically low 5% for
quite some time.
Nearly 10 million jobs have been created. Household net worth has increased
by $20 trillion. Industrial production has expanded by 13.5%.
Even home prices, despite the current correction, have increased by 20%.
Real GDP has increased by 16%, or 3% annually.,jobs
If you watched the debate April 16th you saw how little Obama knows
about economics.
Charlie Gibson asked him about capital gains tax. Gibson said every
time you lowered
the capital gains tax, revenue went up and every time you raised
capital gains tax, revenue
went down. Obama didn't know what to say and didn't have an
intelligent answer. Than changed the subject.
When asked the same question of Clinton she didn't have an answer,
said that she would have to look into it.
After 20 debates the only thing Clinton and Obama have to say is"Tax The Rich"

But, I do believe some people do make too much money. Actors and
actress making $20+ million a
movie, every movie. Athletes making $10+ million a year, every year.
CEO's making $10 + million a year,
then want the workers to take a pay cut. That's wrong.

It's too bad most politicians are millionaires
and how they want to save us all. If all these "rich" politicians want
to pay more taxes
they can send more of their money to the Government. But they don't.
Why are so many politicians trial lawyers?

Why would a politician want to spend millions of dollars to become
president, when the job only pays $400,000?
("Republicans Believe Every Day Is The Fourth Of July, But
Democrats Believe Every Day Is April 15." -- Ronald Reagan)

You can vote for whoever you want. If you want bigger government and more taxes
vote for a Democrat. If you want less government and less taxes vote for McCain.
Some people will defend their "favorite" candidate, no matter what they say or do.
I would not be surprised if the the next president came from "American Idol".
No substance, but he sings and can dance and he makes nice speeches.
But, no substance
Very Sad.
PS. If you were a terrorist who would you vote for?

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