The bottom line is his plan is nothing more than a redistribution plan or as it is more commonly known, welfare.
Here's the political catch. All but the clean car credit would be "refundable," which is Washington-speak for the fact that you can receive these checks even if you have no income-tax liability. In other words, they are an income transfer -- a federal check -- from taxpayers to nontaxpayers. Once upon a time we called this "welfare," or in George McGovern's 1972 campaign a "Demogrant." Mr. Obama's genius is to call it a tax cut.
Polling has shown the American people are against a redistribution of wealth, so how does Obama get around that... he simply changes the word redistribution and calls it "tax cut", voila, no worries about the American people because as far as he is concerned, they are too stupid to understand the difference.
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. One mystery -- among many -- of the McCain campaign is why it has allowed Mr. Obama's 95% illusion to go unanswered.
Obama is hoping that this "illusion" he has created will go unchallenged and people will hear the words "no taxes for 95 percent" of the people, while ignoring how many of those same people do not pay income tax anyway.
Take a good look at who pays the top percentages of all income taxes in the US, it is not the people that Obama is promising to give "tax cuts" to, that is the illusion, and not a very good one at that.
There comes a time in people's lives where they might need a helping hand, there is nothing wrong with welfare being available to help those folks temporarily until they can get on their feet, but welfare should not be something Americans for the most part should live their lives on, it is meant as "help" not a permanent fix and under Obama's plan, we would become a welfare country where the only "incentive" given, would be to work less so we can get more from those that work more.
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