Wednesday, August 06, 2008

The More Equal Half

In making decisions, I try to research as much as possible before taking action. I have found myself in the past and now on occasion having to make split second decisions on incomplete data. When afforded the luxury of time though, I try to learn as much as possible.

Taking a bit of advice from Sun Tzu, I persisted with “knowing my enemy.”

I read Obama’s THE IMPACT OF THE OBAMA ECONOMIC PLAN FOR AMERICA’S WORKING WOMEN and BARACK OBAMA’S plan to SUPPORT WORKING WOMEN and FAMILIES. As usual there are several lofty goals with ice cream and circuses for everyone. In the former, he mentions reducing self-employment tax.

I am certainly not a fan of the Internal Revenue Service. Any reduction in self-employment taxes definitely has my attention.

So now that my attention has been caught, what does it say?

“5 million women small business owners will benefit from this reduction of the self-employment tax.”

What is this reduction of the self-employment tax?

It is the “Making Work Pay” tax credit that will “offset the first $500 of payroll tax” or $1000 for a “working family”.

Payroll tax is definitely not self-employment tax. The two are vastly different from each other. I wonder if anyone in Obama’s campaign, or at least whoever it was that wrote the paper – presumably someone in his campaign – even knows that.

I also find it a little bit disturbing that he “has something for everyone” on his site except for white, heterosexual males that are not too old or too young. It is still disturbing nonetheless.

Going on…

Both discuss “tax relief”. The blueprint speaks of benefiting 150 million working Americans. It also states, “Ten million working Americans will no longer have to pay any income taxes as a result of this plan.

My question is thus: “If forty percent of working Americans do not pay income taxes and another ten million are going to be added to it, how many working Americans does that leave paying taxes?”

The plan is to make the number of Americans paying no taxes greater than fifty percent. Presumably, they will continue to vote for politicians that keep them from paying taxes. Once the majority starts redistributing the wealth of the minority, the fundamentals that made this nation will die.

No comments: