Obama's Socialist Redistributionist Schemes

PatriotPost.US, 08-34 Obama is an avowed redistributionist when it comes to his individual income-tax plan. He has not been shy about his intention to raise taxes on the “wealthy” —variously defined as those earning anywhere from $100,000 to $250,000 or more per year. For those wondering what he would do with that money, look no further. Obama proposes $1,000 tax credits for those who pay little or nothing in federal income taxes. Not only that, but they would be “refundable,” meaning that if one’s tax bill is $300, the government would pay the taxpayer $700; if the taxpayer owes nothing, he gets the whole $1,000. This is nothing more than robbing one taxpayer and handing the money to one who pays very little or no tax at all. Some might call this the new welfare. Meanwhile, the top individual rate would be increased by 13 percent, to 39.6 percent. That’s the real change you can believe in.