Obama's campaign misrepresents tax cuts
Ryan Swain, Writer.
Democratic hopeful Barack Obama hopes to carry on one of his party's main points by cutting taxes on the middle class. In order to keep a sufficient amount of revenue flowing into the government, he aims to raise taxes on the upper classes significantly.
However, there remains one small problem in Obama's ?tax cuts." His plan of cutting taxes for the middle class is a bold-face lie.
Obama's form of ?tax cuts? are more accurately known as tax credits, with which the government provides those making less than a certain amount of dollars per year with a tax credit.
With a tax credit government writes a check for citizens to use in paying their taxes. Essentially, the government gives money to themselves, instead of just cutting taxes.
Of the seven of Obama's tax credit proposals only one would be refundable, meaning that of those not paying taxes?roughly 45.6 million Americans?would still receive the credits.
The government would give those making too little to qualify to pay income taxes a check to provide aid to help them pay their non-existent taxes. This is what most refer to as welfare, however the senator calls this providing simple relief for the middle class.
Obama's proposed ?tax cuts? could easily constitute one of the largest welfare programs to ever be implemented, and one of the biggest transfers of wealth from the government directly to the people in our nation's history.