Obama: I deserve a tax increase
Democratic Presidential Candidate Barack Obama almost gets that idea, but falls short again. On "Meet The Press" Obama said that his way of fixing the problems with Social Security would not be to cut benefits or to move up the "Retirement Age".
Good so far.
His plan is to raise the income tax to accomidate the lack of funds in the Social Secuirty "bank". Obama said "I think the best way to approach this is to adjust the cap on the payroll tax so that people like myself are paying a little bit more and people who are in need are protected."
Ok, maybe this guy is seeing the light.
Then Obama explained how "only the first $97,500 of a person's annual income is taxed. That cap is scheduled to rise to $102,000 next year.
Obama's proposal could include a gap or "doughnut hole" to shield middle-income earners from higher payroll taxes, he said." (Source: Cnn.com)
Nevermind, I thought there was hope. Here we go again. Another Democrat who doesnt want to really change the Income/Payroll tax structure. He wants to raise the tax accross the board and "protect the middle class". And what about the "lower/Working" class Senator Obama? You see, this was one of the great farces of Clinton's infamous "tax cuts". President Clinton wanted to raise taxes on the "Rich" while cutting the taxes of the Middle Class. But what no one talks about is with these "doughnut hole" gaps or "cuts" for those in the Middle Class, the poorest still suffer.
Hither to, this is one of the greatest blinders and weaknesses of those who are Fiscal "Moderate Liberals" or "Liberals". They want to raise taxes on the Rich, protect the Middle Class, but forget about the Working Class Poor.
Sure, it is cute when Obama says stuff like this:
"Obama also invoked his friend, billionaire Warren Buffett, who Obama said has expressed concern that he is paying less in Social Security taxes than anyone else in his office.
'And he has said, and I think a lot of us who have been fortunate are willing to pay a little bit more to make sure that a senior citizen who is struggling to deal with rising property taxes or rising heating bills, that they've got the coverage that they need,' Obama said." (Source: Cnn.com)
Yes, good points. But what about cutting the Payroll or other taxes on the Working Class Poor and Middle Class and only raise the taxes on the "Upper Class/Rich"? If we are so desperate to stick with the current tax system and want to still appeal to "Moderate" swing voters, just run on this instead of the ridiculousness that Obama has suggested and that President Clinton did? And don't tell me it cannot be done because you would be suprised what Politicians can get done when it means getting re-elected. This plan would boost any Democrat in polls and would lead to an almost guarantee in getting elected. And if they actually got it done, the momment they sign that new tax setup into law, they would guarantee their re-election just because they did what "no one thought would be done".
While I am not advocating the US Government playing the role of a Burecratic Robin Hood by taking from the Rich, giving to the Poor and Elderly, while easing the financial worries of the Middle Class, I know it is not a losing campaign idea. I know from experience that President Clinton's "tax cuts" did not help my Working Class family. I do not want to see the same sham occur again to the Working Class Poor of America.