When is tax cut not a tax cut. When you give people a rebate that they never paid in the first place. More disturbing is how Obama intends to reshape the American tax system. If he keeps it up, eventually everyone will either be working for the government or living off the government and the system implodes like a dying star.
Here is Jim Angle’s examination of Obama’s plan to make the poor rich by making the rich poor.
The single underlying principal of Obamanomics is this. You the American cannot ever hope to achieve real wealth on your own. You are helpless and hapless and so Obama will take from those who have succeeded (and likely employs the very people Obama is trying to help) and spread it around as he sees fit. It is economically inefficient, stunningly ineffective in the long term and frightening because of what it portends for an economy that has been built on individual achievement,
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How do Obama's alleged tax cuts add up when he and the Congress let the Bush tax cuts lapse?
As we know, they weren't "just for the rich," so everyone will get hit. And just because he gives us a tax "cut" this year, it doesn't mean that there will be one forthcoming next year.
I'll give you $1,000 if you vote for me!