Thursday, September 24, 2009

The $1 trillion Obama wealth redistribution plan


If Obama’s proposals on taxes, health care, and climate change become law , almost $1 trillion in income each year will be redistributed from the top 30% of taxpayers to the bottom 70%. Can anyone say socialism?

From CNS News:
(CNSNews.com) - By 2012, nearly $1 trillion from the top 30 percent of American families will be redistributed among the bottom 70 percent if Obama’s proposals on taxes, health care, and climate change become law, according to the Tax Foundation.

2 comments:

TRUTH 101 said...

You know the top tax rate now is lower than when Reagan was President. I guess that means Reagan was a socialist.

Educated Truth said...

Even IF the top tax rate is lower for individuals, it has decidedly gone up for businesses (and with cap-and-trade, it goes up even more).
Individual tax rates don't have that great an effect of the economy; business tax rates directly influence job availability and location. "Reaganomics" trickledown actually does work, provided the infrastructure is available to let the money trickle down....Obama is destroying that economic infrastructure.