Note: You might want to start at the Barack
Obama Index Page, especially
if you arrived here by using a search engine.
Barack Obama is a tax-and-spend big-government liberal, at best. He apparently has plans
for a Socialist government, which means wholesale redistribution of wealth, an expanded welfare
state, and some form of candy-coated totalitarianism.
Obama's extravagance will inevitably lead to high taxes, high inflation rates, and huge deficits.
Newer information: What can we expect from
the Obama administration?
Even newer: Obama's self-inflicted economic collapse.
Obamanomics: Obama's economic
plan is a recipe for long-lasting disaster. ... Obama is proposing a trillion dollars in new spending. Where
is he going to get the money, given the government's present huge budget deficit? From the filthy rich and
blood-sucking corporations, that's where, he says. A terrific vote-getting scheme. But will it work?
The Myths Of Clintonomics:
Obama is even recycling Clinton's old economic team. Standing behind him at his first press conference were
old Clinton hands Bob Reich, Laura Tyson, Larry Summers and Bob Rubin. The show of support was designed to
calm the markets after the post-election stock sell-off. But it hasn't worked, probably because Wall Street
knows that Obama is also recycling myths about the Clinton years. For starters, Clinton didn't turn the economy
around. The recovery had already begun before he took office. In fact, the mild recession ended in
1991 — long before he was even elected.
Obama and Marx: A crash
course. It is high time for Obama and his allies to publicly assert their political and economic
philosophy. If it is socialism, say so. If it is not, please explain why. This, of course,
is made immediately relevant by Obama's famous comment to Joe the Plumber that, "I think when you spread the
wealth around, it's good for everybody." In particular he was talking about his tax plan, which is a
plan for redistribution of wealth from top to bottom.
Obama's
'Service in College' Program at Change.gov Promises $40 an Hour. Thousands, if not hundreds of
thousands, of the roughly 3.2 million high school seniors who graduate each year who aren't cut out for
college, or aren't yet ready for what's left of its rigors, will not go into private-sector jobs that might
make sense for them, but will instead erroneously or prematurely choose higher education, partially because
of this perk.
The Europeanization of America.
[Under Barack Obama] Additional tax advantages for lower and middle income people will be enacted: a 10% mortgage
tax credit that would average about $500 per household per year, a $4,000 tax credit for college tuition, a tax credit
covering half of child-care expenses up to $6,000 per year, and even a $7,000 credit for purchase of a clean car.
More important, all but the clean car credit would be "refundable," meaning people will get a check for them if they
owe no taxes, which is simply a transfer of income from the government to individuals.
Investors Flee From 'Change' Obama
Hypes. Are Barack Obama's proposed tax increases adversely affecting our financial markets? We
say yes, unambiguously. The senator has done a masterful job distracting attention from his tax increases with
his $500-per-worker tax credit supposedly for 95% of Americans. ... With the bottom 40% of income earners not paying
any federal income taxes, such tax credits would not reduce any tax liability for these workers. Instead, since
they're refundable, they would involve new checks from the federal government. These are not tax cuts as Obama is
promising. They are new government spending programs buried in the tax code and estimated to cost $1.3 trillion
over 10 years.
Senator Obama's Four Tax
Increases for People Earning Under $250k. No matter what Senator Obama calls it, requiring us to
pay more taxes amounts to a tax increase. This got me wondering what other Americans will have to pay
when the tax cuts lapse.
What
Obama Really Means by 'Change'. We're days away from a national election, and no one in the media
has even bothered to explain Obama's "tax cut." No one has broken down just what Obama is proposing and
what it will mean for you, your family budget, your retirement savings and your job security. Obama's
tax plan includes four main components: Higher marginal rates; higher estate taxes; higher corporate taxes;
and higher taxes on investments.
Barack
Obama And The Economics Of Sesame Street: While most Americans find it distasteful, if not blasphemous, to
single-out a minority group for undue maligning and punishment, Senator Obama has made "profiling" of a "minority group" a
normative thing. We're not talking here about a racial or cultural or sexual minority. We're talking about a
socioeconomic minority — the more economically productive people in our society, or, to put in Obama-speak, the
group he vaguely defines as "rich people" — and punishing this minority group is, by his definition, "fair"
and "neighborly."
Five reasons to vote against
Obama: [#1.] He wants to tax working Americans back to the Stone Age. He lies when he
says he will cut taxes for 95 percent of Americans. You know its nonsense because they can't keep their
numbers straight from hour to hour. Obama claims everyone making under $250,000 is safe, or is it $200,000
(the infomercial) or $150,000 (Joe Biden)? On Friday [10/31/2008], Gov. Bill Richardson cut it to $120,000.
Socialism Comes to America. Two
more bailouts are pending before Congress -- both of them sponsored by Senator Barack Obama. One is the Jubilee
Act, which would cancel as much as $75 billion worth of Third World debt, and the other is the Global Poverty
Act, which would cost an estimated $845 billion. Total potential cost: $920 billion. If
they don't pass Congress this year, they could come back in an Obama Administration.
'Share
the Wealth' With the World? Barack Obama doesn't simply want to "spread the wealth around" here in
America: He's on record as favoring redistribution on a global scale. As the Democrat explained last
year in Foreign Affairs, he thinks we need to be "sharing more of our riches to help those in need" around the
world and promised to double American foreign assistance. He also proposed a multibillion-dollar Global
Education Fund to eliminate what he calls the "global education deficit."
Senator
Government. The framers of the Constitution expected a limited federal government.
They viewed the Constitution as a contract between citizens and government, designed to restrain the
fed from undue intrusion into our bedrooms and our wallets. For example, the father of the
Constitution, James Madison, vehemently objected to a 1792 congressional appropriation of $15,000 to assist
some French refugees. Madison wrote, ["]I cannot undertake to lay my finger on that article of the
Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their
constituents.["]*
Joe the
Plumber vs. Joe the Hair-Plugger. Our Fact Check Unit ran the numbers on the Obama tax-cut
plan and the number is correct: "95." It's the words "per cent" immediately following
that are wrong: that's a typing error accidentally left in from the first draft. It should
read: Under the Obama plan, 95 of the American people will get a tax cut.
It's Americanism vs. Socialism on
November 4th. "I think that when you spread the wealth around it's good for everybody." There
is so much wrong with not only this statement but this ideology it's hard to know where to begin, but I'll start
with this: Senator Obama... it's not your money to give! Wealth redistribution is one of the core
tenets of Socialism.
The
Elephant in the Room: Chicago Robin Hood's plan. Obama would take from the rich (those making
above $250,000) and give all others a tax cut — with the bottom 40% getting a check.
Obama is really good at
spending other people's money.
With $605 million already,
Obama asks only $10 more from each of us. Having hauled in a record $208,333 every hour of
every day last month — $150 million in all — plus a few more unreported millions so far
this month, Barack Obama is worried that he might come up short in the political money war with
the John McCain-Sarah Palin ticket. Just to relieve himself of that $150 million before the
polls open, Obama will have to spend $12.5 million a day. But he needs some more.
The Coming Obama Spending
Explosion. If you worry about the skyrocketing federal deficits of the Bush era, just wait till the
Obama administration hits town. Spending pyrotechnics will be spectacular if Barack Obama is elected and his
liberal Democrat allies increase their majorities in Congress come Nov. 4. We already know that Obama
has proposed more than $800 billion in new spending, and that House Speaker Nancy Pelosi is pushing
a $300 billion "stimulus" package on top of the $1 trillion-plus in Wall Street bailouts
already approved.
To The Undecided
Voter: Taxes are a nasty little reality of life. Nobody wants anarchy. Government
is a necessity. Government, though, is not supposed to create winners and losers. Government is
not, as Obama intends, to be used as an instrument of plunder.
Credit That Obama Calls A Tax Cut
Will Be Of Zero Help To Economy. Barack Obama says he supports a tax cut for 95% of all Americans.
He is referring here to his proposal for a $500 refundable income-tax credit for all workers, except those in the
top 5% of income earners. These folks, for some reason, are to be singled out for "special treatment" — i.e.,
tax increases — unless, as he recently told ABC anchor George Stephanopoulos, "the economy remains weak." So
apparently even Obama recognizes that his tax increases would be economically harmful.
A shearing, not a sharing.
Mr. Obama — who calls American free enterprise capitalism "trickle down economics" — said
he has to tax Joe [the Plumber] more and millions like him in order to "spread the wealth around." ... Mr. Obama
wraps ideas like this in the mantle of "change," but it's hardly a new idea. That's what Democrat
Huey Long, the demagogic Louisiana senator, preached in the 1930s, with his radical "share the wealth"
campaign and his relentless class warfare attacks on the rich.
Four
Words: We Can't Afford It. The politicians in D.C. hand out hundred million dollar earmarks like Trick
or Treat candy even as they glibly promise to "invest" billions more and scold anyone who might be so "mean" as to
want to cut whatever the latest non-functional, but pleasant-sounding government program happens to be. However,
there is a big problem with that sort of thinking: at some point, no matter what kind of happy talk our
politicians give us, the bill is going to eventually come due for all the goodies they're using to buy
votes — and they know it.
You Can't
Spread the Wealth Around. By now everybody has heard of Joe the plumber. It was Joe that Barack
Obama told that it was government's job to "spread the wealth around" — Joe's wealth — in order to
build the economy from the bottom up. ... The only problem is that economies don't really work that
way. Job creation and the real sources of wealth generation have never and will never come from
government taking money from some people in order to give it to others.
'Economic Disaster' Brought to
You by Obama, News Networks. During an Albuquerque, N.M., town hall meeting, Obama complained
about the criticism his spending policies had received from his opponent, Sen. John McCain. According
to the National Taxpayers Union Foundation, Obama plans to increase government spending by $343.6 billion
each year. That hike is more than the Gross Domestic Product of all but 30 nations, but Obama
doesn't like to be called on it.
Obama Is the Weatherman.
In terms of what's actually happening in the world, this is decidedly not Obama's time. We're in
an economic meltdown of unforeseeable length and enormity, and Obama wants to raise taxes on small businesses
and pay for everyone's health coverage.
The Stealth Candidate:
[Obama] wants to socialize health care, initiate a massive transfer of wealth via the Global Poverty Act and
would intervene in foreign conflicts solely for humanitarian reasons when our national interests are not at
stake. He obviously regards the tax code as a license to punish wealth and equalize incomes in the name
of "fairness" rather than a means to raise revenue for essential government services.
Obama vs.
business & jobs. Even The New York Times now is saying that Barack Obama's unswerving call for
tax increases — to impose more "fairness" — is the wrong prescription for the current crisis
in the U.S. economy. "The big issue for each candidate is not spending, per se, but how the
crisis will affect their promises on taxes," editorialized The Times last Tuesday.
Obama tax
cut 'refunds' those who don't pay. Barack Obama says he will give 95 percent of all American
workers a tax cut but does not mention that his plan would send checks to tens of millions of tax filers who
pay no personal income taxes — payments that critics say look "suspiciously like welfare."
Obama's Tax Cut is Actually a
Spending Increase, Says Non-Partisan Group. The heart of Obama's tax cut proposal is in his
use of refundable tax credits, which the [Tax Policy] Center describes as "credits available to eligible
households even if they have no income tax liability" — in short, refunds available even to those
who don't pay taxes. ... These refunds have the ability of reducing a taxpayer's liability below zero,
meaning they can get a refund without actually paying taxes.
Obama's 95% Illusion. Once
upon a time we called this "welfare," or in George McGovern's 1972 campaign a "Demogrant." Mr. Obama's
genius is to call it a tax cut. The Tax Foundation estimates that under the Obama plan 63 million
Americans, or 44% of all tax filers, would have no income tax liability and most of those would get a check
from the IRS each year.
Searching for Obama's
95 Percent. If Barack Obama can effectively claim that his plan cuts taxes on 95 percent of
Americans, then the term "tax cut" has no meaning.
The
Case Against Barack Obama, Part 1. Democratic presidential contender Barack Obama promises to
"cut taxes for 95 percent of American workers." That's not possible. Why? More than
30 percent pay nothing in federal income taxes.
Socialism!
There, I Said It. Already some 38 percent of Americans do not pay income taxes, and
Barack Obama wants to increase that percentage dramatically. How ironic that he and other Democrats
pretend to be targeting their message to "working-class" people when many of their constituents aren't
working. But such is class warfare that the upper-middle class and wealthy are demonized as not
earning an honest living.
Cirque De Obama:
According to a study by the Heritage Foundation, letting the Bush tax cuts expire, as Obama intends, will
reduce our annual GDP by $100 billion with the loss of up to 900,000 jobs. Over 10 years,
taxes would increase by some $1.7 trillion. For the 116 million Americans paying taxes,
that's an annual tax hike of about $1,800 a year. Last year, Heritage analyzed the effect of eliminating
the Social Security earnings cap, as Obama has also proposed. In the first year alone, the take-home pay
of 10.3 million workers would be reduced by an average of $5,650. Taxes would also be raised on
four million workers over the age of 50.
Why Obama
Can't Close the Sale. Mr. Obama has proposed a massive tax increase on investors, business owners,
and the "wealthy." At a time when the American people rate the economy as the central issue of the
campaign, a tax hike doesn't make a lot of political sense. Voters know that a tax hike won't help
the economy. Moreover, Mr. Obama's tax plans would directly or indirectly harm U.S. investors by
raising the capital gains and dividend taxes.
Obama's America is Canada.
What kind of "change" does Barack Obama want? He seeks to transform America into Canada. Mr. Obama is
not proposing "new politics," but is a champion of the well-known, already enacted policies in the Great White
North. His proposals are more reflective of Canadian values than American national ideals. For
example, Mr. Obama's economic plan consists of attempting to redress the disparities of wealth in the
United States.
Obama
is dangerously unfit to be president. Obama promises billions of dollars worth of new "entitlements,"
accompanied by a stifling regulatory bureaucracy and funded by higher taxes on the "rich." His claim that
he wants to help the middle class is in fact a plan to tax it out of existence and transform all but a small
political elite into wards of a state on the east European model.
Obama's taxes could wreck economy.
Whatever is left of the economy after the current round of crisis intervention by the Fed could go down the drain
if Barack Obama is elected and carries out his plans for sharp increases in taxation. Even if Obama does
not understand the linkage, most Americans do and will turn sharply against Obama's tax plans if John McCain
hammers away at the risk they pose for us all.
Supply-Side Slip.
Cutting rates on the higher-income brackets spurs growth, and that's what the Bush tax cuts of 2001 and 2003
did after the turn-of-the-millennium recession and 9/11. Sadly, we don't expect Obama to pursue his
insight to such logical conclusions. Doing so would undermine his campaign theme that the Bush tax cuts
have caused our current economic woes. It also would weaken his case for redistributing wealth through
the tax code. If middle-class voters figure out that his basket of goodies comes with a
price — potentially even costing them their jobs — they'll start saying "Thanks,
but no thanks." The dots are there, but we doubt if Obama will be the one to connect them.
We Can't Afford the Democrats' Platform. Most
of the Democratic Platform consists of promising benefits that will cost already burdened taxpayers aplenty. There's
no mention of how these extravagant handouts will be paid for. For example, the Democratic Platform enthusiastically
endorses the incredibly extravagant worldwide handouts in the bill sponsored by Barack Obama called "the U.S. Millennium
Development Goals, which aim to cut extreme poverty in half by 2015." The Platform promises to "double our annual
investment in meeting these challenges to $50 billion by 2012."
Obama's New Tax Welfare: In
1984, Walter Mondale ran for President promising to raise taxes if elected. He consequently made it to
the dustbin of history even before the Soviets, averting a 50 state shutout by just 1,200 votes in his
home state of Minnesota. The recently released details of Barack Obama's tax plan … confirm that
Obama makes Mondale look like a moderate. For Obama pledges not just to raise taxes. He proposes
to raise every major federal tax.
The post-national
candidate. The liberal media are trying to portray Mr. Obama's warm reception abroad as a powerful
sign he is capable of being a world leader. As usual, they are wrong. Europe's socialists love
Mr. Obama because he is one of them. Mr. Obama would transform the United States into a
North American France. He champions a redistributionist, soak-the-rich economic philosophy. He
would raise income and Social Security taxes on those making more than $250,000 per annum. He wants
to increase tax rates on capital gains and dividends. Mr. Obama seeks to nationalize health care,
expand government with nearly a trillion dollars in new spending, and impose burdensome regulations on
corporations and businesses.
The Right Stuff — and the
Wrong. Barack Obama's quasi-presidential address offering a four-part solution to the financial
crisis offers little more than veiled pork-barrel programs. It signals a mind more focused on elections than
answers.
Factors that
Could Lead to Obama's Downfall: Barack Obama has voted against tax cuts or for tax increases
94 times. Obama has a liberal track record that should set off voters' alarm bells. Why should
anyone believe he would now cut taxes when he has consistently opposed them for so many years?
Fraud:
Obama as Guardian of the American Taxpayer. The Candidate of Hope is hoping that while he
caterwauls about our lost billions, you won't notice that he has already proposed the most jaw-dropping
transfer of wealth in American history: taking nearly a trillion dollars out of the pockets of American
taxpayers and doling it out to the world's worst regimes through its most corrupt intermediary, the U.N.
The scam is better known as Obama's Global Poverty Act.
Like Father, Like Son.
Barack Obama's economic blueprint sounds like one his communist father tried to foist on Kenya 40 years
ago, with massive taxes and succor shrouded as "investments."
Obama's Shell
Game: Senator Obama wants to "create jobs." So where does he propose to send the
$50 billion? … The money would bail out spend-thrift state governments that have saddled
themselves — and the taxpayer — with ridiculous and wasteful public employee union
contracts. Remember, nearly half of all money spent by the states goes to fund education. And
education has become a bottomless pit of spending to appease the radical NEA teachers union.
Obama's museum
earmarks draw fire. Democratic presidential candidate Sen. Barack Obama tried to direct more
than $3 million in taxpayer funds to a Chicago museum whose chairman is one of the Illinois senator's
largest campaign fundraisers. Mr. Obama has twice since fiscal 2006 sought to have taxpayers foot
the bill for a new theater projector and other equipment at the Adler Planetarium on the Lake Michigan
waterfront. Neither of the requests, which totaled $3.3 million, was approved by Congress, the
museum said.
Obama's $50 Billion AIDS
Bill Up for Vote. Senators David Vitter (La.), Jeff Sessions (Ala.), and Jim DeMint (S.C.) are
making a last-ditch attempt to block the irresponsible and budget-busting $50 billion global AIDS bill
(S. 2731). … The legislation doubles funding for the U.N.-affiliated Global Fund, which disregards
U.S. policies on abortion and "needle exchange."
AIDS funding boondoggle:
The Bush administration, Senate Majority Leader Harry Reid and Sens. Barack Obama and John McCain are all supporting
legislation to fund the President's Emergency Plan for Aids Relief (PEPFAR) for five years. The PEPFAR
bill before the Senate would more than triple funding for the program from the current $15 billion
to $50 billion.
Senate Passes Obama's AIDS Bill.
Only 16 Senators, all conservative Republicans, voted against the massive $50 billion global AIDS spending
bill (S. 2731) when it came up for a final vote on Wednesday night [7/16/2008]. The outcome, which
included the addition of water projects for Indian reservations, demonstrated the complicity of both major political
parties in out-of-control spending designed to benefit a powerful special interest group.
Conservatives Protest Obama's AIDS
Bill. In another sign of the leftward drift of the national Republican Party, only 24 Republican senators
voted on Tuesday for an amendment to the global AIDS bill to prohibit AIDS funds from being used to pay for forced
abortions and sterilizations in Communist China.
Barack Obama's Global Tax
Proposal. Barack Obama's $65 billion-a-year "Global Tax" proposal is creating a firestorm
on the Internet, sparked by articles by Cliff Kincaid of Accuracy in Media in February. In response,
left-wing supporters of Barack Obama are feverishly striving to defuse the controversy, attempting to
discredit, dismiss, or diminish the story first revealed by AIM's Kincaid.
Obama's Tax
Plan Is Really a Welfare Plan. Barack Obama's tax plan is the opposite of supply-side economics.
He proposes to raise marginal rates for just about every federal tax. He also proposes a raft of tax
credits that taxpayers can receive if they engage in various government-specified activities. Moreover,
the tax credits would mostly go to those who pay little or nothing in federal income taxes. His trick is
to make the tax credits "refundable." Thus, if the tax credit is for $1,000, but the taxpayer would
otherwise only pay $200 in taxes, the government would write a check to the taxpayer for $800. If the
taxpayer pays nothing in federal income taxes, the government would pay him the whole $1,000.
Obama's Tax Proposals Make a Complex System
Worse. Not all tax cuts are the same. The question isn't just how much money taxpayers get
to keep or are given, but the impact that taxes have on how hard people work. Tax plans that try to help
the poor can sometimes become traps, making it difficult for the poor to climb out of poverty.
Obama's Tax Hike: As
Barack Obama tries to convince the American people he will cut their taxes, he actually plans to undo the Bush
tax cuts — and the Reagan low tax legacy.
Two Cheers for
Obama. Despite his enormous appeal, Obama is an over-the-cliff-and-tumbling-into-the-canyon-Left,
big-government, tax-hiking spendthrift. ... Obama endorses a 45 percent minimum-wage increase, from
$6.55 to $9.50. Why not simply triple it, to $19.65? Employers would love that.
Obama's War on Women:
[Scroll down] "[Obama's] plan would not raise any taxes on couples making less than $250,000 a year,
nor on any single person with income under $200,000." It amounts to a declaration of war on two-income
families, a marriage penalty of punitive proportions. If those two single persons with income just
under $200,000 get married, Mr. Obama is going to hammer them with a huge tax increase.
For Obama, Taxes
Are About Fairness. In fact, the idea of fairness is at the heart of his whole economic
argument. And he goes back to it in almost every public appearance. He talks about it as a general
theme: "It is time for folks like me who make more than $250,000 to pay our fair share." He
invokes it as a solution for Social Security: "[W]e will save Social Security for future generations by
asking the wealthiest Americans to pay their fair share."
Beware Of Investing With Obama.
Barack Obama may have been a good community organizer in Chicago and may yet have a successful career on the
stage, but don't hire him as your financial adviser. Starting next January he wants to take your money
and invest it in the federal government, a failed enterprise where rates of return on investment have
traditionally been negative despite frequent changes in management.
More
Reasons To Vote Against Obama. Mr. Obama is clearly a tax and spend liberal, as indicated by his
record and his platform. As indicated, he already calls for over two trillion dollars in tax increases that
would devastate the economy. The Institute for Research on the Economics of Taxation says his increase in the
capital gains tax would kill $2.5 trillion in capital formation over five years.
European Levels of Taxation: Barack Obama's
Tax Plan. Presidential hopeful Senator Barack Obama (D-Ill.) has unveiled his economic plan of
raising taxes on the successful. His plan would boost the top marginal rate to well over
55 percent -- before the inclusion of state and local taxes -- resulting in
many individuals seeing their marginal tax rate double. The consequences of this policy would be a
return to the bad old days of tax avoidance, with taxpayers disguising personal income as business income
or capital gains and the migration of capital from the United States to abroad.
The $5.7 Trillion Myth:
Obama hasn't been in Washington for very long, but in his three years he's firmly entrenched himself among the bottom ten
senators on the National Taxpayers Union scorecard of fiscal responsibility. On the same rating scale, McCain ranks
as the third-most hostile senator to new spending. In his campaign promises, Obama has proposed $307.2 billion of
new spending a year, which is about 40 times larger than the $6.9 billion in new spending that McCain has
proposed.
Obama's goodie bag:
Back when Barack Obama was a state senator, the Illinois Legislature offered this perk: You get elected, you get
to give out some money. … In all, Obama doled out more than $3.6 million in state grants in just the last
half of his state legislative career, records show.
Obama's Left-Wing Extremism:
Barack Obama has proposed increasing every major Federal tax. He supports increasing individual income
tax rates, allowing the Bush tax cuts, which cut rates for all income levels, to expire. He has proposed
almost doubling the capital gains tax rate, from 15% today to 28%. He supports more than doubling the
tax on dividends, from 15% to as high as 39%. He has proposed numerous corporate tax increases.
He supports increasing the death tax back to the stratospheric levels that applied before President Bush.
He supports increasing the payroll tax on higher income earners. In other words, if you run a
profitable small business, you can expect to be plundered by the Obamanistas from every angle. If
you work for a small business, you can expect to be looking for another job.
Obama-economics: My
fear is that we may well get to November without ever knowing Mr. Obama's true position — and thus
never have a serious national debate. Given that both America and the world, following broadly
free-market principles these last three decades, have enjoyed almost unprecedented prosperity … if
Mr. Obama wants to go in a different direction, honor requires that he declare himself and make a
public case for change, if that is what he has in mind.
Obamanomics: [Scroll down] As
for spending, Obama has been silent on what government programs he would reduce or eliminate. But he has
many ideas on how to spend money: health care, education at all levels, subsidies for energy companies,
and bailouts for irresponsible homeowners (who bought more house than they could afford). This suggests
billions and billions in new spending. As for budget reform, Obama is no stranger to pork barrel
spending, having clocked in with $740 million in earmarks in just three years.
Adding up the
cost of Obama's agenda: Last week, he pledged to give religious and community groups
$500 million a year to provide summer education to low-income children. Other proposals are more
costly. Obama wants to extend health insurance to more people (part of a $65-billion-a-year health
plan), develop cleaner energy sources ($15 billion a year), curb home foreclosures ($10 billion
in one-time spending) and add $18 billion a year to education spending.
Obamanomics
Is a Recipe for Recession. Some cite Bill Clinton's move to the economic policy center following
his Hillary health-care and 1994 Congressional election debacles as a possible Obama model. But candidate
Obama starts much further left on spending, taxes, trade and regulation than candidate Clinton. A move as
large as Mr. Clinton's toward the center would still leave Mr. Obama on the economic left.
Obama's 'no income
taxes on seniors' draws critics. If you're a senior citizen and earn less than $50,000 a year,
Barack Obama has a deal for you: a life free of federal income tax.
Obama's health plan: [Scroll
down] In order to lower the cost of keeping medical records we have to spend $50 billion dollars? Is
it possible this is just a way for the government to get its hands on your medical records? Obama knows that the
American people are leery of nationalized health care, I think his plan is a way to ease us into it. I predict in
his second term he will propose we go to a completely government run program.
Just How Stupid Are American Voters? If
the Socialist Obama is elected, we can expect businesses to flee this country to more friendly locations overseas. They
will take jobs and cash out of our economy and tax revenues out of our national coffers. Socialized medicine will
bring the destruction of our healthcare system.
What's The Worst That Could
Happen? [Obama's] plan would create a new government-run, Medicare-like option, while imposing
onerous regulations on insurers requiring them to cover everybody who applies for insurance, regardless
of risk factors or preexisting conditions, at rates the government deems affordable. While it is
technically true that as currently conceived it is not socialized medicine, Obama's plan would inevitably
lead to a socialized system by expanding the role of government in health care while simultaneously
destroying the private market.
Obama: Healthcare for
Illegals. Democrats' single most important domestic proposal — universal health
insurance — may blow up in Barack Obama's face when voters are exposed to the deadly details.
Obama has said, proudly and often, "I am going to give health insurance to 47 million Americans who are
now without coverage." But are they "Americans?" That 47 million statistic includes illegal
immigrants, who virtually all lack insurance. In fact, about one in four of those lacking insurance is
here illegally. And they are, by far, the group most in need of health insurance.
Details
missing from Obama's Social Security plan. Barack Obama's bid to place a new Social Security tax
on very high incomes is either a bold or foolhardy plan, depending on who critiques it.
Lose
Weight Now! Ask Obama How! "We can't drive our SUVs and eat as much as we want and keep our homes on
72 degrees at all times," declared the likely Democrat candidate for President. "That's not leadership." We
can't — as in, we shouldn't — eat as much as we want? What an odd thing for Obama to say, even given
how odd are a lot of things he says when Mr TelePrompTer is out of range (odd, too, that Obama singled
out SUVs; they're his vehicle of choice).
Icahn Says Obama
Would Be 'Terrible' U.S. President. Billionaire investor Carl Icahn said Barack Obama would
be a "terrible" U.S. president whose election would bring higher interest rates and a loss of international
confidence in the dollar. "I don't normally get involved in politics, but this time I am," Icahn told
an investors conference in New York last night [5/21/2008]. "I don't think Obama really understands
economics."
Obama's Tax Evasion:
Either the young Illinois Senator is ignorant of this revenue data, or he doesn't really care because he's a
true income redistributionist who prefers high tax rates as a matter of ideological dogma regardless of the
revenue consequences. Neither one is a recommendation for President. … Both candidates would have
voters believe that taxes on investment income only affect the rich. But that's not what Internal Revenue
Service returns show.
Obama wants payroll tax on incomes
above $250,000. The 6.2 percent payroll tax is now applied to all wages up to $102,000 a year, which
covers the entire amount for most Americans. Under Obama's plan, the tax would not apply to wages between that amount and
$250,000. But all annual salaries above the quarter-million-dollar amount would be taxed under his plan, Obama said.
A Few To Support The Many.
For those who like the politics of redistribution, Sen. Barack Obama is their man. The presumed Democratic
presidential nominee's plan would soak the richest Americans and spread the wealth around.
The Inanity of Obamanomics:
When Barack Obama repeated his call to nearly double the capital gains tax rate last month, most observers wrote
it off to fiscal naivety. But during last night's debate [4/16/2008], the Democrat frontrunner let slip that his
motives were more socially than economically driven. And that his reasoning was nothing short of ridiculous.
Obama
denounces big corporate pay packages. Democratic U.S. presidential candidate Barack Obama denounced
huge pay packages for U.S. corporate chiefs on Friday [4/11/2008] in a drive to convert middle-class anger about
the U.S. economy into votes. "Some CEOs make more in one day than their workers make in one year," Obama
said….
Obama wants
Wall St clean-up. Democratic White House hopeful Barack Obama on Thursday vowed to clean up
a "distorted" financial system, accusing Wall Street of manipulating markets to generate swift profits
instead of lasting growth. In a major economic speech, the Illinois senator called for an additional
stimulus package worth $30 billion to stave off a recession and immediate action to save homeowners
mired in a mortgage crisis.
Obama May Levy $15 Billion
Tax on Oil Company Profit. Democratic presidential candidate Barack Obama's proposal for a
windfall profits tax on oil companies could cost $15 billion a year at last year's profit levels, a
campaign adviser said.
The Wrong Way
to Kick An Oil Habit. High oil prices, like a walk under the summer moon, can drive normally
rational people to do foolish things they later regret. For Barack Obama, it is a fling with a windfall
profits tax on American oil companies — one of the most thoroughly discredited economic policies of
the past few decades. A 2006 Congressional Research Service report found that Jimmy Carter's version of
the tax generated less than one-fourth of expected government revenue while depressing domestic oil output
between 1.2 percent and 8 percent and increasing dependence on imported oil between 3 percent
and 13 percent.
From Breadbasket to
Basket Case: As the presidential campaign drones on, Barack Obama and the Democrats are fleshing
out the promise of "change" with some specific, big-government policy proposals. Many are familiar,
perhaps because they already have been tried — in Argentina. That country has gone from South
American breadbasket to world-class basket case. … From nationalized health care and government-owned
refineries to punishing taxes on the rich, Argentina has been there, done that.
Why
Wall Street fears Obama: Investors this summer have been placing their bets on an Obama
presidency, and for the most part that hasn't been good for the market. Without giving him a chance to
explain himself in detail on the campaign trail or at the Democratic National Convention, they are voting with
their shares by tossing financial, health insurance, manufacturing and high-dividend stocks into the ash can,
and are growing skeptical about energy companies as well.
Are Facts Obsolete?
As the hypnotic mantra of "change" is repeated endlessly, few people even raise the question of whether what
few specifics we hear represent any real change, much less a change for the better. Raising taxes,
increasing government spending and demonizing business? That is straight out of the New Deal of the
1930s. The New Deal was new then but it is not new now. Moreover, increasing numbers of economists
and historians have concluded that New Deal policies are what prolonged the Great Depression.
Obama's
Big-Government Vision: Senator Barack Obama is very gloomy about America, and he's aligning himself
with the liberal wing of the Democratic party in hopes of coming to the nation's rescue. His proposal?
Big-government planning, spending, and taxing — exactly what the nation and the stock market doesn't
want to hear. … The Obama spend-o-meter is now up around $800 billion.
$845 Billion to fight poverty in other countries
Mr. Obama has learned nothing from the sorry condition of the welfare state in this country.
Congress
Contemplates Giving Cash to Foreigners. Why are Republicans in Congress trying to help Barack
Obama? Republicans allowed a bill that carries his name, among nine others, to pass the Senate Foreign
Relations Committee by voice vote last week — without any hearings. That means there was no
roll-call vote so no member can be held accountable. The same bill passed the House by voice vote last
year. … Obama's costly, dangerous and altogether bad bill (S. 2433), which could come up in the
Senate any day, is called the Global Poverty Act. It would commit U.S. taxpayers to spend 0.7 percent
of our Gross Domestic Product on foreign handouts, which is at least $30 billion over and above the
exorbitant and wasted sums we already give away overseas.
Barack
Obama's Global Poverty Act: Senator Barack Obama, the eminently likable possible Democratic
nominee for president, has sponsored a "Global Poverty Act" that would require the United States to increase
foreign aid by approximately $65 billion per year. If the Senate passes this bill, it will be
Mr. Obama's first significant legislative accomplishment in Washington (he has only been a senator
since January 2005). As such, it merits our scrutiny for clues about his worldview.
Obama's Global Tax:
Senator Barack Obama's sponsorship of Senate Bill 2433 aligns with the emerging core theme of his general election
campaign. The change he promises will bring much-needed relief, not just to America's victims of
economic injustice, but to victims worldwide. On December 7, 2007, Obama introduced the Senate
version of the Global Poverty Act of 2007 (S.2433).
Obama's Global Tax
Bill Coming Soon. The Global Poverty Act of 2007 (S.2433) is coming up for a Senate vote
sometime after the July4 recess, according the office of Senator Kay Bailey Hutchison. Once Harry Reid
and the Democrat leadership put it on the calendar, we could have as little as a week to prepare for the
vote. The bill is sponsored in the Senate by Barack Obama. … If passed, it will cost taxpayers
$845,000,000,000 over the next 13 years, in addition to our current foreign aid expenditures.
Proud Pagan Witch Backs Obama's Global Tax Bill.
While Senator Barack Obama struggles to keep the public in the dark about the nature of his pro-U.N. Global Poverty
Act, a recent "Bay Area Interfaith Leaders' Luncheon" was held to lobby for Senate passage of the bill, whose cost
has been estimated at $845 billion. An actual witch who spoke at a "Pagan Pride" festival in San
Francisco was one of the listed participants.
Obama's Global Tax:
A plan by Barack Obama to redistribute American wealth on a global level is moving forward in the Senate.
It follows Marxist theology — from each according to his ability, to each according to his need.
What Does This Say About Obama's Political
and Legislative Philosophy? Senator Barack Obama (D-IL) has introduced the Global Poverty Act,
which will impose a U.N. tax upon every American in an effort to reduce global poverty by the year 2015.
The Global Poverty Act (S. 2433) was rushed through Sen. Joseph Biden's Senate Foreign Relations Committee
without hearings in February 2008. If passed and signed into law, it would force the U.S. to spend
0.7% of its gross national product on U.N.-run poverty programs around the world.
Obama
Supports Global Tax From United Nations. Barack Obama and his liberal allies such as Senator
Biden have signed on to a bill that would allow the U.N. to tax America (and Americans) an estimated
$845 billion over the next 13 years. Obama's plan represents perhaps the greatest affront
to our national sovereignty since the War of 1812.
$920 Billion More to Bail
Out the World. With one socialist "bailout" bill apparently on the way to passage by Congress,
two more are pending — both of them sponsored by Senator Barack Obama. One is the Jubilee
Act, which would cancel as much as $75 billion worth of Third World debt, and the other is the Global
Poverty Act, which would cost an estimated $845 billion. Total potential cost:
$920 billion.
Warning:
Obama is dangerous. There is a caste of left-wing Americans who wish essentially and in all
honesty that their country was much more like France. They wish it had much higher levels of taxation
and government intervention, that it had much higher levels of welfare, that it did not have such a "militaristic"
approach to foreign policy. Above all, that its national goals were dictated, not by the dreadful halfwits
who inhabit godforsaken places like Kansas and Mississippi, but by the counsels of the United Nations.
Though Mr Obama has done a good job, as all recent serious Democrats have done, of emphasising his belief
in American virtues, his record and his programme suggest he is firmly in line with this wing of his party.
Barack Obama,
Control Freak: Senator Obama is for making college "affordable," as if he has never considered
that government subsidies push up tuition, just as government subsidies push up agricultural prices, the
price of medical care and other prices. He is also for "alternative fuels," without the slightest
thought about the prices of those fuels or the implications of those prices. All this is the old liberal
agenda from years past, old wine in new bottles, a new face with old ideas that have been tried and failed
repeatedly over the past generation.
Back to the Barack Obama index page
More about Liberals in general
Back to the Home page
|
|
