3. Income Tax Cut for 95% of America. Never mind that about 40% of Americans don't currently PAY income tax; BO promised during the campaign that he would give a tax break to the 95% of Americans making less than $250,000 per year.
- From the Obama Campaign Website (http://www.barackobama.com/taxes/11-8-08)
-No family making less than $250,000 will see their taxes increase.
- Typical middle class family will receive well over $1,000 in tax relief
- Families making more than $250,000 will pay either the same or lower tax rates than they paid in the 1990s .
- Cut taxes overall, reducing revenues to below the levels that prevailed under Ronald Reagan (less than 18.2 percent of GDP). "The Obama tax plan is a net tax cut – his tax relief for middle class families is larger than the revenue raised by his tax changes for families over $250,000. Coupled with his commitment to cut unnecessary spending, Obama will pay for this tax relief while bringing down the budget deficit."
If Barry does all this, I will vote for the fool in 2012.
4. Fiscal Stimulus Package. From BO's press conference 11-7-08:
"If it [stimulus package] does not get done in the lame-duck session, it will be the first thing I get done as president of the United States . . . A fiscal stimulus plan that will jump-start economic growth is long overdue. I've talked about it throughout this - the last few months of the campaign . . . we should get it done.""
While I have little doubt that Barry, Harry and Nancy will try to dust off the ineffective gimmick of sending out $500 checks; I doubt that it will get done before March and I guarantee you that it won't be effective.
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