posted on Oct, 13 2008 @ 08:36 PM
Obama's tax policies are about fairness and stimulating the economy.
While many conservative support the idea of trickle down economics, which has been proved to be an economic fallacy during the Bush Administration and
McCain supports it, the Obama camp is basically appealing for a form of windfall tax and when it comes to tax policy obviously one side gets screwed
usually, sometimes both, but in this case one.
For the last 8 years its been the high income earners, big corporations that have benefited from this to no benefit of the country. Last time a form
of windfall tax was used was during the Clinton administration and we had a booming economy and he manage to leave office with a surplus.
So first, let throw away this notion that Obama is a socialist becasue of the tax policy he wants to implement.
Is he going to raise taxes? YES,
For what purpose? To stimulate the economy by giving much deserved tax cuts to the middle class and the poor.
How is he going to pay for it? By letting the Bush tax cuts expire, by increase taxes on oil companies, by increasing taxes on the top 5% of
Is it fair? On a fair world NO, but given the current economic situation I think his policy is acceptable.
My view on Obama tax policies is that it is ok as long as he keeps his vision on why he is rasing taxes, if it is to create more big government then
he should go to hell with his tax increases.
The benefits of his tax plan need to be tangible to those he is saying he is going to help, no a repeat of Bush tax policies.