WSJ: Obamas 95% Illusion
 

http://online.wsj.com/article/SB122385651698727257.html

:upsidedow

Redistribution of wealth

The article confuse me.

"All but the clean car credit would be "refundable," which is Washington-speak for the fact that you can receive these checks even if you have no income-tax liability."

Seriously? How 'open of a theory' is that statement? They are trying to say, every American that never went to school/has no school loans will get a tax credit? You have no kids, but you get a credit?

People without a mortgage, that don't file (some how the irs knows their address) and they will get a check back?

Thank god that article is filed under: Opinion Journal forum.

http://www.omget.com/image/78.jpeg

Yay, another insignificant polithread :D

you mean fox news in print?

He's trying to play Robin Hood. Take from the rich and give directly to the poor.

Funny that no one ever understands that inflation is a hidden tax. Politicians cut your taxes then devalue your dollar and you think you just had your taxes lowered when in reality your dollar is worth so much less that really you would have been better off just paying more in taxes.

I agree inflation doesn't get talked about enough. I was particularly curious during the rapid rate cuts over the past year forcing the value of the dollar down.

That's the point of the Rupert Murdoch run smear machine.

That article has been debunked far and wide across the progressive internet.

"The fact that high earners pay the vast majority of all federal taxes will come as a surprise to most Americans, who believe the middle class bears the tax burden while the rich get off scot free. A 2007 Gallup poll found that 66% of Americans believe upper-income people pay too little federal income taxes."

taxing the rich higher is one thing, but giving that money directly to lower income people via refundable tax credits is welfare.