A Tax Plan from the Land of Narnia–Obama lays out plan 21 September, 2007Posted by David Anderson in Economic Policy, Election 2008, Fair Tax.
When I read Senator Obama’s middle class tax cut plan, I was reminded why it pays to have a President who has actually run something. A corporation, a large ministry or NGO, a state, or even an Amway distributorship will do. Here is his wonderful plan. Raise taxes on the rich businesses and give it to seniors, lower middle class earners, and the poor. He claims there are a trillion dollars in corporate tax loopholes. Well the entire economy is only around13.2 trillion dollars. Total corporate profits in the entire decade of the 1990’s was only 4.5 trillion dollars. Total annual corporate taxes are just 370 billion dollars or so. My point is only in the Mythical Land of Narnia could those numbers be twisted to equal a trillion dollars in profits unless he wants to own all corporate profits and then some. Citizens for Tax Justice may have found their candidate.
Those who are looking for a better job in the next 4 years have not. Senator Obama’s tax policies would take us into an economic land of perpetual winter, and I thought Hillary was the Ice Queen.
Senator Obama has obviously not had much experience with the part of America which works and creates wealth. He is a career activist and professor of law. I would like to help the Senator a little. Read the Fair Tax Book. It’s your assignment before the next press release on economic issues. The only place your plan will create jobs is in a mythical land.