Webs’ Random Ideas

Altruistic IT Writings

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Obama’s Tax Plan

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I keep hearing the word redistribution every time I hear anyone republican talk about Obama’s tax plan. So I decided to look into where this comes from. Basically it works like this (so say republican sources), Obama is going to tax the rich at a higher rate, and give tax cuts to those not paying anything in taxes already. Thus redistribution of the wealth of the rich.

Well I thought this still sounded strange to me so I looked and did some simple Google searching to find some information. Here’s one source I found that is old, but still does a great job of explaining Obama’s plan which hasn’t changed since he started running for president.

His plan means billions in breaks by nixing income taxes for the 7 million senior citizens making less than $50,000 a year, establishing a universal credit for the 10 million homeowners who do not itemize their deductions — most of whom make less than $50,000 annually — and providing 150 million Americans with tax cuts of up to $1,000.

“I’d reward work by providing an income tax cut of up to $500 per person — or $1,000 for each working family — to offset the payroll tax that they’re already paying,” he said.

Did you catch that? You should of, I highlighted it for you… :) Each Bush election we heard how his tax plan was to cut taxes for the lower class so they wouldn’t pay a dime. But what Bush failed to mention was those are income taxes he is cutting (which for a family making under $50,000 already was very low) not payroll taxes (which at the same election time either 00 or 04 were higher than the payroll).

So while it sounds like Obama is a “redistributionist”, he is really just trying to help people offset their payroll taxes with a greater tax cut. And this cut is going to families that work, not those that sit on their ass and collect welfare.

But what about those taxes on the rich…

Obama also said he would repeal the Bush tax cuts for the wealthiest 1 percent of Americans.

“At a time when Americans are working harder than ever, we are taxing income from work at nearly twice the level that we’re taxing gains for investors,” Obama said. “We’ve lost the balance between work and wealth.”

We are taxing income from work at nearly twice the level that we’re taxing gains from investors. Seems to me like that is a balance out of wack. Why? Because few people in lower and middle classes prosper from the current model.

Obama proposes funding the tax cuts by closing corporate loopholes, cracking down on international tax havens and increasing the dividend-and-capital-gains tax for the wealthy, he said.

He called his proposal a “fair” alternative to the present tax code and said it was necessary because hard times on Main Street translate to hard times on Wall Street.

“When the changes in our economy are leaving too many people behind, the competitiveness of our country risks falling behind,” he said. “When that dream of opportunity is denied to too many Americans, then ultimately that pain has a way of trickling up.”

If you want to see what Obama himself says about his plan: Obama’s official claim on his website.


Damn Those Obama Supporters

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It Appears Penn is Going to Obama

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As well as Ohio and Florida. I realize these are all early projections, but if true I fail to see how McCain still can win. All pretty big news.


Republican Protest Raids

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Any rational person planning to protest the GOP Convention would, in light of this Government spying and these police raids, think twice — at least — about whether to do so. That is the point of the raids — to announce to citizens that they best stay in their homes and be good, quiet, meek, compliant people unless they want their homes to be invaded, their property seized, and have rifles pointed at them, too. The fact that this behavior is producing so little outcry only ensures, for obvious reasons, that it will continue in the future. We love our Surveillance State for keeping us safe and maintaining nice, quiet order.

An excerpt from a well written Glenn Greenwald post. What will it take to get you upset enough to do something? For those of you already peeved, you can call the office of St. Paul Mayor Chris Coleman here: 651-266-8510.


T. Boone Pickens’ Plan

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Hopefully the argument of dependency on foreign oil and using alternative energies can be laid to rest.

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Not a bad idea really. Sure I would rather see a faster transistion to alternative energy, but we do not have the infrastructure to transistion over night. Nor are we currently spending enough money on research to advance technology.

But how exactly does the plan work?

The Pickens Plan is a bridge to the future — a blueprint to reduce foreign oil dependence by harnessing domestic energy alternatives, and buy us time to develop even greater new technologies.

Building new wind generation facilities and better utilizing our natural gas resources can replace more than one-third of our foreign oil imports in 10 years. But it will take leadership.

Seems like a good idea to me. Check out the site and see what you think.


Crazy Times at the DNC 08

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Check out this blog

Thanks to Pete for the link.


Where did I Hear This Before

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A must see!


Gov. Schwarzenegger
by burghnews

And where did we hear this from… if only I could remember… That’s right, Obama said the same thing and McCain had these comments. If only Arnold could run as Obama’s VP. Damn that would be awesome!

Found via DOF.


Bag O Mail: Impeach Bush

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I got an email from a good friend today that Kucinich has introduced 35 articles of impeachment against President Bush. As much as I like to hear this, it couldn’t have come at a worse time. Problem is impeachment is less about righting a wrong nowadays. It’s more about political witchhunts.

So Dems will never do this right now while they have the upper hand in this election. They can smell victory and Impeaching Bush would make the Dems look bad. I know it’s the right thing to do and should be done to show the decider-in-cheif we mean business. But the fallout of such a move would be bad…

Still we can dream.


Obama and Health Care

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How do you heal a wounded party and a shrinking voter base that wanted Hilary all in one swoop. You say this at the end or your speech in Raleigh North Carolina:

“By the way, I’m going to be partnering with Elizabeth Edwards, we’re going to be figuring all this out.”

WOW!

Found via Blog Around the Clock


Obama’s Presidential bid Speech

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I haven’t seen it yet, but plan to watch next chance. If you missed it, here it is below…

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