red states rule
10-24-2008, 04:57 AM
How will the messiah cover the ticking bomb of Social Security and Medicare if he gives the money back to people in the form of income tax refunds?
snip
Look at the "tax cut" he says he'll give to 95 percent of Americans. In fact, this is simply a government check he'd hand out - including to millions who don't pay income taxes, since each year 38 percent of Americans already get a full refund.
In other words, his "rebate" is a welfare plan, plain and simple.
When called on this, Obama's answer is that those 38 percent still pay payroll taxes, so he's rebating part of those payments. But that actually puts him deeper into the socialist hole. Here's why.
Payroll taxes go to fund Social Security and Medicare - the main US social-insurance programs. The taxes are dedicated because these are insurance programs - you're paying so that you'll be covered when you hit retirement age.
But, down the line, these programs face a financial crisis even worse than the housing mess that we're in now. They need literally trillions more dollars (above what they're set to take in) to meet their current obligations. By federal law, absent those new funds, every retiree will automatically have his or her benefits cut.
If Obama means to rebate those payroll taxes from the Social Security/Medicare funds, he's accelerating the bankruptcy of those programs. If not, he's still transferring money from people who pay income taxes to those who don't.
http://www.nypost.com/seven/10232008/postopinion/opedcolumnists/a_new_welfare_state_134859.htm
snip
Look at the "tax cut" he says he'll give to 95 percent of Americans. In fact, this is simply a government check he'd hand out - including to millions who don't pay income taxes, since each year 38 percent of Americans already get a full refund.
In other words, his "rebate" is a welfare plan, plain and simple.
When called on this, Obama's answer is that those 38 percent still pay payroll taxes, so he's rebating part of those payments. But that actually puts him deeper into the socialist hole. Here's why.
Payroll taxes go to fund Social Security and Medicare - the main US social-insurance programs. The taxes are dedicated because these are insurance programs - you're paying so that you'll be covered when you hit retirement age.
But, down the line, these programs face a financial crisis even worse than the housing mess that we're in now. They need literally trillions more dollars (above what they're set to take in) to meet their current obligations. By federal law, absent those new funds, every retiree will automatically have his or her benefits cut.
If Obama means to rebate those payroll taxes from the Social Security/Medicare funds, he's accelerating the bankruptcy of those programs. If not, he's still transferring money from people who pay income taxes to those who don't.
http://www.nypost.com/seven/10232008/postopinion/opedcolumnists/a_new_welfare_state_134859.htm