Political Rants from the Right

I’m sure all of you on the left watched that fluff piece on TV tonight coming from “that one.”  I just happened across it tonight as I was waiting for the World Series to come on.  I thought I was just watching a quick political ad before I realized it was a stupid-assed infomercial.

How pathetic is that?  That is such a damned disgrace to the highest office in this country that a candidate has to have an infomercial to state his case!  I watched it for a little bit - just enough to realize that he will drive this country in to the ground if he gets elected.  This asshole thinks he’s already the President for crying out loud - did you notice that backdrop that has the appearance of being the Oval office?

The only thing this infomercial proved to me is that he’s running scared because the polls are tightening.  In no time in the history of this country has ANY Presidential candidate ever stooped so low and commercialize the campaign.  He advocated Universal Healthcare which we all know is based on rationing of services.  If any of you guys bought in to this bullshit - I feel sorry for you.  DO YOU NOT KNOW WHO YOU ARE SUPPORTING?  Look at his history!  You can’t tell me you believe his lies do you?

Do you not understand his tax plan?  He says it’s about helping the middle class. His tax plan will HURT the middle class!  Wake up people!  Did you notice how he lowered it from $250,000 to $200,000 now?  Who’s to say he’s not going to keep lowering that ceiling amount?  So, if you’re middle class - you think you won’t get hurt by his tax plan?

Hmm..let’s see - who has the lion’s share of the money in 401(k) savings plans?  Oh..that’s right - the middle class.  Forget about all the talk about Democrats doing away with your 401(k) - let’s assume nothing happens to it.  Here’s what happens to your 401(k) under Obama’s plan -

He raises the capital gains tax - yes - your 401(k) is subject to this tax that goes up to 28% from 15%.  Everything you earn above the amount you contributed is subject to that tax.  He takes almost 1/3rd of your earned interest.

He raises the inheritance tax - yes - your 401(k) is subject to the inheritance tax - that goes up to 55% from 0% under his plan.  Should you die and have any funds left in your 401(k) half of what is left goes to the government.  You can’t pass on the remaining balance to your heirs.

Here are other things WE middle class people need to think about with regards to his so-called tax cuts -

Are you one of the fortunate people who were smart enough not to buy in to one of those interest only or ARM loans and own your home?  Good for you.  Guess what happens when you sell that house?  Yup - the difference between what you bought the house for and what you sell it for is subject to Obama’s capital gains tax.  You lose 28% of the profits on the sale of your house.

Income/Payroll taxes go up from  37.4% to 52.2%.  The biggest increase is in the Medicare and Social Security taxes coming out.  This means you have less take home pay - and - it can’t be recovered or claimed on your return in April

Do you work for a company that has an Employee Stock Purchase Plan?  Those are great.  You can buy stock in your company usually at a 15% discount.  You’ve been working for that company for years and have been amassing your small fortune in the company’s stock.  In the meantime - you’ve been earning dividends on those stocks - under Obama’s plan you are now taxed 39.6% on those dividends up from the current 15% rate.  Now, it’s time for you to retire and cash those out - under Obama’s plan you get hit by the capital gains tax again.  The capital gains is calculate at the price of the stock when you purchased it - but at the discounted rate you paid - you get hit by the 28% capital gains tax again!

Now - here’s the great thing about that tax plan for the middle class - guess who REALLY benefits?  Those 40% of this country that pay NO tax.  How is that you say?  Let me break it down for ya:

These are all simplified numbers:

Throughout the year you paid $8,000 in taxes.  When you do your income tax at the end of the year there are 1 of 3 things that could happen.  1.) you get a refund.  Let’s say that after you take in to account all the tax credits Obama gives you - your actual tax liability is $6,000.  You get $2,000 back!  Okay!, 2.) After all the tax credits, it turns out your tax liability is $8,000 - you break even - no refund, no payment, or 3.) After all the tax credits, it turns out you’ve had too little taken out and your actual tax burden was $8,500 - you have to pay $500 to the IRS.  In all cases - you still had a tax burden.

Now - for those 40% who effectively pay no taxes - here’s how it works out for them:

Over the year - they paid $4,000 in taxes.  When they do their taxes at the end of the year it turns out their tax burden was actually $0.  So, they would get that $4,000 refund.  They will never be at a point where they had too little taken out because they had not tax burden to begin with.  They can’t break even because taxes have been taken out.  To break even - they would have had no income taxes taken out of their check the entire year.  But - with the extra tax credits that Obama gives them - the get a net negative tax burden.  They get an extra $500 under the EIC, they get an extra $500 under the employed worker tax credit, and the get an extra $500 dependent credit.  So - not only do they get back the $4,000 tax refund - the get an additional $1,500 that they NEVER paid to begin with!  Where do you think that comes from?  That’s right - you - the middle class who actually ARE paying taxes and do have a tax burden.

This is wealth redistribution - or - spreading the wealth as Obama puts it.  Is this really what you want to vote for?  Do you think this is fair that you work your ass off to pay your mortgage and take care of your family and pay your taxes like you’re supposed to do - just to have Obama give it away to those who don’t deserve it just because they have a lower paying job?

And - what about his socialized housing plan he talked about in that pathetic infomercial?  You didn’t catch that?

He plans on freezing foreclosures for 90 days and changing bankruptcy courts to allow judges to revalue the mortgage price on a home. First - he helped cause the mortgage crisis.  This plan is socialized housing!  He’s interfering with business operations.  The only one’s to blame for losing their homes to foreclosures are those idiots who got in to those A.R.M.s knowing they couldn’t afford that house.

So - here you are - Mr and Mrs. Middle class - working your butt off - making your mortgage payments on time.  Your neighbor’s home is being foreclosed on because he can’t afford his mortgage payments.  Mortgage payments that he could never afford when he purchased the home to begin with.  The mortgage lender wants to foreclose on that house so they can take it over and sell it again.  Under Obama’s plan - the mortgage company is not allowed to foreclose on that house.  The mortgage company now begins to have troubles because they have a lot of homes in their inventory they aren’t receiving money on.  The mortgage company has obligations also - but - they don’t have money coming in.  Now - a judge steps in and says to your neighbor - how much is your mortgage payment?  Your neighbor says $1,200.  The judge asks him - how much can you afford?  He says - well, maybe $500.  The judge says - okay - your new mortgage payment is now $500 and the mortgage company has to devalue the loan to meet the payment.  The mortgage company is not allowed to accrue the interest.  So - again - the mortgage company is losing money - they start laying off people.

Now - you see what happened to your neighbor - and you’re asking yourself - how the hell can that be right?  Now, not only has your neighbor gotten off scott-free - because his home has been devalued - now - so has yours.  You won’t be able to sell your house at the value you thought you could because homes all around you are getting devalued because of these judges.  But - you still have to pay your full mortgage amount because you’ve been paying on time.  And…you’re still paying your taxes - and - since your neighbor was never really in a situation to afford that house - he’s also receiving rebate tax checks from you the taxpayer (see above).

If this is the kind of America you guys want to live in - the U.S.S.A. - then, by all means - vote for that socialist Obama.  But - there’s a reason he put on that infomercial - his poll numbers are slipping every day.  The latest IBD poll puts Obama at 46% and McCain at 43% with a 3% +/1 margin - a statistical tie considering he had a double digit lead last week.  There are 8% out there still uncommitted.  Last week it was at 11% - that shift went to McCain.  The polls are now showing Obama starting to lose in PA - a very Blue state.  I guess they don’t like being called racist rednecks there.

Obama had a lead in Florida last week - that now goes to McCain right now.  Same for Ohio - despite the fact they are registering homeless people and a judge today said that the homeless are allowed to register using addresses for park benches (yup - that’s right!). He’s also slipping now in North Carolina, Michigan, and Iowa.

Just saying!

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