Wednesday, March 18, 2009

When is a tax cut not a tax cut?

If you follow this Blog at all, you will know I was not, am not, and never will be a fan of McCain or legacy Bush league economics. I don’t just believe we need change, but 8 years of the same practically proves that anything would be better then “staying the course”

I was also a big supported of Obama during the election… but before the first 100 days is over, I am having a moment of pause regarding our 44th President.

I recall the famous line, “Read my lips, no new taxes” by a certain president who would later raise our taxes. So it should not be a surprise to anyone that what was said on the campaign trail does not often lead to actual policy.

I am also adult enough to know that things change in this country quickly. The needs and the nation shift often so what we said yesterday may not be as sound today as a strategy…
But all that said… there are some things happening now that shake my faith. I still want change… but some of these changes scare the crap out of me…

Obama calls for tax cuts for the middle class… This is good right? Less money being taken out of my check? A stimulus that delivers a little bonus each week (about enough to get a Happy Meal)..,

So maybe the stimulus is not so stimulating… but hey it’s not an increase right?

Well maybe not as far as some taxes are concerned, but the recent news of Obama supporting a plan to tax Health Care money provided by employers to their employees? How is this not a tax increase?

I am a simple Idiot so when I think of no tax increase, I see that as I do not have to pay higher taxes overall the I did last year based on my income which health care supplemented by my employer was not part of.

Now the 9000 I get towards my healthcare from my employer will be taxed… out of my pocket? Smells like an increase to me.

So is it any wonder when Billions are going to companies to bail them out, we the people are footed the bill, and in order to support new initiatives, we have to pay even more… that we the people are getting angry.

I am glad to have a job (for now anyway) and I want to help support those programs that help other taxpayers who have fallen on hard times but eventually we will be paying so much out of pocket we will have nothing left to help us help ourselves… and we become part of the system asking for bail outs…

Side Note: Soon as I get a bail out, I plan to give myself a bonus of 125 million dollars. Worked for AIG, why not DSF.

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