Oct 13 2008
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Obama's 95% Illusion - WSJ.com
Good article on Obama’s careless use of the term “tax cut” when he really means “tax credit” — a term which few outside of daily tax pracitioners actually know the meaning.
Considering the fact that the recent financial bailouts have pushed the country to the brink of socialism already, and given this tax plan’s welfare state leanings, I worry that lower & lower-middle class families who will already be disenfranchised by the fact that they can’t get loans for homes, transportation, and business ventures will lose motivation to work & innovate in this handout environment — ultimately putting enormous strain on the less than 50% of the population who actually have a tax liability.
