Obama's Economy

While most people who work in this country have income taxes deducted from their paycheck, many have those taxes refunded to them in a nice sized check. Sometimes they actually receive more than they actually paid. It’s been estimated that only 60% of individuals don’t receive all of their withheld taxes from the IRS. Put another way, only 60% of working Americans are paying income taxes.

Senator Obama claims that he would cut taxes for 95% of Americans. Wouldn’t that mean that he’s going to give more money back to people who already get all of their money back from the IRS? What does that mean for the people who currently receive more money than they pay into the system? Are they going to get even more money back? Where does that extra money come from? The government took it from somebody else! Currently, 60% of working Americans are supporting 100% of our population. Under Senator Obama’s plan the 60% paying taxes would decrease and the percentage of people being supported would increase over 40%.

It doesn’t take a rocket scientist to see that these numbers don’t add up and that such a lopsided ratio can’t last for long. It’s no wonder we have deficits every year. Throw in the national debt and our country is headed for a train wreck. No wonder politicians keep saying they have to reform Social Security and other programs. They’ve had to steal the surpluses from these programs in order to make up the shortfalls in other programs.

On top of the obvious crisis our government is speeding towards Obama wants to speed up the train with his promise of $800 billion in new spending. This was before the $700 billion bailout plan or “rescue package” depending on how you look at it. Even after this package became law Senator Obama still hasn’t amended his economic plan to compensate for the additional debt. We already owe China $500 billion and they don’t even like the United States. Is this man a flat-out liar or does he just not understand that the treasury has a finite amount of money?

Obama must be stopped. We know very little about him and less than a month before the election we still don’t know of any legislation he has ramrodded through either his state legislature or the U.S. Senate in his estimated 15 years in public office. Now, he’s asking us to promote him to the highest office in the land and he hasn’t even shown himself competent of his current or previous position. If nothing else, he’s proven that he has a complete misunderstanding of our economy.