If I hear one more time...

that Barak Obama is going to lower the taxes for 95% of Americans, I am going to lose my mind.

I was having a conversation with a friend a few weeks back and he pointed out this statistic is mathematically impossible. The only way you could give a tax cut to 95% of taxpayers is if at least 95% of the population is currently paying taxes. It is estimated 40% of tax payers don't pay any federal income tax at all. (Before anyone gets on me, I realize we all pay Social Security and Medicare tax.)

How then, can you give a tax break to 95% of Americans if only 60% of Americans pay federal income tax to begin with? It must be the new math they are teaching in our schools. When I learned basic math, I was told you cannot have a number less than zero. What then is Barak Obama talking about?

My fear is that he is talking about the expansion of welfare payments and income redistribution thru the IRS. Did you know it is possible to get a larger refund than you paid in withholding? Depending on your deductions this is possible.

Let me put this plainly to you. There are "taxpayers" who have $7000 withheld thruout the tax year and then get $8000, or probably more, back from the IRS. Is that tax policy or social welfare? Not only are these folks not paying their share, they are a burden on the system.

Now I realize there is a need for basic social services and welfare. US citizens deserve a helping hand when they are in need. However, as I have discussed before, there needs to be limits to these programs and there needs to be value delivered by the recipients of these programs.

The problem here is that our "leaders" have been allowed to bastardize the tax system to provide subsidies. This practice needs to stop and Obama wants to expand it! How else would he give a "cut" to the 40% of the population who pay nothing to begin with?

I need a drink. This debate is driving me crazy.

God help us all, and God bless America,
EG
erik@exchngeyourgovernment.com