Another Explanation Of Obama’s Tax Plan In Cartoon Format

obama

This says it all.  No further commentary needed.

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The Tax Foundation Exposes Errors Made In The VP Debate

If you watched the Vice Presidential Debate you know that both VP candidates talked about taxes.  Both tickets are running on providing a tax cut.  Who gets it depends on the candidate and their plan.  It can get complicated.  I don’t pretend to understand all of the details on how each proposed plan will work but since it affects me (and you) directly, I try.  One of the resources that is a big help to me in keeping up with how things will really work is The Tax Foundation‘s website and blog.

They have posted a list of errors made by both Biden and Palin during the debate concerning tax issues.  Click here to read the article.  It is interesting to see what these mistakes were and to then consider if they were truly mistakes or attempts to mislead the voters.  You will have to look at the list and decide for yourself.

Comparison of Senator McCain’s and Senator Obama’s Tax Plans

This article gives a nice side by side comparison of the two candidate’s tax plans.

Walter Williams On Price Controlls

“Controlling the price of anything is very difficult and it can only be accomplished through the force of government, mostly by restricting supply. The U.S. Congress is a major player in oil supply restriction, and OPEC nations must be laughing all the way to the bank. Congress has banned energy exploration in 85 percent of our coastal waters. Ironically, China, in conjunction with Cuba, is drilling for oil nearer to our coastline than U.S. oil companies are permitted.” —Walter Williams

Sources: The Patriot Post

Thomas Jefferson On Taxation

“Would it not be better to simplify the system of taxation rather than to spread it over such a variety of subjects and pass through so many new hands.” —Thomas Jefferson

Source:  The Patriot Post

How Democratic Politicians View Taxes

This is a very telling video.  It gives a great incite into the way Democrats view taxes and their use in government.

Would you now agree with me that it is time for us to change the tax structure in this country?  If you do, click here to read how.

Thomas Jefferson Quote on Excessive Taxation

“Excessive taxation…will carry reason and reflection to every man’s door, and particularly in the hour of election.”

— Thomas Jefferson (letter to John Taylor, 1798)

Source:  The Patriot Post

Alan Keyes Quote On The Income Tax

“Tyrannical taxation, and excessive government spending and borrowing, are not only threats to our economy—they erode the resource base of our freedom and our moral responsibility. The income tax is a 20th-century socialist experiment that has failed. Before the income tax was imposed on us just 85 years ago, government had no claim to our income. Only sales, excise and tariff taxes were allowed. We need to return to the Constitution of economic liberty that our Founders intended to be a permanent bulwark of our political liberty. The income tax in effect makes us vassals of the government—the politicians decide how much income we can keep. No mere ‘reform’ of this slave tax, such as flattening the rate, can correct its fundamental denial of control over our own money.”

— Alan Keyes

The Fair Tax – Do You Know What It Is? Do You Support It?

Click here to see what it is.

The Fair Tax is basically a national consumption tax.  This is a more fair way to tax our people.  I would love to see us go to this type of tax.

The FairTax: (from their website)

  • Abolishes the IRS
  • Closes all loopholes and brings fairness to taxation
  • Ensures Social Security and Medicare funding
  • Brings transparency and accountability to tax policy
  • Allows American products to compete fairly
  • Reimburses the tax on purchases of basic necessities
  • Enables retirees to keep their entire pension
  • Enables workers to keep their entire paycheck

What do you think?  Would you like to see this change in our tax system?

Deficit Drops to 1.2% of GDP

This graph was posted over at RedState.

It is interesting to see just how the tax cuts passed when during the Bush presidency effect the economy.  It is proof that lower taxes actually increase the tax collections of the federal government.  Keep this in mind as we get into the election season coming up during 2008.  Which party advocates lower taxes and which party advocates raising taxes.  If you don’t know, the Republicans advocate lower taxes while the Democrats advocate raising taxes.

To be fair, the Democrats usually say they want to raise taxes on the wealthy and corporations.  I want to tell you though that this is a meaningless claim.  All taxes are actually paid by the end consumer.  This is because tax increases are passed on in the form of higher costs for the goods purchased by the end consumer.  So any and all tax increases will be paid by everyone…not targeted as the Democrats like to claim.  Keep that in mind also as you go to the ballot box.