Quote:
Originally Posted by Axeman
I said I would send it you for your child's education fund. no bet, if he loses you still owe me nada.
The spread the wealth is an issue that is interesting but it basically is at the basis of his tax plan. Tax the rich and then give that money to the poor with the refundable tax credits to people that have no income tax liability currently. Basically they get checks from the IRS every year even though they paid nada. I was kinda stunned Obama told Joe the plummer that it what it is, and even more surprised he didn't try to deny it in the debate as that is an issue that could be a hot button issue.
Its basically welfare. Instead of taking the increased taxes and putting that into the budget, he actually is taking the money and giving it to the lower and middle class directly.
This is one of things that bugs me the most about him actually. The other is his health care plan. It doesn't go near far enough to get true universal health care. Clintons plan was much better but even that fell short. One saving grace on that issue for me is that when the Democrats get fillibuster proof senate and house, maybe they will push thru a more universal plan than currently on the table.
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RE: Spread the wealth around
The earned income tax credit was actually Reagan's idea, and it was expanded under Clinton. (This is the refundable tax credit for people with no tax liability)
It was created to make work more attractive than welfare. IMO they should just raise the minimum wage above the poverty level and get rid of the EITC....but what can ya do?
Hillary's tax plan was very similar to Obama's. Basically put the top brackets, plus capital gains and dividends back where they were under Bill Clinton. Why Obama characterized it as "spreading the wealth around" I dunno, and agree it could be a hot button issue.
That's not how I see it, I see it as the people who have benefitted most from our system paying the most to keep our system going.
Anyhoo
RE: Health Care
You're right that they may get a more comprehensive bill passed if they get close to 60 democrats in the Senate....and Obama has shown just during the course of this campaign that he's not an idealogue, he's a pragmatist, and is willing to negotiate to get things done.
Although the democrats had the majority the first time we tried universal health care in 1993 and it didn't go through. So we may actually end up with a plan less comprehensive than the one Obama is proposing, and have to try and add to it from there.
At least we know this time we'll get "something", instead of a scuffle, a cloud of dust, and alot of finger pointing....which is what we usually get.