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The 95% Illusion

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NRAJ:
http://online.wsj.com/article/SB122385651698727257.html

I'm sorry if this is a repost.

NRAJ:
Doesn't anyone have an opinion on this or any other info relating to it?

AsheDina:


  Yes, I have an opinion: the real reason behind the economic shake up is b/c investors ABSOLUTELY know that under an obama admin. They would have lost all & more.  The reason that this wall street shake up is happening is b/c they KNOW that it is highly likely that Husseion obama will win.  This 95% is 95% LIE. Just another LIE from Hussein obama.

NRAJ:
I'm talking about this part of of it:



"- A $500 tax credit ($1,000 a couple) to "make work pay" that phases out at income of $75,000 for individuals and $150,000 per couple.

- A $4,000 tax credit for college tuition.

- A 10% mortgage interest tax credit (on top of the existing mortgage interest deduction and other housing subsidies).

- A "savings" tax credit of 50% up to $1,000.

- An expansion of the earned-income tax credit that would allow single workers to receive as much as $555 a year, up from $175 now, and give these workers up to $1,110 if they are paying child support.

- A child care credit of 50% up to $6,000 of expenses a year.

- A "clean car" tax credit of up to $7,000 on the purchase of certain vehicles.

Here's the political catch. All but the clean car credit would be "refundable," which is Washington-speak for the fact that you can receive these checks even if you have no income-tax liability. In other words, they are an income transfer -- a federal check -- from taxpayers to nontaxpayers. Once upon a time we called this "welfare," or in George McGovern's 1972 campaign a "Demogrant." Mr. Obama's genius is to call it a tax cut."

jaime:
gee, that's marvelous.  i'm gonna vote for him :beast:

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