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October 27, 2008

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"... with one reason being I think taxes are going to rise during his administration."

As a general statement, taxes -- I presume you're speaking of income taxes -- are going to rise regardless of who wins the presidency. If anything, you should realize by now the tax reforms of 2001 and 2003 were political gimmicks of questionable positive economic impact. Chances are the lower rate for your income bracket has already expired (if its savings wasn't already offset by the AMT). There are specific credits and exemptions that remain in place, however.

More factcheck.org; less Fox News.

Listening/reading that interview reminds me of some other remarks that Obama made. He said something about how he couldn’t take away our guns if he wanted to because he doesn’t have the votes. Now that makes me think that if he did have the votes that he would. But as we see the democrats polling better and better in several races, will we see Obama try and take away guns if he thinks he has the votes?

Yes, the tax breaks were a gimmick, one that I wish would stay around. But my concern is beyond those.

I forgot. I am also reminded of a comment that Obama made about single payer healthcare. He said tat if we were starting from scratch (whatever that means) then could support a single payer system. Now even having the most remote support for a single payer system shows that you are to the left of many people (voters).

Let’s assume that there were no Bush tax cuts in 01 and 03, does that mean that Obama would impose a higher tax on “the rich” in order to give millions upon millions of people who pay no taxes (many who are already getting a refundable tax credit through EIC) a $500 or $1K check? I would think that the answer would be “YES.”

I am also sick of hearing the words “economic justice.” It’s just talk for even more gov’t programs. In my opinion economic justice is responsibly spending taxpayer funds. It is having transparent gov’t. It’s keeping taxes low for everyone. It sure ain’t more gov’t agencies like Freddie & Fannie.

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