OBAMA/BIDEN ECONOMIC PLAN A FRAUD

OBAMA/BIDEN ECONOMIC PLAN A FRAUD

The media and candidates assure us that the number one issue in the minds of prospective voters is the economy, so this week we will address that issue; and we’ll do it clearly and concisely. Two concerns right off the mark: (1) If Americans are nervous about the economy, why on earth would they turn to a Democrat for help? (2) If Americans are nervous about the economy, have you heard Barack Obama say anything beyond vague election-year promises?

We don’t want to waste any time on adolescent bantering, but the truth is that our present economic conditions are a direct product from the seeds of eight-years of Bill Clinton. It is also true that Congressional Republicans failed to deliver on their contract with America . And now let’s get down the brass tacks.

With everything going on in your everyday life, you don’t have the time, and probably not the inclination to spend hours sifting through, and thinking about the Obama/Biden Economic Plan. Neither do the authors of that website, apparently. After considering tens of thousands of words of gibberish, what we found are volumes of proposals, policies, programs, and promises, and less than 10% of these ideas come close to responsible or prudent. And this is apparent at the very beginning. According to Mr. Obama:

Wages are Stagnant as Prices Rise: While wages remain flat, the costs of basic necessities are increasing. The cost of in-state college tuition has grown 35 percent over the past five years. Health care costs have risen four times faster than wages over the past six years. And the personal savings rate is now the lowest it's been since the Great Depression.

Tax Cuts for Wealthy Instead of Middle Class: The Bush tax cuts give those who earn over $1 million dollars a tax cut nearly 160 times greater than that received by middle-income Americans. At the same time, this administration has refused to tackle health care, education and housing in a
manner that benefits the middle class.

In laying his predicate, Obama wastes our time with what we already know. In 1954, a loaf of bread cost five-cents. In fifty-five years, prices have increased; but I also know that back then, my father earned $60 a month; when he retired in 1972, he earned over $3,000 a month. Next, Obama typically engages in Marxist class-warfare, a classic saw within the Democratic platform. The facts tell us something else. According to U. S. Treasury Department, taxpayers in the top half of income paid 96% of the total income tax revenues. In future years, the percentage of income tax paid by middle class citizens who fall into the bottom half of income earnings will be less than 4% of the total. That presumes, of course, that Barack Obama is defeated in this election. So it would seem that Mr. Obama is being dishonest. If the American people elect Barack Obama to the presidency, taxes will increase across the board. And the proof of this is that Barack Obama cannot increase government spending AND provide meaningful tax cuts to “95% of the American workers.”

Barack Obama claims that he has a plan to jumpstart the economy — and he plans to do this by giving “something back” to Americans. At the very outset, he wants to tax oil company profits to give American families a $1,000 rebate. Now if you lack critical thinking skills, this sounds great. History tells us that government does not exist to give us money; in fact, the opposite is true. Every “benefit” costs the American worker money. But now consider, if these funds come from the “greedy oil companies,” what is the likely consequence to the cost of gasoline and heating oil? By the end of the first year, Obama’s rebate checks might offer consumers with a “break even” scenario.

He also wants to give $50 billion to state and local governments so that each of us can have access to health, education, housing, heating fuels, as an offset to property taxes. Forget that federal grants do not offset state, county, or municipal taxes, but do think about this: his allocation of one-billion dollars to each state, if distributed on a per-capita basis, is a laughable benefit. In California , the per-capita share of one-billion dollars is $27.35, and in Pennsylvania , it comes to $80.43. Once again, Barack Obama is following the example of Bill Clinton in 1991 — promises made, promises broken.

Obama wants to provide “a tax cut” to middle class Americans. This is what he wrote:

Provide a Tax Cut for Working Families: Obama and Biden will restore fairness to the tax code and provide 150 million workers the tax relief they need. Obama and Biden will create a new "Making Work Pay" tax credit of up to $500 per person, or $1,000 per working family. The "Making Work Pay" tax credit will eliminate income taxes for 10 million Americans.

Mr. Obama is not going to cut taxes. It is impossible to cut taxes for 150 million Americans — half of our entire population, when he in fact intends to increase spending by $3 Trillion. Our grandfather might have noted, “This dog won’t hunt.” Additionally, ten million Americans is roughly three percent of our population, so at this point we must ask, “Who benefits most from the Obama plan?” The answer is, “Not the average American.”

Barack Obama and Joe Bide believe that foreign trade should strengthen the American economy; it should create more jobs for Americans. Obama vows to “fight for fair trade,” which means that he will erect trade barriers that will make imported goods more expensive, and domestic made goods less appealing to foreign consumers. How does this help “jump-start” the economy? The answer is it doesn’t. Two issues come to mind. The first is, think about an increase in the retail cost of Chinese-made “junk” you find on the shelves at Wal-Mart. Second, what will happen to American jobs when foreign buyers no longer purchase domestic-made goods? Does Obama have a realistic goal for our economy? No, he does not.

Several years ago, a thoughtful schoolteacher noted the following: when her school district gave teachers a raise, there was a direct and immediate increase in the cost of food, utilities, clothing, fuel, and medical and dental costs. She noted that if her new salary was a modest increase of four percent, the cumulative weight of increased costs across the board resulted in an income loss. Now, Barack Obama wants to “reward” companies with tax breaks when they pay their workers a “decent wage.” We don’t know what “decent wage” means, but we do understand Barack Obama’s very first statement: “Wages are stagnant as prices rise.” We also understand that Obama does not have a solution to a problem he identified as a national problem.

To bolster manufacturing, Barack Obama will create an “Advanced Manufacturing Fund.” The first intelligent question is, “What is that?” The next question should be, “Where will the money come from?” The answer to the first question is it is another costly government bureaucracy. Another government program, another layer of inefficiency added to the federal government. The answer to the second question is simple: it will come from the pockets of the American worker. Is this what Americans want? Does anyone honestly trust Obama with a flagging American economy?

To simplify the process of investigating the Obama Economic Plan, we’ve compiled the following chart. It will take just a few minutes to review it, and the reader can investigate further at the Obama website. But the sheer weight of this information demonstrates that Barack Obama’s Economic “break for Americans” is a fraud.

(click chart for larger image)

Note 1: Job training programs are vital to ensuring that young people entering the work place for the first time are qualified to find and maintain good paying and rewarding jobs/careers. We concur that retraining is a necessary step for workers laid off in a dwindling industry, but we also think that an increase in vocational/technical training as an adjunct of public education makes sense for 70% of high school students. Most educators regard such programs as invalid, but the absence of such programs explains why our dropout rates are so high within the public education sector.

None of the foregoing should surprise; these are economic programs an we can expect an avowed communist to support. The question really is, having won the cold war, do the American people now want to put a communist in the White House? We should make no mistake: Barack Obama has been a communist at least since 1991 . . . more illusive deception on his part . . . and none of these programs are the right fit for the United States of America.

Again, vote NO Obama, and vote NO for socialist members of Congress seeking reelection.

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