[Sangetsu]

Originally Posted by MMM

Which points were those? What about the taxes speech did you like?

The truth is that unless you are very wealthy, you will save more in taxes with Obama than McCain.

How McCain and Obama will change your tax bill - Jun. 11, 2008

Yes, rather than tax me, Obama will just tax my employer instead. And then when it comes time for a promotion or a raise, the money may not be there.

Everyone seems to forget that taxing the rich is the same as taxing the poor. Doesn't anyone here have the slightest grasp on economics?

Here's a non-political example. What happens when you raise the price of diesel fuel 25%? Most of us wouldn't care, almost none of us use diesel fuel in our cars. But the trucks, trains, and ships that transport the things we buy do. Eventually the 25% increase is made up for by increased shipping costs, which increases wholesale costs, which increase retail costs. All of us end up paying for that increase.

The exact same principle applies when the "rich" are taxed. The same rich who own the companies, businesses, or stores that we work for. If the rich do not make a profit, who pays? Those whom they can no longer afford to employ.

But, what does that matter? If we lose our jobs, then the government will use the extra tax money to help pay unemployment benefits. But those of you who have ever had to file for unemployment, you've probably found that it pays a fraction of your previous income. Just like Social Security, you'll be lucky to get a 10% return on all the money you were forced to pay into it over your working life.

It is not possible for Obama to tax our economy into prosperity. Not once in American history has an increase in tax resulted in a net increase in revenue. Not once. You may not have heard in the news, but Bush's trillion dollars in tax cuts actually increased revenues, they went up 20% just between 2004 and 2006 alone, despite the war, increasing energy prices, and the fall of the markets after September 11th, 2001. Revenue at the moment is about 18.2% of GDP, which is well above the historical average for the last 60 years, and Obama thinks it's not enough?

There are a lot of things wrong at the moment with the economy, the only thing that is correct is the current tax rate. The quickest ways to help the economy would be to stabilize oil prices, and to begin programs to limit speculation in the markets.

By the way, you are one of the "wealthy" if your household income is $80k a year or above. If you earn below that, you are already paying little to no taxes each year after deductions. Obama's tax increase is going to kick America's middle class in the crotch.