The Liberal Lie, The Conservative Truth

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HISTORICAL QUOTE OF THE WEEK - "Always bear in mind that your own resolution to succeed is more important than any other." ABRAHAM LINCOLN

Thursday, March 13, 2008

BUSH TAX CUT VOTE - MCCAIN YES, HILLARY AND OBAMA NO

The Senate voted today on extending the Bush tax cuts which have been credited with many economic boosts among those spurring the economy in the wake of 9/11 and the recession Bush inherited from Clinton.

The Senate vote was 52 - 47. But the most telling votes were those made by the 2008 Presidential candidates. John McCain the GOP nominee voted yes for the extension while Hillary and Obama voted no. The two liberal Democrats tried to claim that their no vote was because the tax cuts benefited the upper middle class and the rich. In other words the usual liberal mantra about the evil rich. Obama and Clinton both promise to reverse Bush's tax cuts for wealthier taxpayers, but the Democratic budget they'll be voting for would allow income tax rates to go up on individuals making as little as $31,850 and couples earning $63,700 or more. Not very rich by anyones standards!

So as America decides which candidate really is FOR the American people and allowing Americans to keep their money and not the government. John McCain is the clear winner in this debate!

Ken Taylor

13 Comments:

Anonymous Seth said...

LOL!

Imagine being a Democrat who has enjoyed the benefits of the Bush tax cuts, having more of your hard-earned money to spend where you want to spend it, then having your two potential POTUS candidates tell you that the tax cuts only benefited the evil rich.

I repeat: LOL!

5:03 AM, March 14, 2008  
Blogger Rob said...

Jeez Ken, you are so far off on your understanding of the tax cuts, the deficit, and the Debt that I don't know where to begin with this post.

Without going into too much detail, the Dems want to let the Bush tax cuts expire because they benefit the wealthiest individuals and investor class in the country. Then, they the Dems want to put in tax cuts for middle class Americans.

Obviously, George Bush wants to keep his tax cuts in place because that is how the Bush family and all their friends make their money.

Last year, the CEO of Exxon walked away with a stock allocation of about $300 million. He didn't pay any tax on that because it was not considered income under Bush's tax policy. When he cashes in those stocks, he will only pay a 10% tax maximum. Yet, a gas station attendant making $15/hour has to pay 32% in tax. If you think that is fair, that's cool, but at least get the facts right.

One other thing - Reagan recognized the explosion of debt and the deficit after he cut marginal tax rates in 1981 and worked with Congress to increase taxes in 1982 ($165 billion), 1983 and 1984 (another $50 billion). For some odd reason, Republicans seem to forget about the tax increases from 1982-1984.

You confuse fiscal responsibility with tax cuts. Cutting taxes and exploding spending like Bush has created the single greatest threat to American sovereignty in this nation's history. Our National Debt is now owned by foreigners, out banking and financial industry is completely compromised by foreign investors, our dollar (which was once the mightiest currency in the world) is fast becoming worthless.

We need to tighten our belts, control spending, and pay down some of the astronomical debt that Bush has accumulated in order to preserve America. The Bush bills are coming due and Americans have to pay them.

11:45 AM, March 14, 2008  
Blogger Rob said...

Seth, my wife and I are among the wealthiest Americans in this country - but any "benefit" we have gotten fromt the Bush tax cuts is offset by the devaluation of the dollar that has resulted from his deficits and heavy borrowing from foreigners.

Any short term gain is lost by the long-term debt that we have accumulated and will have to pay back. An economy in recession, rising interest rates and rising inflation are the fruits of George Bush's economic policies.

Let me give you a piece of advice, buy gold and foreign currencies. Invest in foreign stock funds - because I can guarantee you that is where Bush and Cheney are investing. They aren't going to stand by and allow their personal fortunes to get sucked dry by the economic disaster they have created.

11:52 AM, March 14, 2008  
Blogger Gayle said...

Neither are they going to stand by and allow their personal fortunes to get sucked dry by the Democrats!

Good post, Ken. I agree with you completely. I don't understand the way Rob thinks. It seems convaluted to me, but hey, maybe it's just me! :(

5:59 PM, March 14, 2008  
Blogger Rob said...

Bush and Cheney aren't investing in America - they are putting their money and their families' money into foreign investments.

The Bush family has very strong ties to sheiks in the middle east and you can easily find articles that detail the amount of oil money they are making as a result of foreign investments with the explosion in oil prices.

Cheney knows that the dollar is collapsing and inflation and interest rates are rising, so he is buying up foreign stocks, European bonds and tax-exempt short-term munis.

In addition, Bush and Cheney have supported Halliburton's efforts move its headquarters from Houston to Dubai. So the firm that American taxpayers have paid $25 billion in no-bid contracts for Iraq has decided not to be an American company. I don't think it is a coincidence that Cheney still has millions of dollars in stock options with the company.

Gayle, I am not sure what you mean by "sucked dry." The only thing that gets taxed is income - a person's personal assets aren't touched.

Let me give you an example, David Lesar, CEO of Halliburton, got $14 million in stock options (over top of his $8 million salary). On that $14 million, he will pay about 10 percent tax ($1.4 million). Do you really think it is such a hardship for poor Mr. Lesar to pay 30 percent ($2.8 million)? If you are a middle class American, you are paying 28-33 percent tax on your income.

If you think that Mr. Lesar is being "sucked dry" and that he would be cheated by Dems who want to even the tax playing field for all Americans then so be it.

9:31 AM, March 15, 2008  
Blogger American Interests.blog said...

Well Ken, speaking candidly I am hardly an expert of America's Tax system, hell, its challenging enough keeping abreast with Australia’s system. Nonetheless, whilst am I conservative I have a Libertarian streak within. I know this when I read the word “tax”, in particular “tax cuts”; always an advocate of the latter.

2:11 AM, March 16, 2008  
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