I think most remember that campaigning Barack Obama promised to give tax breaks to 95% of Americans and promised that “If you make under $250,000, you will not see your taxes increase by a single dime. Not your income taxes, not your payroll taxes, not your capital gains taxes. Nothing.”
I certainly remember those promises and because of there shear boldness, I think they were among the few campaign promises that now President Obama has to keep, lest he be crucified by the press.(pun intended) So not surprisingly, the tax related items caught my eye in a bevy of “Obama” related articles in the Herald this morning.
President Barack Obama on Friday rejected his transportation secretary’s suggestion that the administration consider taxing motorists based on how many miles they drive instead of how much gasoline they buy. (article)
Very happy to see that taxing motorists based on miles driven is not part of his administrations plan. A stupid, stupid, stupid idea that does nothing to encourage using less gasoline and oh, yes, that would be a tax increase for those of us who make under $250,000 dollars/yr. I am glad to see that the pseudo He is technically sticking to his word.
And as a conservative I’ve got to be happy with this tax break for the working class.
The president said his signature two-year "Making Work Pay" tax break will affect 95 percent of working families, and, in six weeks’ time, a typical family will start taking home at least $65 more every month.
Most workers are to see about a $13 per week increase in their take-home pay. In 2010, the credit would be about $7.70 a week, if it is spread over the entire year. (article)
And I was, that is until I read one small detail; you get the credit even if you don’t make enough to pay taxes. So is President Obama really enacting a “Making NOT-Work Pay” tax break? Looks like it.
So technically speaking these programs fulfill Barack Obama’s campaign promises; 95% of us may get a tax break; and it appears he is trying to stick to his promise of not taxing those of us who make under $250,000.
I should be praising this guy up and down the aisle, but I’ve got this nagging feeling that I can’t seem to quite put a finger on….
OUR CHILDREN will have to pay back trillions of dollars of debt, so WE don’t get taxed right now, and WE get $13 per week right now, and because the Obama Administration won’t quit spending money like no administration has ever done in the past. That’s change and that sucks!Tags: Obama, tax, debt, promise