Even though there isn’t a soul in America that believes him, Barack Obama has been running around the country claiming to support a tax cut for the overwhelming majority of Americans. With that in mind, I was happy to see this piece by Newt Gingrich and Peter Ferrara in the Weekly Standard on taxes.
Gingrich and Ferrara argue that most of Obama’s “tax cuts” are for people who don’t actually pay taxes thanks to the low tax policies of President Reagan, President Bush, and Gingrich’s Congress.
The merits of Obama’s plan are of course debatable even though the plan is misguided, but what people need to be aware of is that Obama’s plan does not reduce the amount of money taxpayers are forced to send to the government. Under Obama’s plan, those who actually pay taxes will continue to pay through the nose while those who don’t will receive even more money they did not earn. You could call it lipstick on a pig, but I’d rather call it That 70s Show.
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