Obama’s Tax “Cut” Keeps Taxes Exactly the Same?

18 Oct, 2008 by Gina Cobb

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I just assumed that Obama’s tax plan allowed an actual (if small) $500 to $1000 tax "cut" to most families. 

I also assumed, based on Obama’s expansive plans to spend billions upon billions trying to "spread the wealth around," that any Obama tax cut would be short-lived and that the $500 "cut" is just a teaser to hide the real truth about what an Obama presidency would mean.

But if this is true, Obama’s so-called "tax cut" for most families — much touted in some of his web ads today and at his website "tax calculator" — is not even a small cut.  It is simply a plan to maintain the $1000 per child Bush tax credits when they would automatically expire and drop back to $500 per child in 2010. 

I probably should have known that, but I don’t spend a lot of time poring over Obama’s silly proposals.

In other words, Obama’s tax cut "plan" is just to wait two years and then continue doing exactly what we’re already doing.

Woo-hoo!  Can’t you feel the $500 in your pocket already? 

If you can’t, then you won’t feel it there under Obama’s plan either, because his "plan’ is to just keep on doing the same thing we’re doing right now.

Obama’s tax plan consists of a continuation of a good idea George W. Bush had, without giving Bush the credit.

Obama should be ashamed of himself.  Not for following George Bush without giving him the credit, but for attempting to mislead the American public with his phony tax calculator.

In contrast, Bush’s cuts were real, not pretended. Take a look at this terrific chart that compares tax rates under Bush and Clinton.  And here’s How Taxes Work — Or, ‘How to Pay for Beer’.  Great reading. 

Cross-posted in slightly different form at GINA COBB, where you’ll find a wealth of original commentary, news, comics and links