My computer won't load your video right now for some reason but I just wanted to say that if you recognize that your country is in trouble and you need the kind of change Obama is offering, then you're on the right track. I just hope that there are enough young people like yourself who are not listening to all the media lies and phoney rhetoric which is being used to destroy Obama. Those opposing Obama have a lot to lose and they will destroy their own country before then give up the things that are valuable to them.
That's from a Canadian POV and I have nothing at stake more than having to suffer the spinoff from America continuing to make the same old wrong decisions.
I'll listen to your music when I can but for now your patriotism and bravery are what's important. You're on the right track so dont let them turn you.
The change Obama really stands for.
Sen. Obama has offered 188 campaign proposals that would add up to at least $300 billion in new annual spending. That has a 5-year cost of more than $1.4 TRILLION.
Of the 188 new spending proposals, the $300 billion price tag only covers 111 proposals.
There are another 77 proposals with unknown cost estimates that will add billions to this number.
This new spending, if enacted, would represent an almost 10% increase over the President’s FY 2009 budget.
Who will pay for the proposed $300 billion increase in spending? Middle-class American taxpayers and small businesses (which are the engine of growth for our economy), that’s who.
Raising taxes on just the “rich” simply won’t cover it.
Under Pay-Go budget rules, new spending or tax cuts are paid for by spending cuts or tax hikes. The CBO budget baseline already incorporates the extra revenue due to higher tax rates, so the end of the Bush tax cuts won’t pay for the proposed spending and still satisfy Pay-Go.
Senator Obama has promised to pay for his record new spending increases with a tax increase on families making $250,000 and over. However, this increase would only yield
$225 billion over 5 years, a far cry short of the $1.4 trillion required under his new spending plan.
So we will need to raise taxes on the middle-class and small businesses, or deficit spend.
According to CBO, President Clinton’s
1993 tax increase raised taxes $240.6 billion over five years. The late Senator Patrick Moynihan (D-NY) called it the “
largest tax increase in the history of public finance in the United States or anywhere else in the world.” But this proposal will increase spending $300 billion in a
single-year.
To finance the first year of this proposed spending ($300 billion), Congress would need to
increase taxes on the top 1% of taxpayers by 57%. Under that scenario, taxpayers with incomes over $365,000 would see a tax hike of at least $40,300 on top of what they currently pay!
That is simply not realistic. So if Congress decides to widen the pool of taxpayers footing the bill,
it would have to raise taxes on the top 5% by 38%; or the top 10% by 32%; or the top 25% by 26%; or the top 50% of taxpayers by 23%. The top 50% of American taxpayers, who already pay 96.9% of all federal income taxes, are those who earn $31,000 (AGI) or more.
But we are not just looking at new spending. He also wants to balance the budget and stop spending the Social Security Surplus. If he follows through with these promises it would mean:
The average taxpayer earning $62,000 would see their income t
ax bill rise $5,300 (61%)
The average taxpayer earning $104,000 would see their income
tax bill rise by $12,300(74%)
The average taxpayer earning $365,000 would see their income
tax bill rise by an astounding
$93,500 (132%)!
Keep in mind all these tax increases would be on top of the
$2,300 tax increase 43 million families will feel when the current tax policy expires,
$2,200 tax increase seniors will experience when the current tax policy expires, and
$4,100 tax increase
small business will have to pay when the current tax policy expires.
Is this the "change" we are looking for?
