More about Obama's pies

I was listening to a radio show the other day, and they were interviewing an economist and his take on Obama's tax plan. Before the interview, they played some Obama sound bites.

When Obama was still campaigning for the Democrat nomination, his plan started out with tax cuts for everyone making less than $300,000. That didn't last too long before the cuts applied to everyone making less than $250,000. Then, in the last couple of weeks, he's been heard to say the cuts apply to those making less than $200,000. Joe Biden, just this week, said the cuts apply to those making less than $150,000. And just yesterday, Bill Richardson said the cuts apply to those making less than $120,000. Remember, these figures apply to small businesses -- a small business that takes in as little as $384 to $812 a day in gross receipts will feel the brunt of Obama's tax plan.

Now for a little more analysis. This economist said those making more than Obama's threshold (whether it's $120,000 or $300,000) will pay thousands more in taxes -- an average of $3000 to $5000. Those taxpayers making more than $100,000 will get an average tax cut of -- are you ready for this -- $3. Those paying taxes who make less than $100,000 will get around $300 in cuts. Here's the kicker -- those who pay no taxes will get $1000.

My numbers may be a little off on this, because I was driving while I was listening and couldn't write them down; however, they are certainly within the ballpark of what this man was saying. Even if you like the tax the "rich" part, remember, when a small business pays $5000 more in taxes, they'll either raise prices or lay off employees. If you're paying the higher prices everywhere you shop, your $300 tax cut will go pretty quickly. If you're the employee who gets laid off, I guess you'll do OK -- you'll get the $1000 for someone who pays no taxes. But you won't be spending much which will hurt other businesses paying that extra $5000 in taxes. When their sales go down, you know what they'll do? They'll lay off more employees. Sounds like a lose/lose proposition to me.

Vote McCain, and everybody gets a real tax cut.