There’s a good article on the Wall Street Journal website that talks about Obama’s tax plan.
Some families with an income of $40,000 could lose up to 40 cents in vanishing credits for every additional dollar earned from working overtime or taking a new job. As public policy, this is contradictory. The tax credits are sold in the name of “making work pay,” but in practice they can be a disincentive to working harder, especially if you’re a lower-income couple getting raises of $1,000 or $2,000 a year. One mystery — among many — of the McCain campaign is why it has allowed Mr. Obama’s 95% illusion to go unanswered.
The article shows how the Obama campaign has cleverly packaged a socialist economic plan to make it look like a tax cut. His tax plan will cost my family money. And we’re by no means rich. Take five minutes and read this article.
