Does Senator Obama Understand Economics and taxing?

He believes in giving yours and my money to the poor as both he and Senator Biden give very little to charity according to their income tax returns. Almost everyone is upset with the way the Government has handled Social Security yet they want the government to handled health care, education, and housing?

For started I check my income taxes from the 1990s and form 2006 and found that while the income was very close the the tax paid was about $4,000 more under the tax rates of the 1990s. He has stated that he will not renew the Bush tax cut so our tax rates will go back to those of President Clinton. President Clinton said he was going to reduce taxes for the middle class and the middle class became those in the lower 25%. The very rich were those making $60,000 or more. He gave college tuition tax credit to the the middle class but the upper income limit was $60,000 (the wealthy). The basic problem with Senator Obama's tax cut proposal is his "spreading the wealth" taking from me and giving a check to some one who does not pay taxes. He is a Socialist and history has proven that that system does not work and leads a country into mediocrity. The tax cuts for everyone leads to prosperity as proven by President Kennedy, President Reagan, and President Bush and tax increase lead to an economic down turn as proven by President Carter, President Herbert Bush, President Clinton. Don't forget that Senator Obama is also talking of raising the limit on Social Security tax which is a double tax on small business (employer and employee). He is also talking of changing the way we levee taxes. In his famous Joe the Plumber comments he stated that he would tax the receipts of small business making $250,000. This means that the little cafe that Senator Biden talks about, that has been closed for 20 years, if they had 25 people for meal, Breakfast, lunch and dinner, and they spent the recommend amount per day (according to several local School District) which is $35.00 per day the cafe would have over $300,000 in receipts each year. The Capital Gains tax on Small business that your referred me to is the sale of the business or Business stock if you are a corporation. Bottom line is that he wants to tax the rich and give it to the poor in the form of a government handout which we have been doing since President Johnson started the War on Poverty. We have given trillions to the poor in government programs and what do we have to show for it?

One of the founders of the Income Tax said that you have to make the tax high enough to pay for government and low enough so that they would pay it. If you raise it too high they will work less or cheat on their taxes.

I think by "unproductive", Bob meant it from a taxation point of view. Not that they don't work but that they are adding to the tax rolls. But when you GIVE people money from the tax rolls, or any money that is not earned, it encourages mediocrity. The inherent vice of capitalism is the unequal sharing of the blessings. The inherent blessing of socialism is the equal sharing of misery. -Winston Churchill "If you want to feed a man for a day, give him a fish. If you want to feed him for life, teach him to fish. If you want to enslave him, give him a fish everyday."

Unproductive people are people who collect money and don't produce a good or service. When you look at who pays taxes (http://www.ntu.org/main/page.php?PageID=6) you will see that since President Bush's tax cuts have been in place the top 50% of the tax payers are paying more and more of the the total tax burden. Who are the top 50%, they are the people earning $32,000 per year. What is important is not what tax rate you pay but how much of the tax burden do you bear. Under President Clinton (1999) the top 5% of the taxpayers paid 36.18% of the taxes while the bottom 50% paid 4% of the taxes collected. In 2006 the top 5% paid 39.89% of the taxes and the bottom 50% paid 2.99%. That means that the top 5% paid 3.71% more of the taxes while the bottom 50% paid 1.01% less. It seems that President Bush's tax cuts cost the rich more than the poor and the poor got more benefit from the tax cuts for the rich. Do you want to go back to the Clinton era tax rates?