Monday, June 23, 2008
Obama Turns FDR Upside Down - WSJ.com
O.K. I just have to say it.
It seems that everything Barack Obama says sounds reasonable and logical at first take; however, "upon further review", a lot of it either makes no sense, doesn't work mathematically, or gets changed or modifed shortly thereafter.
I think he missed his real calling. He should be in advertising...
It seems that everything Barack Obama says sounds reasonable and logical at first take; however, "upon further review", a lot of it either makes no sense, doesn't work mathematically, or gets changed or modifed shortly thereafter.
I think he missed his real calling. He should be in advertising...
Lawrence B. Lindsey writes in the Wall Street Journal:
"Sen. Barack Obama has a bad idea for 'extending the life of Social Security.' He has proposed applying the Social Security tax to incomes above $250,000, in addition to the current tax on incomes up to $102,000. It's unfair, he explained, for middle-class earners to pay Social Security tax on 'every dime they make' while the very rich pay on 'only a very small percentage of their income.'
Reporters cited the Obama statement without asking for the logic behind having someone making $100,000 pay on every dime and someone making $250,000 pay on just 41% of income, while someone making $10,000,000 would pay on 98.5% of income. There is no economic principle or theory of tax law that would endorse such a result."
