Monday, October 27, 2008

How Much Will Barack Obama Pay for Your Vote?

Free meals and movies have long been illegal devices to get your vote, but Barack Obama has figured out how to persuade you to give him his vote -- his "unique" tax cut program. It is against the law for him to buy your vote, so in a stroke of genius he is going to use "OPM" -- other people's money -- the tax system. He is not even subtle about it, but his campaign has created a "calculator" for you to be able to see exactly how much you will get back from Barack Obama.

If you are in the top 5 percent, you are not going to see savings. In fact, these work horses who saddle the majority of the tax burden are going to be asked to give more. Much more. Herbert Hoover taught us that tax increases during a recession creates a depression. This doesn't appear to be a lesson candidate Obama hasn't learned.

There is nothing subtle about Obama's calculator. You put in a few pieces of basic information and you find out both how much you will get from the Democrats if they win and how much you will get from McCain in his plan. Since approximately half of the population doesn't pay income taxes and McCain has deemed money going back to groups that fit this description as "welfare," you will not find much (if any) return from the Republican. Obama, on the other hand, wants the bulk of the "tax cut" to go to those who don't pay taxes. I know, it isn't easy to understand.

One of the most common concerns we have today is "influence peddling" by organizations trying to control public policy. But influence peddling is a two headed coin, in my opinion. The other side is made up of politicians like Barack Obama who want to spend money in order to buy votes. Barack Obama's "tax cut" seems to be an excellent example of such an approach.

Kevin Price articles frequently appear at ChicagoSunTimes.com, Reuters.com, USAToday.com, and other national media.

Kevin Price is Host of the
Price of Business (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review. Hear the show live and online at PriceofBusiness.com. Visit the archive of past shows here.

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