It is amazing really, that The Obama Administration has kept one of their very important promises. Barack Obama promised there would be no new tax cuts for the rich, and there really haven’t been any. In fact there have been no significant tax cuts for anyone. Most of the poor folks never paid any taxes anyway, and I’m specifically talking about tax cuts on business income aggregate demand. Right now 50% of Americans don’t pay any income tax. And yet they collect a lot of social services and benefits from the federal government which are actually paid for by those business income
Tax Cuts On Business Income Aggregate Demand
Not long ago, a Republican radio announcer made a claim that 50% of Americans pay no taxes. Of course that’s not entirely true because if you buy fuel you pay tax on your gas, and if you buy anything in the store you pay sales-tax. Of course your tax cuts on business income aggregate demand. is supposed to go for the roads, and used by the Department of Transportation for things that have to do with transportation. And the sales tax is generally charged by the state, and they have deals with their cities who get a percentage of it, and if there’s no city in the area, the county gets some (yes, it’s more complicated than that, but let me finish).
For those people who own a home there are property taxes, but those go to the county, not the federal government. There are some fees, and taxes that the federal government charges on the things that we buy, such as there are tacked on taxes on your cell phone bill, which is collected and given to the Federal Communications Commission and then redirected to government programs, which have to do with communication. So, yes everyone pays taxes of some type, even if there are claims that they don’t.
Read My Teleprompter – “No New Tax Cuts”
Now then, getting back to President Obama and his promises – (Read My Telepromter) No New Tax Cuts, the president has planned in his budget to not allow the tax cuts on business income aggregate demand.. And all of the projections that the administration has made for their federal budget numbers include the permanent expiration of those Bush tax cuts. So in one regard no one can say that President Obama has reneged on every single promise he’s made since he’s been in office, despite the certain Republican Radio Man’s assertions.
Because I can tell you right now it would be a false statement to say that Obama has reneged on his promise that there would be no new tax cuts for the rich. In fact there have only been incentives, subsidies, and tax credits for corporations, wealthy Americans, and everyone else when they buy certain products and services from various corporations who’ve been quite decent to the Obama Administration’s campaign funds. Yes, technically President Obama has kept his word on this one, hasn’t he?