a consequence of Obama’s tax plan, even if unintentional, will allow the following:
Say, Joe the plumber does buy the plumbing business and is successful — $250,000/year successful. Consequently, Joe must be compelled to exhibit his “neighborliness” and “patriotism” by “redistributing” a few thousand dollars more of his income to his next-door neighbors, Sam the slug and Sam’s wife and two children. After all, Sam deserves a chance to get ahead.
See, Sam inherited his parent’s modest house and works just enough to hit the sweet spot of the Earned Income Credit — currently a $4,716 “refund” check for 2007 — and then Sam spends the rest of the year drinking beer and watching Jerry Springer while sitting on his couch in his underwear. Joe the plumber “owes” Sam the slug a few more thousand dollars. Don’t believe me? Just ask Obama.
Borrowed From An American Thinker:
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October 17, 2008
Up To The Minute