Obama's Class Warfare Battle Opens On New Front

Barack Obama has already started a class war by his socialist action of taking directly from the so-called “rich” to hand it to all others. If person did this on their own they would be defending themselves in court on thief charges.

Now Obama is introducing a new social warfare battle. This time he has attempted to carry it out in silence in hopes the people do not figure it out.

Over on the Obama site they have this new “Obama-Biden Tax Calculator” to provide users a chance to see what they will be getting from his socialist transfer of money.

On the evening of October 14th I tested Mr. Obama’s system out. Being formally from engineering background I tried several various incomes and being single over married, filing a joint return.

Let us start out with a person making $30,000 a year. If you are single, you get $500 just like his commercial says. If you are married, filing a joint return you get $1,000. This follows right along with his plan.

Now if you making $30,000 and are buying a house the game changes. A single taxpayer will get a check for $957 and the married couple will be given $1,457. That is based mortgage balance of $76,000.

So it appears if you DO NOT rent/lease an apartment or house then you don’t deserve the same refund. It appears those who rent or lease are doing much well off then those who are buying their home.

It gets crazier –

Let us jump up to the people making $50,000 to $75,000. If you are single non-homeowner you get $500. The married couple non-homeowner will be given a $1,000 check. But if you are single and have a $125,000 mortgage you get $1300. A married couple with the same $125,000 mortgage you get a check for $1,800.

It appears as you make more in this bracket and are deeper in debt, of your own choosing, you get $800 more.

If you use a mortgage balance of $125,000 and apply it to the above single/married to the above the single person gets $1,282 and the married couples get $1782. So there is a reward of $18 to be $25,000 deeper in mortgage debt.

And Even More Craziness –

Let us jump up to the $150,000 - $200,000 gross income bracket. If you are single, living in a rented home you will get back a grand total of $34. Being married, living in a rental or leased housing you will get back $504.

Now if you are single, buying a home with a mortgage balance of $200,000 you will get a check for $834. A married couple would get $1300.

Again Obama is showing the more debt you owe the GOVERNMENT owes you more money.

Obama has started new class warfare by pitting those who are buying homes against those who rent or lease. He is also rewarding people with the higher debt with money over those who owe less.

This is a reminder to everyone. Obama’s plan is not a tax cut that applies equal to all. Obama is not offering to redo the tax charts but only providing a “one time giveaway!”

Remember in 2010 Obama, and apparently a Democratic Party Congress, can quickly change this program and move people who this year are getting a check into those paying more taxes. If Obama wanted this to be a long term program he would have offered to have the tax tables changed like he proposes for the "rich!"

If you wish to check out Obama’s site here is the link:

http://taxcut.barackobama.com