Obama IS Redisributing the Wealth!!!

During the presidential campaign, President Obama was notoriously quoted as saying that he is in favor of spreading the wealth.

I think when you spread the wealth around, it’s good for everybody.

Well, in his 2010 budget, President Obama is doing just that: spreading the wealth.

Here are the numbers:

Tax increases:

The budget will impose the Clinton-era tax rates of 36 percent and 39.6 percent for couples earning more than $250,000 and individuals earning more than $200,000.. This change would generate $338 billion over 10 years.

The budget would also limit tax deductions for itemized deductions for families earning more than $250,000 and individual making more than $200,000. This would generate $179 billion over 10 years.

The plans would change capital gains tax rates to 20 percent, up from 15 percent, also for individuals above $200,000 and families above $250,000. This would generate $118 billion.

Tax cuts

The budget includes a tax credit that would provide a refund on payroll taxes of up to $400 per individual and $800 per family. This costs $536 billion over 10 years. It expands the earned income tax credit, costing $32 billion over 10 years. It expands the child tax credit, costing $70 billion over 10 years.

You do the math. Obama is taking in $635 billion from the rich and giving $638 back out to working families.

This might be a statistical anomaly, a quirk of statistics; but, knowing Obama, you can certainly believe that its intentional, can't you?

Obama/Pelosi Stimulus Bill Gives Your Money to Illegals

As if anyone needs another reason to rally against the Obama/Pelosi "stimulus" package, it seems that a loophole will allow illegal immigrants to get some of the "tax" credits.

According to the AP:

The legislation, which would send tax credits of $500 per worker and $1,000 per couple, expressly disqualifies nonresident aliens, but it would allow people who don't have Social Security numbers to be eligible for the checks.

It seems that this provision would entitle green-card holders working in the U.S. to be eligible for a tax hand-out, but AP correctly continues (link added):

Undocumented immigrants who are not eligible for a Social Security number can file tax returns with an alternative number. A House-passed version of the economic recovery bill and one making its way through the Senate would allow anyone with such a number, called an individual taxpayer identification number, to qualify for the tax credits.

It is not bad enough that the bill would give income tax rebate checks to people who don't pay income tax, but now we find that people who are not legally in this country can get a hand-out, too.