The First 100 Days: 100 of Obama’s Lies, Blunders, Gaffes, and Abuses of Liberty

Posted on April 30th, 2009 by bile
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  1. Promising to “publish all non-emergency legislation to the website for five days… before the President signs it,” then breaking that promise over and over again.
  2. Despite promising to keep lobbyists out of his administration, Obama has broken his word again and again (making 17 exceptions to this promise in his first two weeks).
  3. Obama promised to eliminate income taxation for seniors making less than $50,000 a year. He has broken this promise despite numerous opportunities to keep it, including the economic stimulus package and his administration’s first budget proposal.
  4. The President also boasted during his campaign that “During 2009 and 2010, existing businesses will receive a $3,000 refundable tax credit for each additional full-time employee hired,” and has failed to keep his word.
  5. Obama made it part of his agenda to “allow withdrawals of 15% up to $10,000 from retirement accounts without penalty (although subject to the normal taxes). This would apply to withdrawals in 2008 (including retroactively) and 2009,” but didn’t include this measure in the stimulus package or his budget proposal.
  6. Obama broke his promise to recognize the Armenian Genocide.
  7. Obama did a shameless 180 degree turn on earmarks by sharply criticizing them (and bragging that he would pass legislation without a single one) and then signing a spending bill with literally thousands of them.

I’m completely OK with 7. Better the so call representitives waste the money than the executive branch. The collection, allocation and spending of the money in the first place is the actual problem.

This list isn’t bad. It stretches to get 100 things but much of it is reasonable.

Chris Edwards of Cato on Obama’s tax proposals

Posted on June 16th, 2008 by bile
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Candidate Obama has introduced an array of tax proposals, which he discusses in various places on his campaign website. There are four overlapping themes in the Obama tax proposals the way I see it:

  1. Social engineering.
  2. Discrimination.
  3. Economic micromanagement.
  4. Empty populism.

Under social engineering, I would put Obama’s plan to greatly increase the dependent care tax credit. That would further encourage parents to find institutional day care for their children, rather than providing care themselves.

Under discrimination, I would put Obama’s proposed special tax break for the elderly. The federal fiscal system is already heavily tilted in favor of the elderly, thus it is unclear why Obama would want to further discriminate against the young.

Obama’s “American Opportunity Tax Credit” also creates unfair discrimination. This new tax break for college essentially increases subsidizes for future lawyers, accountants, and other professionals. Why subsidize these folks who will likely have much higher earnings than factory workers, retail clerks, and others who don’t go to college?

Under economic micromanagement, I would put Obama’s Patriot Employer Act, which provides tax breaks to certain businesses that jump through hoops related to hiring, wages, and other items.  Obama wants to cut capital gains taxes on certain investments and increase capital gains taxes on others, and he is proposing various narrow energy tax breaks.

Under empty populism, I would put Obama’s railings against “tax haven abuse” and “corporate loopholes.” If Mr. Obama really wanted to reduce corporate tax avoidance–rather than just using it as a campaign prop–he would join with John McCain and call for an across-the-board corporate rate cut.

A final category might be “innocuous tax cuts that do nothing for economic growth.” Here I would put Obama’s $500 payroll tax credit called “making work pay.” If Obama had wanted to spur employment, he should have proposed a cut in the payroll tax rate, which would change the marginal incentive to work, unlike the proposed credit.

In sum, Obama’s tax proposals are pretty awful. It is true that many Republicans and Democrats have proposed similarly bad tax ideas over the years. But Obama can be contrasted with candidate McCain, who thus far has avoided narrow favoritism in his tax proposals, and favors broad-based tax reductions designed to spur economic growth.

This is “change?” Looks like more of the same failed policies and economic ignorance.