It was reported today that President-Elect Obama is proposing a $300 BILLION tax cut. Now what the media hopes that you and I glom onto is the taxpayer portion of this deal, which you shouldn't get too excited about, if it mirrors his "Making Work Pay" proposal during the campaign, as it only results in $500 per individual or $1000 per family in the form of an offset to Social Security and Medicare payroll taxes. Whoop...Dee...Do.
This is peanuts compared to what Obama is proposing to do for businesses...you know...those evil entities that the far left despise so much. For businesses, Obama wants to allow companies to write off their losses from 2008, as well as losses from previous years as far back as 2004. Companies in this situation would actually get a check from Uncle Sam, thereby passing the burden of bad performance off of the companies and onto the taxpayers.
But that's not even the best part. Think hard about what industry falls into this category of "fiscal abyss" that will get essentially bailed out? ANSWER: THE FAILING MAINSTREAM MEDIA OUTLETS! This is Obama's way of doing the slanted, liberal media a solid in exchange for helping him get elected. And the best part is that since it is part of a tax relief plan, and not part of the economic bailout as recently proposed, there would be no need for paying it back, and no performance standards to maintain. It's just a big fat "Thank You!" from Obamessiah in the form of a nice check signed by you and me.
Forget the bailout diversion...watch the media "bailout" via this tax cut plan.
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