Prez Proposes $300 Billion MORE in Spending and "Tax Cuts"

Of course, those "tax cuts" are really expansions of the EITC, the "Earned Income Tax Credit", which is the way they shovel money out to people who don't pay income taxes. It's a bit of a strange animal, since payroll taxes are the way the feds steal money for the bogus Social Security "Insurance" program, and you're supposed to be able to "get it back" when you get old and rusty. The trouble is that the EITC gives back MORE than what many recipients of the "credit" put into it, thus making it a redistribution of wealth scheme perpetrated through the tax code and tax "refunds" via the EITC.

Mr. Obama would like to increase the amount of redistribution, while INCREASING taxes on others to pay for it and for the other spending in his $300 Billion plan.

So you'll get more inflationary action, and more taxation on those who are trying to produce marketable items and services.

A real recipe for economic growth, huh...

http://www.reuters.com/article/2011/09/07/us-obama-jobs-idUSTRE781765201...

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