First Presidential Debate Fact Check: Obama and McCain’s Economic Claims
Written by DR | Bookmarks: Reddit this, del.icio.us
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The first 2008 Presidential Debate saw both Senators Obama and McCain defend their economic proposals and attack the other’s plan. Facts, figures and statistics were flying back in forth during the exchange so fast it was difficult to keep up. So after the debate I watched the replay and read the transcript to pick out the economic claims made by both Presidential candidates. In this article, we’ll look at their claims to determine whether they are rock solid true (earning a score of 1), true but with a lot of spin (earning a score 2) or flat out, nose-growing false (earning a score of 3).
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MY COMMENT ON THIS STORY
Excellent job on fact checking. Calm and reasoned. Apparently fair.
I have no “dog” in this fight. I’m a little L libertarian. Don’t care much for either candidate.
I would like to comment on “Corporate Income Tax”.
It’s a sham designed to deceive the folks as to what is the overall level of taxation that Americans pay.
CORPORATIONS DON’T PAY TAXES OR FEES. YOU DO!
As a “frugal” site, I read often, I think you’d hammer this home.
Corporations are very much like a zero sum game. If they have a cost, they pass it along to the person who buys their product or services. If it’s a widget with a pound of steel in it, your paying for that pound. Price of steel goes up, the corporation marks up the price of their product. Simple enough. If they didn’t they’d go broke.
When the gooferment imposes taxes on Corporations, that’s just another cost that the business pass along to you. EXCEPT now you can’t see it. You don’t know what portion of the cost of a loaf of bread is taxes and what portion is bread.
It gets worse, regulations and laws add costs. They come to you hidden in the cost of the products.
It gets even worse, when the gooferment taxes a product that corporations use to make or deliver other products (e.g., gasoline), that tax is a tax on taxes. And is passed along and even buried further. It has an exponential effect!
I’ve seen estimates that the real tax percentage in products is HUGE! 50 to 75%!! I don’t think anyone can tell. AND that’s excatly the politicians purpose.
Bottom line: Corporate taxes imho should be ZERO!
Let’s put the cost of gooferment squarely out in the open! These bozos are no fools. There’s a reason that Tax Day is a half a year away from election day. That reason is that they couldn’t get it any further away.
So, when either candidate talks about corporate taxes, regulation, and fees, I think they are, possibly unknowingly (But I don’t beleive that) DEFRAUDING us from know the true cost of how badly we are being ROBBED!
wake up sheeple,
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