Monday, July 28, 2008

Obama's big plans/few details

I cannot believe it took the media this long to pick up on.

Barack Obama is full of vague promises with few details.

The media are so excited to report on Obama's plans, but they have no details for the plans. They bust on folks like Clinton and McCain to drive down their numbers and drive up Obama's.

It suddenly dawned on someone at the AP that Obama really has no plan, he is just full of hot air:

WASHINGTON - Barack Obama's bid to place a new Social Security tax on very high incomes is either a bold or foolhardy plan, depending on who critiques it.

But its potential impact is almost impossible to gauge because he is providing few details on basic questions such as what the tax rate might be, what types of income would be taxed and how the taxpayers' benefits would be affected.

The Democratic presidential candidate says he would work with lawmakers from both parties to resolve such matters. Voters generally applaud bipartisan cooperation, but they apparently will go to the polls this fall with only a vague notion of what Obama has in mind.

Obama made headlines June 13 when he called for a Social Security payroll tax on incomes above $250,000 a year. Currently, the tax is levied only on the first $102,000 of each worker's income. That covers the entire salary of most Americans.

By the way- if you collect SS on every dime made by folks making over $250K a year, that means the system will have to pay out based on these incomes too.

If you only pay into the system at $102K a year, then you will only be paid out based on this number, no matter how much a person made a year.

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