If you are among the approximately 40% of Americans who don’t pay federal income tax, perhaps you have heard that Barack Obama has promised a “tax cut” for 95% of all Americans. Perhaps you have also heard or read that the “tax cut” for you who pay no tax will in the form of a check mailed to you. The amount I have heard is $500.00.
He is going to tax businesses and “the rich” to pay for this.
The only thing you have to do is elect Barack Obama president, and the government will send you your $500.00 check after the election.
Sounds sweet, right? Free money, right?
YOU will end up paying the tax by having to spend more on the goods and services sold by those businesses when they raise their prices in order to cover their increased tax burden.
If your employer is one of those businesses, and competition is such that your employer cannot raise his prices for his goods or services, he may well have to lay you off in order to cover his increased tax burden.
Nothing is free.
Please think about that before you sell your vote for $500.00.
Very truly yours,