Obama Wants to Increase Social Security Taxes

June 14, 2008 · Filed Under Economy, Fiscal, John McCain 

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Another day, another proposed tax increase by Barack Obama.

Yesterday, Obama called for jacking up the payroll tax, which would result in tens of thousands of dollars in additional fees for some taxpayers.

The new Obama Social Security tax, the largest tax hike in at least a decade, would apply the 6.2 percent payroll tax to the entire income of workers making $250,000 or more a year.

As it stands now, that rate applies only to the first $102,000 of income.

“Barack Obama likes to think that his tax increases will only hit a few Americans, but in truth, his economic plan will be a disaster for everyone, especially seniors,” McCain spokesman Tucker Bounds said.

“Because of Barack Obama’s tax increases, one out of every three senior households will end up paying higher taxes,” he said.

Obama also reiterated his stance on the option for workers to invest a portion of Social Security, which is either based on ignorance or an intention lie to Americans:

“Privatizing Social Security was a bad idea when George W. Bush proposed it. It’s a bad idea today,” Obama said.

Just as it was when George W. Bush proposed it, John McCain supports allowing workers to invest some of their Social Security payments into private accounts.

No mandate - it’s completely optional, and it always has been under the Bush and McCain plans.

John McCain responded to Obama’s comments, “I will not privatize Social Security. But I would like for younger workers, younger workers only, to have an opportunity to take a few of their tax dollars, a few of theirs, and maybe put it into an account with their name on it. That’s their money.”

Exactly. Give people the choice, and get your hands out of their pockets, Nanny Obama!

Why do the Democrats think it’s rational to continually pillage and punish success, while restricting our rights?

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