The Illinois senator might be one of the shrewdest presidential candidates ever, but he does slip. For instance, he promises to end capital gains taxes on investments for small businesses and start-ups.
But on a campaign stop in Toledo, he couldn't assure self-employed 34-year-old plumber Joe Wurzelbacher to his face that he would get a tax cut. Poised to buy a $250,000-a-year firm, the working-class plumber of 15 years confronted Obama.
"Your new tax plan is going to tax me more, isn't it?" he asked.
Obama responded with the promise of a 50% tax credit for health care, but the senator conceded that Wurzelbacher's income taxes would indeed rise.
"It's not that I want to punish your success," Obama told him. "I just want to make sure that everybody who is behind you — that they've got a chance at success too."
Wurzelbacher, who would shoulder all the responsibility and risk of such an investment, did not look impressed. Obama then let the cat out of the bag, saying:
"I think when you spread the wealth around, it's good for everybody."
Originally from the pit at Tradesports(TM) (RIP 2008) ... on trading, risk, economics, politics, policy, sports, culture, entertainment, and whatever else might increase awareness, interest and liquidity of prediction markets
Tuesday, October 14, 2008
More Change Coming
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