October 17, 2008
"Economic Robin Hood Plan Has Some Holes in It"
By Chuck Plunkett
The first is that Obama's claim that he is cutting income taxes for 95 percent of Americans is way off base. Somewhere around 44 percent of Americans don't pay income taxes, according to The Tax Foundation. And here's the rub: Obama's plan would add several new refundable credits that could conceivably go to those non-taxpayers. The Tax Policy Center says this raises the specter of giving away as much as $1 trillion in 10 years to people who aren't even facing an income-tax burden. How is that fair?