Barack Obama told voters yesterday he would push an aggressive economic agenda as president: cutting taxes for the middle class, raising taxes on the wealthy, pouring money into “green energy” and requiring employers to set up retirement saving plans for their workers.

Speaking to about 200 people in Wayne, a Philadelphia suburb, Obama made no new proposals yesterday but emphasized earlier ones in light of rising gas prices, inflation and job losses. They include a $1,000 tax cut for most working families; a new Social Security tax on incomes above $250,000; a “windfall profits” tax on oil companies; a $4,000 annual college tuition credit for those who commit to national or community service programs; and an end to income taxes for elderly people making less than $50,000 a year.

Obama said he could pay for his programs by eliminating the Bush administration’s tax cuts for the wealthy, winding down the Iraq war and spending more on alternative energy programs that eventually will save money.

First, let me simple say just one thing - since I want to really focus on personal income taxes and not corporate taxes. Any confiscatory tax strategy on companies will hurt the economy - especially if oil companies are the ones targeted. Taxes are always passed on to consumers in the form of higher prices. These taxes punish shareholders who invest in oil companies. They will also slow the exploration of oil and the development of new technologies. If Barrack Obama really does care about the “little guy” - screwing over Exxon with confiscatory taxing is not the way to reduce prices at the pump.

Now - back to the issue of income taxes. From  Barrack Obama’s campaign website:

Reverse Bush Tax Cuts for the Wealthy: Obama will protect tax cuts for poor and middle class families, but he will reverse most of the Bush tax cuts for the wealthiest taxpayers.

Sounds good, right? Screw the rich - those idiot rich - with all their gold toliets, and fancy cars, and caviar lifestyle. Take their money away from them… right! Confiscatory taxes - raise them through the roof on the wealthy - the evil, evil, wealthy. Like that commercial for JG Wentworth - Obama dressed as Uncle Sam is screaming, “It’s my money… and I WANT IT NOW!”

Those stupid millionaires, and billionares, like oh - well like Barrack Obama for example - or George Soros - and Bill Gates - or Warren Buffet - those guys will pay lots and lots more… right! They deserve to pay more - since clearly they ripped us all off to get where they are… the fat lot of them.

That’s what democrats THINK when they hear Obama speak. Now - that’s the “smear” in Obama language. Now let’s talk the truth.

The truth is this - the majority of democrats when they talk about the “wealthy” - they’re talking about single income earners who make more than $75,000 a year. Basically, they’re talking about an IT guy who has a bachelors degree and about 7 years of experience post school. They’re talking about a paralegal, who has 10 or more years of experience in a law firm. They’re talking about the accountant - who has a few years under his/her belt at a firm. They’re talking about the sales manager of a medium sized firm - who is responsible for a region of the country and several million in sales. They’re talking about the production manager of that company - who’s responsible to see the products get made and delivered.

… those are the jobs that pay about 75,000 a year. They’re likely the jobs YOU have.

Now, during this speech - Obama threw a curveball - he’s now saying he wants to screw-job those families making $250,000 a year. Sounds like alot of money right - quarter of a million dollars. I mean - these money-grubbing families and their wealty lifestyles… THEY MUST PAY!

Again - that’s the “smear”. Let’s talk about the truth.

These families are the double-income, double-professional degreed families. The mother and father both have advanced degrees - on which most of them are paying student loan payments between $500 and $1000 per month to pay off. They send their kids to public school - in all liklihood - except in places like DC area, where the schools are so bad they have to send their kids to private school for their own safety and education. The mother may be a manager, making $120k a year. The father is a professional too - he probably makes about $130K. Perhaps they’re both lawyers… or doctors. Perhaps they’re home business owners - or small business owners. They’re responsible for payroll - and building businesses.

Oh and let me add this - according to the IRS, Mr. Obama, they’re already responsible for about 40% of the federal taxes collected. By all means - zap it to them again. I mean - how dare they make just enough money they’re not under constant threat of money worries and can send their kids to decent schools and have mid-level careers!

In many cities in this country - $250,000 a year is hard to survive on. You have mortage costs of 5000 a month. You have daycare costs of $2000 or more a month. Gas is through the roof. Food is through the roof. Everything costs more.

These people are not the “rich” - but the entire premise of confiscatory taxation, and “getting even” is just wrongly placed anyways. The “middle” class of the United States drive the innovation, job growth, and wealth creation of the United States.

For people who may be reading this who make less than $75,000 a year, or less than $250,000 a year - I am not unsympathetic to your difficulties. Taxes need to be reduced across the income brackets - wealth creation needs to be easier and taxed considerably less (i.e. read here the end of capital gains), and the AMT tax needs to be deal with and eliminated entirely. In addition, government SPENDING needs to fall precipitiously and we need to restructure future entitlement programs. America needs to start doing this now… today… this second.

Where does Mr. Obama, and democrats generally, get off deciding these policies that now anyone who essentially went to college, and has a career - is now a target for higher taxes? $75,000 dollars is not “rich” by any means. $250,0000 in most of the mid-atlantic cities - is far from living the “high life.” Most of these people are working hard, very hard. They went to school. They found good jobs. They want to build a life for themselves, and their family.

You want to “eat the rich” - start your tax bracket at $1M AGI. You’ll kill the economy - but if you really want to screw the rich - start with people whom you’ll collect at least a quarter of a million dollars in taxes from…

That’s the truth…