Obama talks taxes on the O’Reilly Factor

by Brendan Steinhauser ~ September 9, 2008

Watch this interesting interview of Barack Obama by Fox News’ Bill O’Reilly. They discuss tax rates, raising the cap on social security taxes and federal government revenue. As I point out in the book, Obama would raise income taxes and raise the cap on social security taxes. This is despite the fact that, as O’Reilly reminds him, government revenues have soared after the Bush tax cuts were enacted.

The highlight in the clip has to be the part where O’Reilly refers to Obama’s plans to soak the rich as income redistribution, “a socialist tenet.” Yes, Mr. O’Reilly, Obama is well-versed in far left ideas.

Obama’s economic plan is clear: play the American people against the wealthy, encourage class envy, and steal from the rich to pay the “middle class.” As I point out in the book, most of the folks who file taxes in the top income brackets are small businesses. Raising taxes on these folks at a time of economic uncertainty would be disastrous, but that is exactly what Obama wants to do.