Reality Check: Robin Hood Economics?

CBS Evening News: What's Right And What's Incorrect About The Critique Of Obama's Tax Plan

(CBS)  McCain calls it one of the biggest differences between him and Barack Obama - the claim that most of Obama's tax cuts are actually government giveaways.

He said: "Senator Obama's plan to raise taxes on some in order to give checks to others isn't a tax cut; it's just another government giveaway."

On this claim, McCain has a point, CBS News correspondent Wyatt Andrews reports.

Obama has proposed four new refundable tax credits, which are different from tax cuts or deductions. The refundable designation means that millions of taxpayers who don't normally owe income taxes would get refund checks from the government.

But here's where the McCain campaign stretches the facts.

"Now is not the time to experiment as socialism," Alaska Gov. Sarah Palin said at an October rally.

To Palin, Obama's plans reeks of socialism - a McCain Web ad calls it welfare.

The welfare claim is false.

To get Obama's new refund checks, most taxpayers would have to have a job, a home mortgage, or save $1,000 a year. It is not the old concept of "money for nothing."

"Welfare has these connotations of someone who is poor who is just sitting at home, who's not working," said Bill Adair of Politifact.com. "And the Obama plan actually rewards people who are working."

It's also ironic for McCain to attack Obama for proposing refundable tax credits. It's exactly how McCain funds his health care plan.

McCain would pay for his tax credit by taxing the richest Americas with the most expensive health insurance plans. In other words - both candidates are funding some of their biggest promises with Robin Hood economics.

[kamehagreat]

I don''t Get it Gippybear ?

[kamehagreat]

It looks like I will be joining the New Crowd of Working Poor , with my 401K gone South. (for the next few years )

[liberalpatri]

Robin Hood economics goes way back in this country, as in this quote from one of our nation''s founders: "...it should be remembered that it is impossible to devise any specific tax that will operate equally on the whole community. It must be the province of the legislature to hold the scales with a judicious hand and balance one by another. The rich must be made to pay for their luxuries, which is the only proper way of taxing their superior wealth."--ALEXANDER HAMILTON, "The Continentalist, No. VI", in The Works of Alexander Hamilton, etc., etc., in 7 volumes edited by J. C. Hamilton, found in Vol. 2, pp. 194-201, 16th paragraph.

[gippybear]

The Oboma plan rewards people who ARE working?

Reward them with what? MY MONEY!

THAT''S SOCIALISM!

QUIT THINKING I''M AN IDIOT!

Oboma said he wants to "spread the wealth around". That''s all I need to know.

Now it''s time to parse his stupidity.

If you like this type of *****, move to Venezuala!

[wspe621]

94% to 95% working until 2006 congress got in

[wspe621]

894 to 95% of nation was working until we got a democratic Congress in 2006

[chrisdjax]

I think journalists and all Americans should read this column written by a life long Democrat.

http://www.ldsmag.com/ideas/081017light.html

[blindhowlin]

Let''s see, Bush''s tax cuts did not create jobs, in fact, jobs were lost. Trickle down economics does not work. John McCain is out of touch and out of ideas.

[wspe621]

A job is better than a handout - Obama taxing the rich wll cause a decline in jobs

[blindhowlin]

Sarah Palin took money from oil companies and spread it around to the citizens of Alaska, sending out thousand dollar checks to every person in the state. Sarah Palin is a SOCIALIST! Sarah Palin played ROBIN HOOD! Where''s my check Sarah?!? How about spreading some of that wealth my way???

[wspe621]

Also I guarantee you he won''t be sharing his wealth

[wspe621]

Spread the wealth to people who did not work for it

[pensacola98]

John McCain wants to spread the poverty!!!

Barack Obama wants to spread the wealth!!!

[wspe621]

such kind words - sad

[miles1967-2009]

Palin is a complete and utter idiot; a thief; and a hypocritical religious kook. The fact that McCain would put her one heartbeat away from the presidency speaks volumes about his judgment. To read about the REAL McCain and Palin, see the links below and pass them on to everyone you know:

http://www.rollingstone.com/politics/story/23318320/mad_dog_palin

http://www.rollingstone.com/news/coverstory/make_believe_maverick_the_real_john_mccain

[forthinvader]

"Safavi said the inflation rate in Iran is similar to that before the 1979 Islamic Revolution, but that unrest among civilians today is not as strong. This is because the current government uses oil revenues to help the poor, he said."
Looks like Obama, Pelosi and Reid are in line with Iran''''s policies of capturing oil dollars for the "poor".

[antoniof123]

Had Republicans spent as much time talking about the issues as they do on mud slinging they would have something.

Well, maybe not because if they starting talking issues people see through the lies.

[wspe621]

Socialism and Marxism is on the weay. Sad. Come get your handouts and watch how we sink. Still cannot figure what the media gets out of this.

[listenupfo0l]

McCain needs to answer on the story below! Why in the world would he select someone so dangerous to run with him!

Breaking News: The Terrorist Group AKA Alaska Independent party Calling on Russia to help secede from the Union

Extremists Mark Chryson and Steve Stoll former leaders of the Alaska Terrorist group AKA Independence Party and friends of Sarah Palin are calling on Russia to help them gain independence from the United States.

Watch video of Sarah palin addressing The Alaska Terrorist Group also known as The Independence party. They are calling for a civil war against the mainland.

www.chilitoz.com

[listenupfo0l]

McCain needs to answer on the story below! Why in the world would he select someone so dangerous to run with him!

Breaking News: The Terrorist Group AKA Alaska Independent party Calling on Russia to help secede from the Union

Extremists Mark Chryson and Steve Stoll former leaders of the Alaska Terrorist group AKA Independence Party and friends of Sarah Palin are calling on Russia to help them gain independence from the United States.

Watch video of Sarah palin addressing The Alaska Terrorist Group also known as The Independence party. They are calling for a civil war against the mainland.

www.chilitoz.com