Fausta’s Blog

The income bar goes down while your taxes go up:

Every limbo boy and girl
All around the limbo world
Gonna do the limbo rock
All around the limbo clock
Jack be limbo, Jack be quick
Jack go unda limbo stick
All around the limbo clock
Hey, let’s do the limbo rock

Limbo lower now
Limbo lower now
How low can you go

Lowering the income bar:

First it was $250,000, and that’s revenue:

Then it was $200,000: Obama’s Economic Advisers Acknowledged That Individuals Would See Higher Taxes At $200,000, Not $250,000,

Obama Advisors Jason Furman and Austan Goolsbee: “Sen. Obama believes that one of the principal problems facing the economy today is the lack of discretionary income for middle-class wage earners. That’s why his plan would not raise any taxes on couples making less than $250,000 a year, nor on any single person with income under $200,000 — not income taxes, capital gains taxes, dividend or payroll taxes.”

Then it was $150,000

McCaskill called Obama middle-class tax cut “massive” and stressed that those making “under $150,000 a year would see no tax increase of any kind” — not payroll tax, not capital gains, “not a single tax,” Hodes said.

Now it’s $120,000:

How Low Can It Go? Richardson Pegs Middle Class as Those Making Under $120,000
For the second time in a week, a prominent Democrat has downgraded Barack Obama’s definition of the middle class.

“What Obama wants to do is he is basically looking at $120,000 and under among those that are in the middle class, and there is a tax cut for those,” Richardson said in the interview, according to a clip posted on YouTube.

Last year Obama himself was saying $97,000 was the magic number:

Obama’s idea, which he described on the op-ed page of Friday’s Quad City Times as being “one possible option” and not a formal plan, would raise more than $1 trillion over 10 years by subjecting income of more than $97,000 to a 12.4 percent tax.

It’s all a song and dance, folks: Take it away, Chubby!

UPDATE
Welcome, Capital Commerce readers!

UPDATE, Sunday 2 November
bRight & Early has new lyrics:

Every working boy and girl
All around the working world
Gonna do the tax you rock
All around the tax you clock
Joe the Plumber asked The One™
“How much ‘fore I gotta run?”
‘O’ said, “Quarter Mil’s a lock,
‘Til I do the tax you rock”

Tax you lower now
Tax you lower now
How low can you go

First it was two-fifty K
That hardly lasted a day
Why don’t we just call it two,
But you know that we’re not through
Gonna drop the cap some more
‘Til it’s resting on the floor
All around the tax you clock
Hey, let’s do the tax you rock

la la la etc

Redistribution is our goal
Acquire power, sell our soul
Now it’s one fifty, so says Joe
A hundred twenty’s not too low
We will tax you til your sick
If we find a rate that sticks
Take what you have worked hard for
And just give it to the “poor”

Let’s move that tax you bar
Make you a tax you star
How low can you go

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This entry was posted on Saturday, November 1st, 2008 at 11:10 am and is filed under Barack Obama, Democrats, Election2008, Fausta's blog, economics, economy, politics. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.