Barack Obama has presented himself as the oracle of all that is hopeful. A man who can appeal to both Democrats and Republicans alike. A man of great conviction and real straight talk who promises that his 15 minutes as a Senator more than qualifies him to be leader of the free world.

However, once Barack Obama clinches the nomination and the new car smell wears off, the American people are going to begin taking a second, third, and possibly fourth look at the hope-filled legislation Mr. Obama has proposed while on the campaign trail.

He’s kept his legislative proposals purposely vague in the hopes that his being the first African-American with a real shot at the Presidency will overshadow the realities of his proposals.

Leave it to The Wall Street Journal to look under the hood and see exactly what Obama’s social security plan looks like.

What it reveals is a departure from his original (and quite reasonable) position that social security is in trouble and we should do whatever is necessary to fix it, to one of a left-wing Democrat determined to raise taxes.

…But having cornered himself among Democratic activists whose attitudes toward Social Security reform range from demagoguery to denial, Mr. Obama has recently veered sharply left. He now proposes to solve the looming Social Security shortfall exclusively with higher taxes.

“Once people are making over $200,000 to $250,000,” Mr. Obama says, “they can afford to pay a little more in payroll tax.” No shared sacrifice, no outreach to moderates or conservatives, here.

Mr. Obama’s plan will certainly sound sweet to far-left activists who don’t actually believe social security is in trouble in the first place, but will do little to actually solve the problem.

After the dust settles, the Obama plan will only keep social security solvent for an additional three years, meaning that liberals will get the tax hike they fantasize about but the social security problem will remain.

What’s more, Mr. Obama’s plan would keep Social Security in the black for only three additional years. Under his proposal, annual deficits would hit in 2020, instead of 2017. By the 2030s the system would still run an annual deficit exceeding $150 billion.

Mr. Obama’s modest improvements to Social Security’s financing come at a steep cost. The top marginal federal tax rates would effectively increase to 50.3% from 37.9%, equivalent to repealing the Bush income tax cuts almost three times over.

While predictable, it never ceases to be amazing that Democrats really believe the answer to a lagging economy is to increase taxes. How they’re able to arrive at that conclusion is surely as convoluted as the idea itself.

When you look at the vast majority of proposals this election cycle from Barack Obama what you see is a liberal Democrat who cloaks his left-wing agenda in hope-filled speeches and lofty rhetoric.

-Chris Jones
The Hot Joints

chris@thehotjoints.com

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