He's Still All About Your Benjamins

07Oct09
The Obama administration has chosen to launch yet another wealth redistribution initiative, this time in the guise of urban renewal. The administration will be utilizing multiple agencies to sink more than 20 billion dollars of stimulus money into urban areas, the largest such program since Lyndon B Johnson's Great Society of the 1960s.

In charge of the initiative is Obama's Urban Czar, former Bronx borough president Adolfo Carrion Jr., head of the White House's new Office of Urban Affairs.

Much of the funds will be channeled into inner city public transportation subsidies, and improvement of public housing through the addition of housing, sidewalks, parks and other amenities. This is a continuation of a HUD program to influence negative social behaviors (class distinction), by transforming public housing into mixed income developments with a range of housing and job types.

These fund are being invested in areas occupied by the bottom 40 percent of earners, who don't pay anything into the system through taxes. According to the Urban-Brookings Tax Policy Center, they'll actually have a negative rate of taxation, due to President Obama's "Making Work Pay" program and the earned income credit. That means they'll get back more than they paid in, receiving a cash subsidy of as much as 10% from those of us who do pay taxes.

Our government has borrowed money that it did not have, which will have to be paid back with interest by those who pay taxes. It is giving this money to those who do not pay taxes in the form of a cash subsidy and programs to increase their standard of living. Money is being taken from one group of people and given to another. This is the essence of wealth redistribution. Add in Obamacare, Cap and Tax, and the transfer of wealth is mounting.

Do America a favor, redistribute your own wealth. Lower your tax liability by maximizing your deductible charitable contributions, it will keep you money out of the tax man's hands, and ensure it's spent where it will do the most good.