Technical Correction to Tax Policy

McCain argues that the Obama/Biden tax plan will require the average income to write a check to itself because the tax reduction will have to be financed through the deficit, or monetized, by borrowing it from the upper class of incomes.

The argument is pure deceit.

The average income, under the current regressive tax code, writes a check to upper class incomes to finance what the rich do not pay in taxes but is borrowed in record amounts through a regressive tax policy that McCain not only wants to sustain but increase to ensure our productivity, or the creation of wealth.

First of all, regressive tax policy is proven pro-profit, not pro-growth. The policy is deflationary because it increases the tax libaility of The People, reduces buying power and increases debt. The result is deflationary crisis.

Regressive tax policy does not improve productivity, it decreases it.

Second, the tax reduction for the average income is offset by a progressive increase for upper incomes who can afford to pay down the debt, immediately improving buying power, reversing the deflationary trend and strengthening the dollar.

The Obama/Biden plan is a much-needed technical correction to tax policy and the macro economic.

Obama/Biden is change we need!