Barack Obama Will Redistribute $1 Trillion Each Year

Can we call him a socialist yet?

Moonbattery
Barack Obama’s policies will redistribute nearly $1 trillion each year.
CNS News reported, via Free Republic:

By 2012, nearly $1 trillion from the top 30 percent of American families will be redistributed among the bottom 70 percent if Obama’s proposals on taxes, health care, and climate change become law, according to the Tax Foundation.

“Even if none of Obama’s policies becomes law, the extent of income redistribution is remarkable,” Scott Hodge, president of the nonpartisan, nonprofit organization, said. “The top-earning 40 percent of families will transfer $826 billion to the bottom 60 percent in 2012.”

Under the Obama plan, 70 percent of American families as a group — those earning less than $109,460 — will receive more in benefits than they pay in taxes, Hodge said.

“The majority of people below the 70 percent mark will get more back than they pay in taxes,” Hodge told CNSNews.com.

Related… Obama is open to taxing soda and sugary drinks.
What a shock.

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Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

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Thanks for sharing!