Conservative Logic

An economic guide to politics, designed for post-Baby Boomers

Obama Panders to Senior Interests

Posted by A Hamilton on March 30, 2008

How about this kick in the teeth to younger Americans? Barack Obama’s platform calls for elimination of income taxes for seniors making less than $50,000. From the Obama web site:

“Obama will eliminate all income taxation of seniors making less than $50,000 per year. This will provide an immediate tax cut averaging $1,400 to 7 million seniors and relieve millions from the burden of filing tax returns.”

Now, I don’t want to sound mean spirited here, but what about the people who just graduated from high school or college that are trying to build a life? What about the young family trying to save money to purchase their first home, or build a nest egg to start a family? They are all still paying normal taxes while struggling to pay the rent; meanwhile Granny might be sitting pretty on hundreds of thousands of dollars in savings, a house that is bought-and-paid-for, and a nice stable income. And of course at least part of that income is paid for courtesy of younger generations via the Social Security transfers. Where’s the justice here? Can’t we just let everyone pay their own fair share?


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