Barrack Obama – Hope and Change – a Broken Promise
by Obama Presidency has been filled with rhetoric and empty promises.
What a ride it’s been the last four years of Obama Presidency. When looking over these last four years I must say that I’m not the least impressed. His Presidency has been filled with rhetoric and empty promises. He promised to allow public comment before signing bills, eliminate capital gains taxes for small businesses, provide tax credits to businesses for hiring new employees, allow Americans to withdraw funds from 401(k) and retirement accounts without penalties, ban lobbyists from serving in his administration, reform earmarks, bring all combat troops home from Iraq in 16 months, sign the “Freedom of Choice Act,” give Americans $4,000 in credits for college and run a “transparent” administration.
Obama promised the American people this, and I quote “When there is a bill that ends up on my desk as the president, you the public will have five days to look online and find out what’s in it before I sign it,”
Interesting promise when you concider Obama signed his first bill, the Lilly Ledbetter Fair Pay Restoration Act, on Jan. 20. That was only two days after its passage.
He also signed a second bill expanding the State Children’s Health Insurance Program just three hours after Congress passed it.
Again, on Feb. 17, Obama signed his 1,000-page $787 billion stimulus aimed at jolting the declining U.S. economy. He did so only one business day after it passed through Congress and without allowing for five days of public comment.
What about his promise to eliminate Capitol Gaines? People who invest in small businesses have only been allowed to exclude some 40 – 50 percent of that gain from capital gains taxes. Meanwhile Obama’s $787 billion economic-stimulus package reduces that tax liability which is raising the exclusion to 75 percent but does not eliminate it.
Then there is the American jobs tax credit. Obama promised to provide a $3,000 refundable tax credit to existing businesses for every additional full-time U.S. employee hired in 2009 and 2010. This promise was never, let me say it again, NEVER included in his stimulous package.
In October 2008, Obama brought his “Rescue Plan for the Middle-Class” which he promised to allow financially distressed Americans to withdraw up to $10,000 from their 401(k) retirment and retirement savings without having to pay penalties. They would only pay income taxes on the amount. Again, this was NEVER added to his stimulous package.
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