Obama's tax plan is nothing more than a scheme to "rob Peter to pay Paul." The numbers do not add up. Obama keeps stating that 95% of Americans would receive a tax refund, but note he is not say 95% of "those that pay taxes" would be receiving a rebate. But as we have learned, 40% of the 95% do not pay taxes at all. How can that be?
So where is the refund coming from? The refund is coming from the payroll tax, or money that would normal is going into the Social Security coffers:
WSJ: Obama Talks Nonsense on Tax Cuts
Social Security is already in jeopardy, and as the Wall Street Journal article indicates, Obama's plan would only serve to place Social Security in further risk.
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