The Obama Scorecard
On a better note, President Obama actually hasn’t done as bad as most would think when it comes to not breaking promises. Shockingly and honorably less than 3 percent of the promises made have been broken. Not a bad start for his first year. A few broken promises were, *End income tax for seniors making less than $50,000**, which would eliminate all income taxation of seniors making less than $50,000 per year. This would eliminate taxes for 7 million seniors -- saving them an average of $1,400 a year-- and will also mean that 27 million seniors will not need to file an income tax return at all. Another broken promise was to **Create a $3,000 tax credit for companies that add jobs*. During 2009 and 2010, existing businesses would receive a $3,000 refundable tax credit for each additional full-time employee hired.
About 6 percent of President Barack promises have been compromised. Three of the compromised promises that had the most interest to me were his plans to Eliminate capital gains taxes for small businesses and start-ups. Barack Obama understands that small businesses are the engines of our economy, and he will eliminate all capital gains taxes on investments in small and start-up firms. He also wants to E*xpand* the earned income tax credit. Expand the earned income tax credit for workers without children and taxpayers with more than three children. Equalize thresholds for married filers and head of household filers. Last but not least, Create a tax credit of $500 for workers. This compromised promise will enact a Making Work Pay tax credit that would equal 6.2 percent of up to $8,100 of earnings (yielding a maximum credit of approximately $500) - Indexed for inflation.
Obama is probably one of the hardest working men in the world today. As with all the promises made, some are kept, some are compromised, and of course some are broken. Naturally, in order for promises to be kept, broken and or compromised, promises are in the...