Obama has been continuously stating that under his tax plan, any family that earns $250K/year or below wouldn't have a tax hike. But, last night in his infomercial, Obama stated that if you make under $200K/year you wouldn't have a tax hike. So, which is it? Obama wouldn't (gasp) LIE about his tax plan, would he?? Like Clinton before him, I believe that Obama is using smoke and mirrors to get elected, promising a middle class tax cut when all along he plans to raise taxes. Obama Is Changing His Tune....errr....LYING
It's all a fantasy, just pick a number. Libs need tax money to pay off those who vote for them. Doesn't matter who you are, you are by God going to pay more.
Actually it is 200K - tax cut. 250 K - no tax increase. It was always that way. Ofcourse, McCain also knows that. As to Biden, he was talking about a specific example when he mentions the figure 150K. Not that only below 150K you will get a tax cut. Again, knowingly taken out of context.
Always has to be complicated, can't just come out and keep it at one number, for individuals this for families that....just keep confusing the lowest common denominator, which includes me.
It's so funny to watch this debate. Obama proposes nearly a trillion dollars in new spending, but can't offer anything significant to cut. Cuts taxes to all but 5% and gives welfare checks...errr...tax credits to 40%. Doesn't grow the deficit and eventually reduces it. Do the math. It's impossible. IMPOSSIBLE. The middle class is going to get taxed higher than ever under Obama. Either that or the deficit explodes even more. Just wait. Talk about sheeple. BTW, I'm glad this forum is archived so I'll be able to come back and show all you Obama sheeple when you start complaining about your taxes going up in a year or two. That is, assuming the polls are right.
It doesn't matter, it's unpatriotic, to not share. What are you a capitalist pig? We must give to those who, do not have. It's the American way
My understanding is: Families making under $200K get a tax cut. Families making between $200K and $250K have no change. Families making over $250K have a tax increase. For individuals, those earning $200K or less either have a tax cut or no change (not sure where the line is). Individuals earning over $200K have a tax increase. Obama alternates between saying that he's giving a tax cut to working families earning under $200K and saying that he's only going to raise taxes on those families earning over $250K. Both statements are accurate, because there is a group in the middle whose taxes won't change.
i am no tax expert, nor do I understand global economics. but, it is true that more people did better under the tax rates of WJC than GWB. From my reading, BHO is proposing a return to the former. we will have at least 4 years to see how it goes. btw, whatever happened to McCain's Gas Tax holiday plan? I assume it was enacted because the price of gas is lower...
$250k+/yr = tax hike $200k/yr to $249k/yr = taxes stay the same <$200k/yr = tax cut It's been that since the beginning of the campaign 2 years ago and it's the same today. The only change is the level of desperation McCain supporters feel.
Damn...250K per family, 150K per individual....I wish I was making this kind of money so that I could fear the Great Socialist..... It's a progressive income tax. How in the hell do we pay for what the federal government spends? How do we fund body armor for soldiers in Iraq, FBI agents to safeguard the homeland, medical care and prescriptions for the elderly who are on fixed incomes and past their working years, funding for the schools so no child is let behind, and, oh yeah, pay for the indebtedness that record deficit spending has brought us? I know, let's just cut federal taxes and let the states and cities raise the money through property taxes, sales taxes, franchise taxes, or (gasp) income taxes....oh wait.....
I remember Obama's frequently-spoken $250,000 figure. Actually, it's probably gonna be $25,000 ... an minor typo/error on the decimal point. That said, I'm still voting for Obama. There's always a chance to change Congress in 2 years and the White House in another 4 years. In the meantime, if it gives hope to minority kids (and women, etc.) that the highest office in the land is available to anyone who aspires to it, then that's not a bad side benefit. The Republicans' theme songs (war in Iraq, "war on terror", huge deficits, unlimited detention in Guantanamo, Osama bin Laden never killed or captured, nastiest ad hominem campaign attacks, etc.) have become like Halloween music to my ears. The Pubs need to have a seat on the bench for a few years and, like the Big 3 auto makers, figure out how to reinvent themselves lest they become also-rans. I'm voting Obama and if he does well, then that's great. If he doesn't, then I can "change" my mind and "hope" for someone better in 2012. I was thinking yesterday that I would be more inclined to vote for McCain if he was running as an independent with Joe Lieberman as his VP running mate. But with McCain (or anyone else) running, backed by the Republican political doomsday attack machinery, forget it.
There was a candidate who railed against the regressive nature of certain taxes, such as the FICA. Sadly, he was dismissed as a kook.
