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Does anyone understand Obama's Tax Plan?

I just heard news today that he(BO) will let, President Bush's current tax plan that has been in effect since 2001 lapse. If in fact he makes it into office. So that means we will go back to Clinton's tax plan that was in effect in 2000 and that means it will go up 100%.
I'm confused, Sen. Obama I thought you said you weren't raising taxes? Oh, that's right, you wanted to wait a year, and this SURPRISE us with another 1,200 a year. Sounds smart to me.
Check out this post for more info:


Asked by McCainPalin at 12:29 AM on Oct. 30, 2008 in Politics & Current Events

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Answers (22)
  • THE FACTS: His proposals — the tax cuts, the low-cost loans, the $15 billion a year he promises for alternative energy, and more — cost money, and the country could be facing a record $1 trillion deficit next year. Indeed, Obama recently acknowledged — although not in his commercial — that: "The next president will have to scale back his agenda and some of his proposals."

    Here's the link:

    Answer by armywife43 at 12:38 AM on Oct. 30, 2008

  • Yes. And yes, you don't.

    Answer by Anonymous at 12:31 AM on Oct. 30, 2008

  • He isnt going back to Clintons tax plan. Even though I think our economy was at its best then, he will be using a new one. He will raise taxes on the wealthy, and the big corporations, which means if you make MORE than $250,000 a year, your taxes will be going up. You can check out all of his plans on

    Answer by Mommy_of_two_85 at 12:34 AM on Oct. 30, 2008

  • THE SPIN: "Here's what I'll do. Cut taxes for every working family making less than $200,000 a year. Give businesses a tax credit for every new employee that they hire right here in the U.S. over the next two years and eliminate tax breaks for companies that ship jobs overseas. Help homeowners who are making a good faith effort to pay their mortgages, by freezing foreclosures for 90 days. And just like after 9-11, we'll provide low-cost loans to help small businesses pay their workers and keep their doors open. "

    Answer by armywife43 at 12:38 AM on Oct. 30, 2008

  • who knows what obama's tax plan is, he changes it every week to make ppl happy and just get votes..

    more then likey will raise taxes to increase the welfare...."SHARE THE WEALTH"

    Answer by JuLiAnSmOmMy317 at 12:39 AM on Oct. 30, 2008

  • I was open to raising taxes on business owners who make more than $250k per year UNTIL I heard that that is NOT tax on $250k profit - it is on $250k GROSS income ! That means before you subtract the business' expenses for the year !... The business I work for employed 60 people and brings in well over a million a year, but then it also pays our wages, rents the location, pays for the cars they sell, etc. Despite a million dollars of gross income this business is borrowing money and laying off employees and has had to close down one of its two locations. It is still straining to keep the bank from closing it down. Making it pay higher taxes will lay off more people and might put it out of business. That's the reality hidden behind a flippant "raise taxes on people making more than $250k."

    Answer by waldorfmom at 1:08 AM on Oct. 30, 2008

  • To JuLiAnSmOmMy317 and waldofrmom.....

    american flag ribbonI couldn't have said it better!!


    Answer by LetsRoll at 2:39 AM on Oct. 30, 2008

  • Obama has changed the amount on his plan several times in the past few weeks. He knows what he will do but is trying to keep it to himself. The closer he gets to the election, the more truth he speaks. It was 250k then 200k and now Biden says 150k. Who knows what he will do? By the way! Businesses don't pay taxes! They raise prices to make up for their higher prices or just fire people. So you miss guided people that think you will get more money from Obama's plan are wrong! You'll have to use any extra money you get to pay for the more expensive goods and services. When Obama doesn't have a script in front of him and he is caught off guard he truly says what he is really going to do. He is going to spread the wealth around! A truly socialist idea.

    Answer by Anonymous at 6:05 AM on Oct. 30, 2008

  • On last night's tv special I noticed that it went from 250k to 200k. I wonder what it will be when it's all said and done??!? Doesn't seem to me like it' s much of a plan at all.

    Answer by Anonymous at 6:45 AM on Oct. 30, 2008

  • He did say he was letting Bushs Tax Plan Laps and Biden said it was gonna go back to the way it use to be when Clinton was in office... God help us!

    Answer by aimige at 7:38 AM on Oct. 30, 2008