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Obama and McCain Tax Proposals - washingtonpost.com
washingtonpost.com -
Obama and McCain Tax Proposals
According to a new analysis by the Tax Policy Center, a joint project of the Urban Institute and the Brookings Institution, Democrat Barack Obama and Republican John McCain are both proposing tax plans that would result in cuts for most American families. Obama's plan gives the biggest cuts to those who make the least, while McCain would give the largest cuts to the very wealthy. For the approximately 147,000 families that make up the top 0.1 percent of the income scale, the difference between the two plans is stark. While McCain offers a $269,364 tax cut, Obama would raise their taxes, on average, by $701,885 - a difference of nearly $1 million.
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McCain is delusional.
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It's nice that McCain's own family would save $400,000 a year, isn't it? It must be nice to be in the top 0.1% of the country.
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Thanks for this!
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THanks Friday! Great Post!
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Thanks for the post!!
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I wonder where the haters are pointing out that this is somehow wrong and McCain will be better on taxes.
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Why is it believed it is okay to have higher taxes for those who make more money? McCain isn't raising taxes for anybody. Obama is robbing the rich to feed the poor. His plan calls for more taxes, it's just the rich people who have to pay for it. I guess that's okay? This also doesn't include Obama's voting record regarding taxes. Per factcheck.org, 23 times Obama could have voted to lower taxes or give tax cuts and he did not do so. 7 times he voted to lower taxes for some and raise taxes for a others. He voted 11 times to raise taxes on people who have an income exceeding one million dollars, and several times he voted on budget increases that require tax increaes. Not once have heard or can I find where he opted for the government to spend less and give the American tax payers money back. I don't agree that Obama's robinhood approach is good for this country.
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ya, making the rich pay more taxes is okay, they can afford it !! The Americans that make the least, deserve to get more tax breaks.. they work the hardest for the less money !! it's easy for people to complain while they are sitting on their asses.. the backbone of this country is the hardworking laborers of this country and they deserve all the tax breaks they can get!! i don't expect some one like McCain to understand that !!!!
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I agree there are hard working people out there that don't make much money. Just because people have money, doesn't mean they sit on their "asses" and do nothing. Try thinking of it this way, the people that have lots of money are the ones that own businesses. They are the ones that provide jobs to the backbone of this country. They pay a lot in taxes already. There's the old saying, "Shit rolls down hill." You don't think that if you make the company owners pay an additional 11% in taxes that the laborer who works for them isn't going to feel that hit? How about the upper management who wouldn't be in the highest bracket but would be where his taxes go up 8%? He's going to have pressure from the 11%ers to knock out spending or his job is in jeopardy. He's not doing as well as he was due to the hike, but he certainly can't afford to lose his job. Who is going to feel that effect? The employees that work for him. None of them are going to get the raises they would have gotten had their not been this increase. Their evaluations are going to be lower to support even less of a pay increase. This is all okay, though, because they got a decrease anywhere from 1.9 to 5.5% Yes, the above scenario is highly speculative, but a hike like what Obama is talking about to people who (while hated because they make the most money) provide many of the opportunities for the rest of Americans. The poor in this country are taken care of pretty well by the government. Many don't pay any taxes at all (I know they pay sale tax), they get earned income credit, they get daycare vouchers, and wic and free lunces or reduces lunches for their kids at school, Medicaid and so on. There are many who use these aids to get on their feet and do well, but their are plenty of abusers of the system, too. Many do deserve breakes, but just because you have managed to be in a position to have wealth, doesn't mean you should have t support the rest of the nation like Obama thinks.
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