The Obama Tax Plan

[Pressing-On]

Found a very well written article on that subject. Includes a chart.

The Obama Tax Plan: High Tax Rates Are Not Just for High-Income Taxpayers

http://www.taxfoundation.org/blog/show/23501.html

http://www.taxfoundation.org/podcast/show/23716.html

They will be putting out a tax policy podcast on McCain next week.

[Ferd]

What somebody needs to help me understand is that Obama's tax plan will raise over all tax revenue by about 136 Billion.

But he has spending proposals in excess of 800 billion.


yet he talks about how we need to reign in spending. something aint computing here.

[Pressing-On]

Originally Posted by Ferd

What somebody needs to help me understand is that Obama's tax plan will raise over all tax revenue by about 136 Billion.

But he has spending proposals in excess of 800 billion.


yet he talks about how we need to reign in spending. something aint computing here.

Right.

Another question - He says that earmarks only add up to $18 million. How is that possible when he has asked for more than that in earmarks?

[Ferd]

Originally Posted by Pressing-On

Right.

Another question - He says that earmarks only add up to $18 million. How is that possible when he has asked for more than that in earmarks?

he has asked for just shy of 1 billion dollars in his 4 years in the senate total.

[Pressing-On]

Originally Posted by Ferd

he has asked for just shy of 1 billion dollars in his 4 years in the senate total.

Thanks. I thought he had asked for more. What was the conservatory (?) thing? That was a $3 million dollar deal.

[Ferd]

Originally Posted by Pressing-On

Thanks. I thought he had asked for more. What was the conservatory (?) thing? That was a $3 million dollar deal.

a projector.

[Pressing-On]

Originally Posted by Ferd

a projector.

Oh.

[Pressing-On]

Obama's 95% Illusion

One of Barack Obama's most potent campaign claims is that he'll cut taxes for no less than 95% of "working families." He's even promising to cut taxes enough that the government's tax share of GDP will be no more than 18.2% -- which is lower than it is today.

It's a clever pitch, because it lets him pose as a middle-class tax cutter while disguising that he's also proposing one of the largest tax increases ever on the other 5%. But how does he conjure this miracle, especially since more than a third of all Americans already pay no income taxes at all? There are several sleights of hand, but the most creative is to redefine the meaning of "tax cut."

For the Obama Democrats, a tax cut is no longer letting you keep more of what you earn. In their lexicon, a tax cut includes tens of billions of dollars in government handouts that are disguised by the phrase "tax credit." Mr. Obama is proposing to create or expand no fewer than seven such credits for individuals:

Read More: http://online.wsj.com/article/SB122385651698727257.html

[Jermyn Davidson]

Sen. Obama has said, repeatedly, that the "tax increase" on the 5% would not exceed the levels from the mid 1990's Clinton Administration.

The tax "increase" is not really increase, as the tax rate for those folks was temporarily lowered for them by this Admin.

Do I need to post a source?


http://www.cbsnews.com/blogs/2008/10...y4516350.shtml

[SOUNWORTHY]

Originally Posted by 1399

Sen. Obama has said, repeatedly, that the "tax increase" on the 5% would not exceed the levels from the mid 1990's Clinton Administration.

The tax "increase" is not really increase, as the tax rate for those folks was temporarily lowered for them by this Admin.

Do I need to post a source?


http://www.cbsnews.com/blogs/2008/10...y4516350.shtml

And Clinton said"I didn't have sex with that woman" Didn't your Daddy ever tell you that politicians are like fishermen, they lie? I know you want to believe your man but can't !! before it's too late.