Voices: Tax cuts

[usregimechange]

Even though Barack Obama proposes to cut the taxes of the vast majority of Americans, a recent Gallup poll (August 26, 2008) indicates that a majority of Americans believe he will raise their taxes. How did that happen? Truth doesn’t seem to be a family value for the John McCain campaign.

The following Web site allows you to look up a calculation of what your tax cut would be under the candidates tax plans: http://alchemytoday.com/obamataxcut/. These calculations are based on numbers from the highly respected Tax Policy Center of the Urban Institute and the Brookings Institution.

Here are some examples. A married, two-earner family with two children making $50,000 a year would receive a tax cut of $970.76 from Obama, $210.42 more than under the McCain plan. A single, elderly adult with no dependents making $15,000 would receive $896.21 in cuts under Obama’s plan, which is $877.52 more in tax cuts than under McCain’s plan. An elderly couple with no dependents making $25,000 a year would receive $128.13 in tax cuts under Obama’s plan and nothing under McCain’s plan.

Only the very rich would pay more under Obama’s plan.

Though some conservatives (especially the rich ones) predict “economic devastation” from this, the rich actually did quite well in those tax brackets under Clinton and so did the national economy.

http://www.joplinglobe.com/editorial/local_story_279203512.html

[spag68]

1. Taxes

I know I will be considered crazy, but I think taxes should be raised. Particularly fuel taxes, to support renewables. In this troubled time, it is hard to do, but getting the debt off our back would allow many worthy thing to be funded. By the way the pentagon should be slashed by a bunch, as we can't afford any more billion dollar airplanes, and we still spend more then the rest of the world combined.