Tax Facts

Mike NC,

I dont think Clinton increased income taxes during his term.

Then the US economy was not in a slowdown as it is now.

If Obama wants to raise taxes (on anyone) in this economy, it is a bad idea.

Karl Marx,

Look, you are right- that would be socialism at its finest. However, tax cuts for the middle-class and letting tax cuts for the upper-income and corporations expire is hardly "wealth redistibution". In a socialist country, it would mean not just higher taxes for the upper income but NO MORE PRIVATE PROPERTY. The upper-income would have all their money and holdings seized by the state, and the land and money redistributed equally among everyone-not just pay higher taxes. Corporations would be nationalized. THAT is a socialist country. That is hardly what Obama wants to do- and McCain is incorrectly throwing around these words to link Obama to Communism.

Of course since Obama is a Democrat, his policies are closer to socialism then capitalism, but I think it is important that we support the middle class to help them climb out of the hole they have been dug in first.

@Grey Matter - Perhaps you need to understand Socialism better.

Socialists believe that wealth should not be concentrated in the possession of a few members of a society (”few” being a relative term), and they believe that only the government should be able to determine how much is “enough” and how much is “too much.” The Socialists view it as the duty of the wealthy to support the non-wealthy.

"Spreading the wealth around" as Obama put it aptly.

All of the people (Ayers, Rev. Wright, et al) that surrounded Obama are Marxist communists believing in a Socialist agenda.

Dear Jake Tapper - Go to the IRS web site and fill out a 1040 form for a family of 4 making $37,000 or less.

At the present tax rate a family of 4 taking all the typical deductions currently pays $0 (zero) federal income taxes.
So what kind of tax break is Obama giving the family making $37,000 or less if they already pay ZERO income taxes???

Smoke and mirrors and Jake is in the tank for Obama.

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I will make a bet that like Clinton when he ran for office and backed out on his cutting taxes promises, Obama will do the same.

I think maybe McCain needs some good reading material to help him understand what "socialism" is.

Socialism- Basically REALLY big govt. Also no privatization- government owns all land, property and businesses. The government manages basically everything in the country. It completely regulates the financial market, steps in to pour funds here and there and what not.

Obama is a socialist? Coming from the man who wanted the government to bail-out the mortgage thing with taxpayer's money, I would like McCain to go and open a dictionary.

Greg h

So was Clinton a sociallist ?

Because thats all barack obama is doing putting them back up and giving the middle class a tax cut!

McCain wants to take from all of US to give the Banks $300 Billion for morgage defult homes.

He also wants to take from US to give $200 Billion dollar to coporations like the oil compaines...

Explain the good of that ?

Robbing the poor to give to the super Rich ??

1) The whole basis for the Bush tax cuts for the wealthy was the Reagan "trickle down" theory, i.e., the wealthy create jobs for the rest of us. Close to 750,000 Americans have lost their jobs since the beginning of the year. "Trickle down" doesn't seem to be working.

2) I get sick, particularly in this environment, of hearing the contention that income is the result of "hard work." I know a lot of low income people who work a good deal harder than most of the thieves on Wall Street or the coupon-clipping trust funders.

Tch. McCain also wants to continue bleeding us with $10 billion in Iraq every month.

Does he know HOW MUCH we owe the Chinese already? Well, McCain, the number has about twelve zeroes behind right now. We still have to add the interest.

He wants to give everyone this wonderful tax cut but right now we need to get rid of the deficit. How is he going to pay for his plans if he doesn't want to raise anyone's taxes? With the crashing of the economy, we won't be able to increase revenues into the country for a while.

"Earth to Jake, Earth to Jake": Financial Crisis....a bailout of umpteen Trillion...all bets are off....recession...spread the wealth around.

Jake, neither Obama nor McCain will be able to stick to any of the economic plans they have been promoting. It is a new world and who ever is President is going to have a difficult time doing anything.
That neither have said they will have to totally scrap what they have been pushing is a farce to the American people.

'The difference here is not the principle, it's the degree to which that principle is applied.'

Well under Obama the principle of progressive taxation is more pronounced and more heavier and it resembles more like a European country. Under McCain the principle of progressive taxation remains the same.

I dont think this is a good idea and I think it is bad for the economy.

Hard work should not be taxed heavily as Obama thinks it should be.

So, McCain can buy my vote for 2.9 million annually for 4 years? I won't take a promissory note...strictly cash.

On the other hand, since no one is handing out millions and its unlikely that i'll be making 2.9 in the next couple of weeks...its a better bet to go with whats not in the 0.1 percentile.

Debbie,

Youve already said you not voting for Obama for a reason...

Roe v Wade will not be changed!

Obama gives more to middle America and puts those that make over $250 000 back up to were they were under Clinton!

Thats fine with me!!

Obama 08

Greg h: "As you work hard and earn more money, Obama's taxes go up and up."

That's true of McCain as well. We have a progressive tax system, and he's not proposing abolishing that. Do you understand that?

The difference here is not the principle, it's the degree to which that principle is applied.

Obama tax plans are very clear.

People on low incomes get a lot of money of back.

As you work hard and earn more money, Obama's taxes go up and up.

This is clear a repudiation of hard work.

Obama punishes hard work and rewards the lazy, Obama is a classic socialist more suited for a European country.

Anyone who would vote for Obama would have to be crazy. He will do nothing but further the lazy, welfare state. I used to do taxes and was so sicken by the fact that I paid in 18,000+ in taxes and others who paid in $100 and hardly worked got $3,500 in refunds (using Earned Income Credits, etc.)

WLooking at this, the difference is clear: Obama would raise taxes on the wealthiest members of this country, while McCain would LOWER taxes on the wealthy. Sounds very much like George W. Bush's tax plan to me. And given that Joe the Taxpayer has just bailed out huge banks for giving out worthless mortgages, I think raising taxes on the the richest of us to get some of that money back is a pretty good idea.

And how come "troopergate" was reviewed with the speed of a gazelle when the trial in which Obama might be also be involved.... REZKO.... is being delayed til a day or so before the election?

posted by hmmmm Oct 20, 2008 2:15:57 AM

THere were 14....yes 14 Republicans and 4 democrats on the panel ask them.

To all dems on this blog, let's just ignore the scared republicans and neo-cons on this page. Their boys going to get a royal thrashing at the polls by Obama and the dems in 16 days and they're so desperate right now that they can literally taste it.

Desperation - tastes nasty don't it? Now you know how the rest of us felt in 2000 when Bush stole the Florida vote and took the White House. At this point Obama could be from Vulcan with green skin and pointy ears, be married to a red skinned martian and still carry this election (Since your most obvious fear is based on skin color). Start getting over it now, because there won't be a come from behind McCain / Palin upset victory announced November 5th. It'll be Obama by 7 points. Meanwhile, start enjoying what it feels like to join the rest of the human race. Sounds like a little change for the better might be just the thing for you folks. Hey! Look at the bright side... The way Bush and the GOP have screwed everything else up Obama could lay on the presidential desk in the oval office and just sleep for the next four years and it'd still be an improvement in government. GOP - we won't forget. And it'll be a very cold day in hell before any American ever trusts you folks again.

Yes, Obama has to tax some people more, so he can give hand-outs to the 40% of Americans who pay no income taxes.

Posted by: Lee | Oct 20, 2008 1:50:34 AM

I have seen that statement posted repeatedly. Please show me where you and the others got this from. I have asked repeatedly and noone has yet to post a link.

"Same here. If I get a raise this year I'll get a nice tax increase under Obama, so some lazy complainer can enjoy the fruits of my labor."

If a raise pushes you into a higher tax bracket, your taxes go up under Obama or McCain.