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Obama's and McCain's Tax Plans Compared

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Anonymous

Guest
Obama's and McCain's Tax Plans Compared
Each of the candidates has a tax plan, but they differ quite a bit. Here is a chart from the Washington Post showing the plans. McCain's plan focuses tax cuts on upper-income taxpayers. Obama's focuses them on lower-income taxpayers. However, with the government about to spend something like $1 trillion to buy nonperforming mortgages, it is unlikely the new President will have a lot of budget room left for tax cuts of any magnitude unless they are offset by tax increases of the same magnitude. In that respect, Obama's plan might be doable since it is budgetarily neutral, raising taxes on the rich by as much as it cuts taxes for the middle class. McCain's plan cuts taxes for everyone and thus reduces federal revenue and increases the budget deficit.
http://www.electoral-vote.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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Anonymous

Guest
Sandhusker said:
Can you Obamacons explain to me how you can cut taxes to people who aren't paying any taxes?

You mean those rich Americans McBusch's buddy Foreclosure Phils Swiss bank UBS was helping find secret foreign accounts for so they could hide their Millions $ from the IRS :???: :wink:
 

Sandhusker

Well-known member
Oldtimer said:
Sandhusker said:
Can you Obamacons explain to me how you can cut taxes to people who aren't paying any taxes?

You mean those rich Americans McBusch's buddy Foreclosure Phils Swiss bank UBS was helping find secret foreign accounts for so they could hide their Millions $ from the IRS :???: :wink:

No I don't. I mean just what I said. How can you lower somebody's taxes when they already aren't paying taxes? Obama is counting them in his total of people who's taxes will be lowered. How can he honestly do that?
 
A

Anonymous

Guest
Sandhusker said:
Oldtimer said:
Sandhusker said:
Can you Obamacons explain to me how you can cut taxes to people who aren't paying any taxes?

You mean those rich Americans McBusch's buddy Foreclosure Phils Swiss bank UBS was helping find secret foreign accounts for so they could hide their Millions $ from the IRS :???: :wink:

No I don't. I mean just what I said. How can you lower somebody's taxes when they already aren't paying taxes? Obama is counting them in his total of people who's taxes will be lowered. How can he honestly do that?

Looks like McBusch is doing the same...
 

Sandhusker

Well-known member
Oldtimer said:
Sandhusker said:
Oldtimer said:
You mean those rich Americans McBusch's buddy Foreclosure Phils Swiss bank UBS was helping find secret foreign accounts for so they could hide their Millions $ from the IRS :???: :wink:

No I don't. I mean just what I said. How can you lower somebody's taxes when they already aren't paying taxes? Obama is counting them in his total of people who's taxes will be lowered. How can he honestly do that?

Looks like McBusch is doing the same...

"McBush" isn't the one making the wild claims.
 

Blkbuckaroo

Well-known member
You can't cut taxes on people that are'nt paying federal income tax i have to agree,but Even people who work under the table pay sales tax when they go to the store,tax on gas when they fill up or most anytime anyone spends a dime anywhere.I do pay taxes,and i'd like to pay less like everyone.And i'd like to see the government help the working class instead of baling out rich bankers that got so damn greedy they cause the colapse of a system they set up an now need the government to bail them out with the help of who else?That's right the tax payers!
 
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