Obama's tax cut for 95% of Americans

iVillage Member
Registered: 08-17-2005
Obama's tax cut for 95% of Americans
412
Mon, 10-13-2008 - 11:24am

I know it is endlessly brought up how Obama is going to cut taxes for 95% of working families.

Susan

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iVillage Member
Registered: 04-09-2007
Tue, 10-14-2008 - 12:54pm

I hear you.

iVillage Member
Registered: 01-06-2007
Tue, 10-14-2008 - 12:59pm

Hi,


Just to clarify-- the Earned Income Tax Credit is *only* for those low-income people who work.

-Sarah, mom to Melissa Jeanne, born 9/4/07, and baby boy, due 4/9/10

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iVillage Member
Registered: 03-20-2003
Tue, 10-14-2008 - 12:59pm

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And yet you are. Those on welfare not working are NOT receiving EIC. Period.


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iVillage Member
Registered: 10-02-2008
Tue, 10-14-2008 - 1:33pm

"Congratulations.

KAREN

Avatar for mommastacie
iVillage Member
Registered: 03-20-2003
Tue, 10-14-2008 - 1:37pm
He has always said 100k-250k will NOT be taxed at the same rate as those over 250k.


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iVillage Member
Registered: 03-20-2003
Tue, 10-14-2008 - 1:39pm
But still consider yourself lucky.. even when we were both working full time we made under 40k and even when we were stationed in Germany beyond hubby's 10 year mark making a decent COLA & whatnot we were under 50k. Right now we are at 32k.


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iVillage Member
Registered: 09-09-2008
Tue, 10-14-2008 - 1:45pm

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Well then this plumber must be some kind of plumbing genius because he will be affected by Obama's tax increase as will many more small business owners.

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Huh? Maybe you don't understand taxes. The only part of this statement that makes sense is that the people EARN their "weatlth".

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I don't know any hedge fund managers. I do know some policemen. They have a dangerous job and I would love to see them get a raise but they do not want a handout. Even without a raise the policemen I know have done quite well for themselves. One policeman I know even owns two homes. I don't know any migrant workers but I would guess that many are illegal aliens and don't have the "right" to anything with the exception of deportation. I do know some accountants, they paid their own way through college, they work long hours, have a stressful job, travel a lot, and can wind up going to jail if they make a mistake in their job, and work hard for years to work their way up the ladder. I don't think I've said that pay is based on how hard you work. It does take some smart decisions, and hard work to get to be wealthy if that is your goal. Not everybody wants that, that's fine. If they do want that then they can make the same kind of decisions that the people who have already traveled that road have made, or they can blaze their own trail.

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The money should be left in the hands of the people that earn it, that will help the economy.

Here's a quote from the Wall Street Journal so you don't have to take my word for it.

"Mr. Obama, by contrast, offers tax increases on savers, investors, small business, employers, and other job creators, a trillion dollar plus spending increase, and new regulatory burdens. That has no prospect of restoring economic growth. It will only do the opposite."

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First of all I don't consider someone who makes $250,000 "very wealthy". They're obviously doing pretty well but they are a far cry from being a Donald Trump. Secondly, letting someone keep what they've earned is not "giving" them anything; after all, it was theirs all along. As for your trickling up theory I refer you back to the WSJ quote.

iVillage Member
Registered: 10-02-2008
Tue, 10-14-2008 - 1:47pm

"Obama's would raise the debt by $2.9 trillion, McCain's by $4.2 trillion."


KAREN

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iVillage Member
Registered: 03-20-2003
Tue, 10-14-2008 - 1:47pm
Most plumbers I know make under 100k so they would not be affected at all under the increase.


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iVillage Member
Registered: 03-20-2003
Tue, 10-14-2008 - 1:52pm

It's still raising the debt by nearly a trillion more than Obama so how that's better for the economy I wish i knew.

And we could afford 310/mo however if you look at the fine print they are not available in NY. Same goes for those debt consolidation places.. NY state is very picky about what services they allow. They WANT us to use Healthy Families ($550/mo minimum for us which NO I cannot afford) b/c they get the $$ from it and so those cheap places are not allowed.

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I will not reply to that other than to say it was extremely rude & unnecessary.


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