Taxes
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Taxes
| Sat, 09-06-2008 - 1:17pm |
Found this summary on the Obama Facebook page but I checked out the website and the summary is accurate according to the nonpartisan Tax policy Center.
The nonpartisan Tax Policy Center found that Mr. Obama's plan would amount to a tax cut for 81 percent of all households, or 95.5 percent of those with children. The center calculated that by 2012 the Obama plan would let middle-income taxpayers keep about 5 percent more income on average, or nearly $2,200 a year, while Mr. McCain would give them an average 3 percent break, or about $1,400. The richest 1 percent would pay an average $19,000 more in taxes each year under Mr. Obama's plan but see a tax cut of more than $125,000 under Mr. McCain.






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Turn it around, since I'm successful I deserve to keep MORE of my money.
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Sorry, but the real difference as far as financial rewards doesn't start until the $600,000 mark under McCain's plan. Not because it places any higher value on you but because those making in those ranges are suppose to create jobs and trickle good things on the rest of us economically or so the theory goes.
AKA the "Paris Hilton will save us" theory of economics.
The Reagan era deficits were due to increased military spending more than anything else because we were fighting the Cold War.
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You only pay that 28% on the amount between 64K and 97K. He's not paying 28% on his entire taxable income.
He marginal rate is less than 28%.
I disagree about European's being a "welfare state".
Very well said.
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