Go To:
Contact:
Polls:
Other Notable Sites
Dueling Tax Plans
My local rag did a comparison of Obama's and McCain's tax plans today. It's interesting to note that the middle class will do much better under a President Obama.
The [Tax Policy Center] also calculated that the wealthiest would see their incomes rise by 3 percent if McCain's broad tax cut plan became law.The middle class would see income gains of about 2 percent under Obama but somewhat less if Congress were to accept the ideas of McCain, according to the tax center's estimates.
There we go. the middle-class -- and therefore America -- will be better off under a President Obama. Also from the Tax Policy Center's report,
McCain's reduced individual and corporate rates could improve economic efficiency and increase domestic investment, but the larger future deficits would reduce and might completely negate any positive effect. In contrast, Senator Obama's proposed new tax credits could encourage desirable behavior.
Basically, they're repeating something I've been saying for a long time: You can't raise revenue by cutting taxes -- that's laughable on the face of it. McCain is never going to balance the budget.
I trust Barak Obama to drive the US economy back into the black, just like Clinton did. McCain's ideas will never work. He's just peddling more of the same failed economic policies that we've seen for the last eight years.
Was this article informative?
Categories:
0 TrackBacks
Listed below are links to blogs that reference this entry: Dueling Tax Plans.
TrackBack URL for this entry: http://poliwatch.org/cgi-bin/mt-tb.cgi/8879
Expand - Collapse Comment
d.a.n said at :
11:48 AM, 08 06 2008 | Permalink
No doubt about it.
McCain wants to keep the current tax system, which is actually regressive, despite many peoples' belief that it is progressive. Here's the proof.
I don't have a problem with lower corporate taxes, because those are like a regressive sales tax that simply gets passed along to consumers.
The tax system would be that hard to fix.
Make it simpler.
Remove tax loop holes.
But that makes too much sense.
That's not what do-nothing Congress wants.
Congress is graveyard where common-sense ideas to to die.
d.a.n | August 6, 2008 11:48 AM
Reply to this comment
Expand - Collapse Comment
David R. Remer replied to d.a.n at: :
3:34 PM, 08 09 2008 | Permalink
Except for getting a majority of Congress to agree on just which direction to simplify it.
David R. Remer replied to d.a.n | August 9, 2008 3:34 PM
Reply to this comment
Expand - Collapse Comment
d.a.n said at :
5:34 AM, 08 07 2008 | Permalink
CORRECTION: The tax system would [not] be that hard to fix.
d.a.n | August 7, 2008 5:34 AM
Reply to this comment
Expand - Collapse Comment
David R. Remer said at :
3:32 PM, 08 09 2008 | Permalink
AP, the incredible thing about Americans is their propensity to believe McCain when he says Obama is going to raise their taxes. The fact is, only those earning over $250,000 per year would see their federal taxes increase under Obama's plan.
I don't know how, but, Obama is going to have to counter McCain's lies and deceptions if he is going halt McCain's moving up by fallaciously tearing Obama down.
I heard somewhere on TV, likely MSNBC, that a majority of Independents lean toward the GOP. This is not good if Obama cannot counter McCain's swiftboating of Obama's message and policy positions.
Of course, it would help if Obama wasn't shifting his positions every week or two.
David R. Remer | August 9, 2008 3:32 PM
Reply to this comment
Expand - Collapse Comment
d.a.n said at :
4:40 PM, 08 09 2008 | Permalink
McCain is stretching the truth when he says "Obama is going to raise your taxes".
What he is conveniently leaving out is that Obama's plan is to make the tax system fairer by eliminating some of Bush's tax breaks for the wealthy, and increasing the standard deduction, which will help the lowest income levels the most.
What too many voters don't understand is that the current tax system is very regressive.
Voters would be wise to simply ask to see the tax-curve across all income levels . . . something no one in Congress wants to show the voters.
But, perhaps enough voters will be less apathetic, complacent, and blindly partisan when enough of the voters are deep in debt, jobless, homeless, and hungry ?
At any rate, the voters have the government that the voters elect.
d.a.n | August 9, 2008 4:40 PM
Reply to this comment
Expand - Collapse Comment
10:24 AM, 08 13 2008 | Permalink
AP, you say you trust Obama to bring us into the black, fiscally. I am curious, just how is it you find this trust when Obama's numbers just don't add up to zeroing out the deficit, let alone creating a surplus?
Don't get me wrong, I think Obama is a vastly superior candidate to McCain in a host of ways. But, the demands upon our federal government are so very high, and our fiscal needs so diverse, I just don't see how Obama can possibly reach fiscal surplus and get reelected in 2012. Do you?
I am afraid I can't share your trust in Obama on this particular hope.
Reply to this comment