You said that Barrack will lower taxes and yet under Obama:
Income tax rate- increase 4.6%
Income/payroll- increase 14.8%
Capital gains- increase 13%
Dividends- increase 21.6%
Estate tax- increase 55%
The Democrats have slashed the child care tax credit in half and brought back the marriage tax penalty that Republicans once successfully eliminated.
Among those who will experience a tax increase if Obama’s plan ever becomes law:
26 million small business owners, by an average of $3,960.
48 million married couples, by an average of $2,899. (Marriage Tax)
42 million families with children, by an average of $2,181.
12 million single women with children, by an average of $1,082.
17 million senior citizens, by an average of $2,270.
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What kind of National Security expereince does Barrack have?Originally posted by treelizard View Post
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At least the rich people got bailed out by big government.Originally posted by eXcessiveForcebecause we have seen what homeownership has done for poor people the last couple years.
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From the Tax Policy Center
The impact of the tax code on economic activity under each candidate’s policies would differ in several important ways. Under Senator McCain’s proposed policies, the top marginal rates (35 percent on individual income and 25 percent on corporate income) would be significantly lower than under Senator Obama’s plan (39.6 and 35 percent, respectively). 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, particularly if the childless EITC and payroll tax rebate encourage additional labor supply among childless low-income individuals. However, he would also direct new subsidies at an already favored group—seniors —and an already favored activity—homeownership—which could probably be better directed elsewhere.
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You know, actually Obama is the only candidate who can say that he actually has helped poor Americans.Originally posted by eXcessiveForceHe wants to give 80 billion to the UN to distribute to the rest of the world. If he is so concerned with poor people how about helping poor Americans with that money instead.
And it'd be pretty tough to convince me that someone who wants to cut taxes for the richest people actually gives a shit.
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Interesting seeing as I got an e-mail from a friend of mine (Before he went to Iraq for the fourth time...he just returned) saying after three tours there he wouldn't vote for anyone who wants to stay.Originally posted by eXcessiveForce
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Yes, giving tons of money to rich people and corporations helps poor people. And there'll be pie in the sky when you die.Originally posted by eXcessiveForceIt only lowers your personal taxes according to the calculator, but you have to ignore the economic impact of the entire plan to see if it will benefit you. The increase on corporations will result in higher prices which will be passed on to consumers. This is how it works.
Companies work with profit margins. so if costs go up, the shift their prices to maintain their margins whenever possible.
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I already provided a site where you can plug in the amount you make and it estimates the amount you will get back based on the proposals. It is based on data from a non-partisan tax research group.Originally posted by darrianation View PostHmmmm...Obama's tax plan as I have already said will be the biggest in US history. Explain how he will lower taxes?
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Originally posted by treelizard View PostObama would lower my taxes considerably.
Hmmmm...Obama's tax plan as I have already said will be the biggest in US history. Explain how he will lower taxes?
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