Free Republic

THIS WILL CHANGE YOUR RETIREMENT For those among you who have more money than you will ever need, save your time and delete this email. For the rest of us who are still working with mortgages, children and grandchildren or retired living on a pension and or Social Security perhaps you will take a couple of minutes to read the proposed changes in the American tax system. Sharing this email with others can make a difference on November 4, 2008; for our citizens and our country. INTERESTING DATA JUST RECEIVED ON TAXES This is something you should be aware of...

With President Obama in office, the days of governments extracting a top marginal rate of 60% will return. Could bell bottoms be far behind? Remember how the press made George Bush’s tax rate cuts look so “huge” in 2001 and 2003? A March 10, 2001, New York Times article by reporters Frank Bruni and Richard W. Stevenson typified the approach. The trick was to talk about the (scary) $1.6 trillion impact of the “cuts” while minimizing attention to their time frame. At the linked article, the reporters waited until the ninth paragraph to tell us that it was a “$1.6...

Senator Obama's tax plan is a dramatic redistribution of the nation's tax burden, according to a new Tax Foundation analysis. In Tax Foundation Fiscal Fact, No. 132, Tax Foundation president Scott Hodge uses revenue estimates from the Tax Policy Center to show that Obama's plan would greatly accelerate the decades-long trend toward a federal government that depends for tax revenue almost exclusively on a few high-income people. Hodge acknowledges that some Americans may cheer this dramatic dependence on the highest earners, but he says the shift should be part of a larger national discussion asking questions such as: What is...