McCain should be hammering Obama on this deception. Under Obama taxes will increase for all taxpayers. Obama's 95% talking point is BS.
Posted on 10/27/2008 10:40:59 PM PDT by igoramus08
I confess. Senator Obama's two tax promises: to limit tax increases to only those making over $250,000 a year, and to not raise taxes on 95% of "working Americans," intrigued me...
The first loophole was easy to find: Senator Obama doesn't "count" allowing the Bush tax cuts to lapse as a tax increase. Unless the cuts are re-enacted, rates will automatically return to the 2000 level. Senator Obama claims that letting a tax cut lapse -- allowing the rates to return to a higher levels -- is not actually a "tax increase." It's just the lapsing of a tax cut.
See the difference?
Neither do I...
This year, however, we don't have to wait for the proof: Senator Obama has already promised to raise taxes, and we can believe him. However, while making that promise, he's also lied, in at least four significant ways, about who will pay those taxes. If Senator Obama becomes President Obama, when the tax man comes calling, we will all pay the price. And that's the truth....
Several Tables with Increase with Obama Tax Increase
(Excerpt) Read more at americanthinker.com ...
You can only take away so much before you end up with an inherently criminal culture. The ruskies are still dealing with that. The chicoms wont admit it. chavez is a fly by night punk hopefully and the damage will be minimal there. Cubans wash up on our shores daily wanting to die rather than live under a communist regime. I worry.
I wish it were that easy with the expiration of tax cuts, but I do not think it is... heritage does a comparo here (http://www.heritage.org/Research/Taxes/cda08-09.cfm) and claims obambi will extend the cuts for those under 250k. Need to stick to the redistribution tactic. no one likes the thought of taking from one and giving a CHECK to another.
BTTT
Obama has been anything but clear on the topic of the Bush tax cuts expiring. I do think that he has tried to ramble that he wouldn't let the rates for those earning below to increase, BUT we all know of course that is a complete lie when you consider who he is and the fact that he would likely have even stronger houses of Congress. We will all be paying more taxes under him, bank on it.
Could you please ask the admins to correct the spelling in your title? Thanks.
Look up the word “politics” in the dictionary. It is the combination of two words: poli, which means many, and tics, which means BLOODSUCKERS!!!
Of course the “Bush Tax Cuts” will expire under an Obama Presidency. Come on, those are failed policies and they have got to go so Obama can put in his tax cut and policy.
Man, I am already feeling more patriotic. /s
1) The entire federal income tax rates were reduced across the board for ALL incomes. When the 2003 tax cuts expire we all go back to the higher income tax rates of the year 2000. EVERYONE'S take home pay will decrease: low and middle income included. My household brings in about $90K/yr. The tax cuts allow me to keep $3800 more cash of my money per year. When the tax cuts expire, it will cost me $3800 per year. I cannot afford it! A household bringing in about $50K per year will lose $2500 - $3000 per year.
2) The earned income tax credit (EITC) was increased in both credit amounts and the yearly income up to $39K/yr. When Obama and the Dems expire the 2003 tax cuts, the EITC credit amount will shrink and only for those making in the high $20K/yr. These affects low income households severely. EITC http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=36
3) The child credit of $1000/child will go back to $500/child when Obama and the Dems allow the 2003 tax cuts to expire. This affects all incomes: low, middle, high.
4) The marriage penalty was eliminated with the 2003 tax cuts. When Obama and the Dems go back to the year 2000 tax codes, married couples will be paying higher taxes for being married. This affects all incomes: low, middle, high.
You are correct on all counts, and, by way of BO arithmetic, that means that 100% of Americans will get a tax increase.
Why John McCain isn’t hammering this is beyond my comprehension. Even if BO denies it, we then have him on record for the midterms.
I was wondering why in the heck McCain has never mentioned this?
Afraid of the “B” word? Figure something else out!
There is still questions as to B.O. and the Bush tax cuts.
B.O. has said they will be repealed for those over earning 250K. On his official tax calculator under the frequently asked questions about Bush tax cuts, the statement says that the Bush cuts are in effect through 2009 and are taken into account on the calculator.
No parsing needed IMO. I have to assume that the Bush tax cuts are gone after 2009 if BO is elected. This blows out of the water the B.O. statement that 95% of Americans will get a tax cut.
I want McCain to run and ad relentlessly pointing out that B.O. has been less than truthful about the Bush tax cuts and what it will mean to every American.
I email them every few days with this information and get no response. That campaign is brain dead!
B.O.’s official tax calculator implies the the Bush tax cuts will be in place through 2009. That is all it says.
It doesn’t say anything about the years 2010 to 2012.
His position is to obviscate and lie. Just like Clinton in 1993, all promises of middle class tax cuts will be revoked on January 21, 2009.
Good point, but it is worse than that. The RATS cannot afford to let the Bush tax cuts expire in 2010 — an election year. Therefore, in the interest of “common sacrifice,” expect a nationwide address in February 2009 in which BO tells us that the tax cuts have to expire now — for all Americans.
At that point expect all Hell to break loose.
I could have sworn he said he would extend them for under 250k in the debates... anyway, it does not matter what he SAYS, it matters what he DOES, and there is no way extension of the bush tax cuts makes it through both houses. I’ve been harping on that to all the well-to-do dems I know for months... it is one thing to propose a tax cut, it is another to get it through congress (same for McCain). In my view, no matter who gets elected, I believe the bush cuts will expire. The only difference is that under McCain, increases MIGHT be vetoed, under BHO, they most certainly will not (can you increase a tax hike in legislation by executive order? kind of like a line item HARUMPH!) ;)
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