For Incomes Below $100,000, a Better Tax Break in Obama’s Plan

New York Times ^ | October 30, 2008 | Steven Greenhouse

[reaganaut1]

Mr. McCain has been sounding the traditional Republican tax-cutting theme, trying to convince voters that Mr. Obama, the Democratic nominee, wants to increase taxes and spread the wealth like a socialist.

Helped by the emergence of Joe the Plumber and using Mr. Obama’s own words, Mr. McCain has insisted that Mr. Obama’s tax policies would hurt small businesses and upwardly mobile individuals, while providing welfare for low-income Americans.

Mr. Obama has been fighting those accusations in stump speeches and commercials, in recent days asking members of his audience to raise their hands if they made less than $250,000 a year. Fewer than 3 percent of households make more than $250,000.

[musicman]

[NavyCanDo]

Obama is already on record as saying he will let the Bush Tax Cuts expire. Which will effect ALL of us.

[Mr. Jeeves]

For Incomes Below $100,000, a Better Tax Break in Obama’s Plan.

For People who Some Day Want to Earn Incomes Above $100,000, a a Kick in the Teeth in Obama’s Plan.

[Jack of all Trades]

The real truth is that if you actually pay any taxes it all, they would go up under O-man so he could spread the wealth to those that don’t. Otherwise known as his base.

[mriguy67]

I am wondering does this tax break of obama come before or after they let Bush’s breaks expire. Also are we niave to believe that the dems will really give us a break and not tax us somewhere else?

[jurroppi1]

you cannot deduct child support payments from your taxable income - they come out post tax, but you do not get to claim them. I know, I’ve been there. You may get the child tax deduction e/o year, but that’s it! You may also be able to claim HOH, and the EIC, but not likely. You could claim alimony payments though. Believe me, divorce is an extremely expensive game to play, so you would lose no matter what in that scenario.

[ChicagahAl]

” would be able to reduce my net income by paying child support and deducting that amount from my taxes”

So-called “Child Support” is neither taxable, nor tax-deductible. Its just free money for women to spend any way they want.

Alimony is taxable and tax-deductible.

[MichiganRed08]

I make under 100000 and have 3 kids. My enormous tax break under Obama will be 34 dollars more than McCain. That is according to Husseins own calculator. This tax break for us working folks is a farce.

[The Sons of Liberty]

0bama can promise a better tax break under $100,000 because there will BE NOT BE A TAX BREAK, ONLY TAX INCREASES!

Every day the number changes - first it was those making over $250,000 then it was $200,000 then very quickly it became $150,000 and today I see the number is $120,000. Those getting a tax break are getting smaller and smaller and it is no wonder! There is no way 0bama can deliver on all that he has promised. If you're looking for money, forget it.

[GoLightly]

Oh please, if you aren’t making over 150K you aren’t working hard enough.

Rut roe, I already feel the whip on my back. I got a picture of an Obot making more than $102 when reality hits. He'll go to his bossman & ask for a raise. Bossman's gonna tell him he was already given one & it was a big one.

[ari-freedom]

if you believe that then I have a clinton middle class tax cut for you!

[TankerKC]

On the average, people with income below $100,000 would get more from Obama than from McCain.

Obama's going to "give" to us. OK.

[an amused spectator]

If government becomes primarily a means of stealing from one group of people to give to another group, it will have no more moral legitimacy than the mafia, and I think "tax evasion" will be weighed by many people purely in terms of the benefits vs. the cost of getting caught.

We might have to apply the Bush Doctrine to the tax terrorists.

[an amused spectator]

Does the Hussein tax calculator take into account the expiring Bush tax cuts?

The Main Stream Obama's New Government Media keeps forgetting to mention the effect when that kicks in...

[mrsmith]

Yeah, it would be great for me if the guy I have to ask for a raise needs more money for the government, if the guy I buy from or sell to needs more money for the government, if my landlord needs more money for the government...

[listenhillary]