Who'd give more to the middle class?

[Dos Equis]

Who'd give more to the middle class?
Posted: Friday, August 08, 2008 11:49 AM by Domenico Montanaro
Filed Under: 2008, McCain, Obama
From NBC's Domenico Montanaro
McCain claims in an ad released today that "Obama voted to raise taxes on people making just $42,000. He promises more taxes on small business, seniors, your life savings, your family."

But when it comes to promises, it's worth pointing out that, according to the non-partisan Tax Policy Center's analysis of both candidates' proposed plans, Obama would cut taxes for those making in the range of $38,000 to $66,000 three to almost eight times more than McCain would.

Under Obama's plan, according to the center, by 2009, those making $37,595 would see an average increase in their income of 3.6%, or a tax cut of $892; those making an average of $66,354 would see an increase in their income of 2.4%, or a tax cut of $1,042.

On the other hand, Under McCain's plan, those making $37,595 would see an increase in their income of only about 0.5%, or $113 tax cut; those making $66,354 would see only an increase of 0.7% in their income, or a tax break of $319.

http://firstread.msnbc.msn.com/archive/2008/08/08/1255817.aspx

[24KT]

Who'd give more to the middle class?
Posted: Friday, August 08, 2008 11:49 AM by Domenico Montanaro
Filed Under: 2008, McCain, Obama
From NBC's Domenico Montanaro
McCain claims in an ad released today that "Obama voted to raise taxes on people making just $42,000. He promises more taxes on small business, seniors, your life savings, your family."

But when it comes to promises, it's worth pointing out that, according to the non-partisan Tax Policy Center's analysis of both candidates' proposed plans, Obama would cut taxes for those making in the range of $38,000 to $66,000 three to almost eight times more than McCain would.

Under Obama's plan, according to the center, by 2009, those making $37,595 would see an average increase in their income of 3.6%, or a tax cut of $892; those making an average of $66,354 would see an increase in their income of 2.4%, or a tax cut of $1,042.

On the other hand, Under McCain's plan, those making $37,595 would see an increase in their income of only about 0.5%, or $113 tax cut; those making $66,354 would see only an increase of 0.7% in their income, or a tax break of $319.

http://firstread.msnbc.msn.com/archive/2008/08/08/1255817.aspx

As we've been saying all along... Mccain's policies are a continuation of bush ...they favour the super rich.

Unless you're a Hilton or a Soros... Obama is the one to vote for, ...and even Soros is voting for him.


BB, thanks for posting that. I'm surprised that you did, ...but I'm also glad that you did too. 

[MB_722]

As we've been saying all along... Mccain's policies are a continuation of bush ...they favour the super rich.

Unless you're a Hilton or a Soros... Obama is the one to vote for, ...and even Soros is voting for him.

b/c Soros is one of his backers. hehe 

[24KT]

b/c Soros is one of his backers. hehe 

Soros is a very smart man. 

[w8tlftr]

Ron Paul.

[headhuntersix]

Soros is a very smart man. 

No he's a piece of shit...

[MB_722]

No he's a piece of shit...

I'm honestly interested in why you think this. Care to explain? Thanks

I have no opinion on him yet.

[headhuntersix]

We discussed this a million times..so i would invite u to do some research...in short he's under cut currencies tro the point that he's been criminally charged. He wants u to cut back while he lives as he pleases. He has purchased radio/TV/print companies all across Eastern Europe and stiffled fdebate and spewed Left Wing crap....there is more but feel free to look.

[MB_722]

We discussed this a million times..so i would invite u to do some research...in short he's under cut currencies tro the point that he's been criminally charged. He wants u to cut back while he lives as he pleases. He has purchased radio/TV/print companies all across Eastern Europe and stiffled fdebate and spewed Left Wing crap....there is more but feel free to look.

thanks for doing that 

I'll look into it

[headhuntersix]

Yeah several of us right wing nutbags have posted various articles on this guy...but do ur own research. We report, u decide..fair,  balanced and unafraid.

[TerminalPower]

"Give more to the middle class"   Don't give the middle class, low class, upper class shit.

 

Close the MF'en Borders

Fix the budget,

fight the terrorists,

legalize steroids and Marijuana, tax them to help pay it down.

Reduce my taxes and make a flat tax for all income earners, your poor tough shit!

Get rid of welfare for people who have used it for over 2 years

Start effen drilling NOW

Fund alternative sources (LIMITED to incentives)

Lets start there!

End social security for children born next year and give me whats mine NOW.



 

[headhuntersix]

"Give more to the middle class"   Don't give the middle class, low class, upper class shit.

 

Close the MF'en Borders ........yep

Fix the budget,......yep

fight the terrorists....yep

legalize steroids and Marijuana, tax them to help pay it down...i guess

Reduce my taxes and make a flat tax for all income earners, your poor tough shit! ......yup

Get rid of welfare for people who have used it for over 2 years...yup

Start effen drilling NOW...yup

Fund alternative sources (LIMITED to incentives) yup...only to get them off the ground

Lets start there!

End social security for children born next year and give me whats mine NOW........ok or invest it.



 

[24KT]

legalize steroids and Marijuana, tax them to help pay it down.

Reduce my taxes and make a flat tax for all income earners

Make up your mind. You can'thave it both ways.
If you want him to tax steroids and marijuana, ...YOUR taxes will skyrocket

End social security for children born next year and give me whats mine NOW.
 

Who do you think pays for social security? do you propose they end the program but continue to take SS deductions from people's checks, ...I don't think such a preposterous scenario will fly.

ps: What WAS yours is now a shoddy bullet ridden building in Iraq

[headhuntersix]

End social security for children born next year and give me whats mine NOW....pretty damm clear to me....end it now.

[shootfighter1]

Lots of hard working people in this country are making $75,000-$150,000 and deserve to keep that $.  Is there an analysis on those income earners.  I consider this range upper middle class, which includes most general professionals.

[Dos Equis]

Lots of hard working people in this country are making $75,000-$150,000 and deserve to keep that $.  Is there an analysis on those income earners.  I consider this range upper middle class, which includes most general professionals.

Completely agree.  I wouldn't even stop at $150k.  There are a lot of small business owners, including professionals, who gross more than $150k but can't really be considered "wealthy." 

[240 is Back]

I'm starting to like beach bum.

very honest info there.

[Straw Man]

Bush is the only President to lower taxes during a time of war.  I guess this was ok becasue the war was only supposed to last "6 days, 6 weeks, I doubt 6 months" and was supposed to be paid for by Iraq oil profits.   5+ years later we're waging two wars with no end in sight.  The war is estimated to cost to US TAXPAYER 3 trillion dollars while at the same time we learn that the Iraqi government is projected to have a 79 billion dollar budget surpus.  Because supply side economics is an abject failure Bush was forced to borrow hundreds of billions of dollars to pay for this war (and also to pay for his unprecedented increase in government spending)

What does this have to do with the candidate tax plans?

Whover wins in November will inherit this mess.

McCain strategy seems to be to LIE repeatedly about his opponent and hope that you are too stupid to educate yourself.

Here's some info I found on Snopes.com

http://www.snopes.com/politics/obama/taxes.asp
http://www.taxpolicycenter.org/
http://www.taxpolicycenter.org/UploadedPDF/411693_CandidateTaxPlans.pdf

Here's a simple chart that might put things in perpective, here are the changes in 2009 based on each candidates proposals

                  MCCAIN    OBAMA    

    Income    Avg. tax bill    Avg. tax bill    
Over $2.9M    -$269,364    +$701,885    
$603K and up    -$45,361    +$115,974    
$227K-$603K    -$7,871      +$12    
$161K-$227K    -$4,380      -$2,789    
$112K-$161K    -$2,614      -$2,204    
$66K-$112K    -$1,009           -$1,290    
$38K-$66K    -$319        -$1,042    
$19K-$38K    -$113        -$892    
Under $19K    -$19          -$567    

[Butterbean]

Lots of hard working people in this country are making $75,000-$150,000 and deserve to keep that $.  Is there an analysis on those income earners.  I consider this range upper middle class, which includes most general professionals.

Do you agree that people making $150,000 + should be able to keep that money too?

As we've been saying all along... Mccain's policies are a continuation of bush ...they favour the super rich.

Unless you're a Hilton or a Soros... Obama is the one to vote for, ...and even Soros is voting for him.

What income level is considered "super rich?"

Straw Man, thanks for those links. 

[24KT]

Do you agree that people making $150,000 + should be able to keep that money too?

I believe under Obama, the income threshold is $250,000 not $150,000

What income level is considered "super rich?"

I guess that's all relative. From my perspective... mid to high 7 figures.

[240 is Back]

Bush is the only President to lower taxes during a time of war.  I guess this was ok becasue the war was only supposed to last "6 days, 6 weeks, I doubt 6 months" and was supposed to be paid for by Iraq oil profits. 

You are correct, good sir.

[24KT]

Bush is the only President to lower taxes during a time of war.  I guess this was ok becasue the war was only supposed to last "6 days, 6 weeks, I doubt 6 months" and was supposed to be paid for by Iraq oil profits. 

And the total USA cost for re-building Iraq was only supposed to be $1.4 billion. That's it. 

[shootfighter1]

I'd like to see sound verification of that comparison table.

Actually, I believe everyone should pay a flat tax until you make over $250,000.  $250,000 & up I would consider wealthy...though it depends on where you live.  In manhattan, $250,000/yr buys you much less.  These definitions change as the price of goods goes up.

I just don't believe that people making $100-$250,000 won't be taxed higher under Obama.  Earlier, he said that # was $150,000, now it has been changed to $250,000 & over.  Also, he is going to raise taxes on business (including small business) and raise taxes on capital gains, which affects all income earners.
Leftist democrats like Obama will figure out a way to justify higher taxes, despite the $250,000 & up he now quotes.

[Straw Man]

I'd like to see sound verification of that comparison table.

Actually, I believe everyone should pay a flat tax until you make over $250,000.  $250,000 & up I would consider wealthy...though it depends on where you live.  In manhattan, $250,000/yr buys you much less.  These definitions change as the price of goods goes up.

I just don't believe that people making $100-$250,000 won't be taxed higher under Obama.  Earlier, he said that # was $150,000, now it has been changed to $250,000 & over.  Also, he is going to raise taxes on business (including small business) and raise taxes on capital gains, which affects all income earners.
Leftist democrats like Obama will figure out a way to justify higher taxes, despite the $250,000 & up he now quotes.

If you're referring to the chart I posted did you also check the links?

Snopes is the easy version and the document from the Tax Policy center is the much more in depth version (which is the data that was used to create that chart)

Here's the link again:  http://www.taxpolicycenter.org/UploadedPDF/411693_CandidateTaxPlans.pdf

Something to keep in mind is that McCain has been LYING about Obama's plan and those lies are being repeated over and over again in the media (TV and Print).   You have to do your own research and draw your own conclusions

[shootfighter1]

I know there's a lot of BS that all politicians sling.
I'll check out the links, thanks.

Obama himself says he will raise taxes on anyone making $250,000 or more...but thats not what your chart reflects.
 
Question, is that $250 per individual or per family?  Makes a big difference.
Right now, I believe $250,000 is wealthy and I understand keeping taxes higher on the % of income that is greater than that level.  However, income tax is not the only tax to consider.  Obama will raise more than just income tax.

I just don't believe big gov is in our best interest, the founding fathers agreed.  The Europeans want us to do that to be more like them...and more mediocre.  Thats not what made our country great.  Big gov spending is my biggest criticizm of the Bush administration.  Most of the spending is because of the war...but its inappropriate.  Thats why I am an independent.

My hope is that McCain will cut spending and keep taxes the same or lower.  I'm concerned about spending...with both of these candidates.  Most important is taxes, expenses and regulation on businesses.  If we stiffle our small businesses (and its investors), we destroy our economy and our tradition.

Why is India & China flourishing?  Well, one big reason is that capital gains taxes are very low with few regulatory restrictions.  Companies move there, jobs created and buisness flourish...which means the economy grows.