Obama and McCain's tax proposals

So, if you make less than $111,645 per year, Obama's plan is the best choice.

In addition, more overall tax revenue to help reduce Bush's record deficit.

I'm a little confused on the capital gains tax increase talked about though. I'm disabled but close to being able to start to take my 401K money out to live on and not be broke all the time from just disability. Most of that is in my old company's stock. When I take that out is it capital gains taxed?

John,

Unless you are pulling out big bucks (millions), you have nothing to worry about. Obama is not trying to hurt the middle class, he understands what it is like to try to make ends meet.

Hopefully, Obama won't have a chance to do this. Taxing people who are successful won't help our economy. They'll find ways to hide the money or take even more jobs overseas. Then? Ooopsie, sorry middle class and poor. Now I have to raise your taxes. Blame it on Bush.

Marilyn,

People who are successful? Successful at what? Spending the money they personally have done nothing to earn. Just what has Cindy McCain done to contribute to the success of companies in which she holds stock?

Marilyn implies (whether on purpose or not) that people making less than $226k are successful. The other ones are not. That's obviously false. The majority of self made people who are successful in many ways make less than $200k.

Often times very well educated people (la creme de la creme) retire with salaries around $150k, $200k. They are not rich by any means but to imply they are not not successful.

Who is Cindy McCain? People don't think.

There needs to be a lot more in the discussion of than TAXES. Let's start with the fact that McCain has supported huge deficit spending. So, McCain says he's cutting your taxes now, sure, but then you're going to have to pay for it later - with interest.

Then, there needs to be a discussion about how this money is spent. Throw it away on a failed war that was never needed in the first place, or invest it in the USA, so that the money re-enters the private economy.

The picture is just a start - it isn't worth a thousand words, really.

Another good one.

Question: how many people do YOU know who make more than $111k a year?

Answer: I know several, and they are greedy, CHEAP people who -- though they would love the tax advantages, really do NOT need them. They are NOT hurting. They are just GREEDY.

***************Featured in We the People***************

Tax the rich. If they're gonna rip the rest of us off, make em pay !!! They'll still be rich.

(after a certainly amount of RICH - you are not worth it, not anybody, and you're legally ripping the rest of us all off !!!)

How could anyone NOT see this?

Even Stevie Wonder could SEE this!!!



Well, Stevie Wonder DOES see it, which is why HE supports Barack Obama.

Step aside, Michelle. I'm starting to fall in love with your man


No, just kidding. Do NOT want any rumors to begin.

. . . but Middle and Poor America need Obama. The rich? Well . . . they need him, too.

They just haven't figured it out . . . yet!

I do blame Bush and the Republican Fat Cats. Here we are spending billions on a war that we are borrowing money to pay for because Bush and the Republican congress cut taxes. They reduced income and increased spending . The national debt has ballooned in the past 8 years because of our irresponsibile government who are always preaching personal responsibility. These folks need to practice what they preach. McCain will be no different.

At least LBJ and his congress had the decency to support their stupid little war by making everyone pay a 10% surcharge on their taxes to pay for the war.

I support a $3.00 per gallon federal tax on gasoline. $1.00 to reduce the national debt, $1.00 for a crash program to become energy independant using something other then oil, and $1.00 to rebuild our infrastructure of bridges, highways, mass transit, etc. etc. etc. which have been ignored for the last 8 years.

Lady Neeetah you are much prettier that Michelle.

Also in this subject is the impact on tax revenues.

For a ten year period 2009-2018 the McCain plan reduces revenues by 4.17 trillion and Obama's plan reduces revenues by 2.8 trillion. This is based on the Urban-Brookings Tax Policy Center in Microsimulation Model (version 0308-06).

Since spending cuts are not likely to offset this, could economic growth help close this gap?
Or do we just take on this much more deficit?

We pretty much take that much more deficit unless economic growth creates more jobs, hence more people/corporations to tax, more revenues.

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