There's a new Republican e-mail going around. It contains the usual Republican lies about how McCain is going to cut your taxes, while Obama will raise everyone's taxes. It says Obama will put new taxes on all homes over 2400 square feet (A LIE) and Obama wants new and higher gas taxes (A LIE). In fact, about the only thing this e-mail has right is that it spelled both candidates names correctly.
But perhaps the biggest tax lie the Republicans are spreading is that Obama wants to raise your income taxes. Actually, this is true -- if you make over $603,000 a year. And frankly, if you make that much you should be paying more taxes. But if you're just a middle-class or working-class American making less than that, then Obama's tax plan will help you more than anything McCain has proposed.
McCain is basically following the Bush/Cheney tax policy. Give huge savings to the rich and next to nothing to everyone else. Here is the Tax Policy Center's estimate of savings in income taxes under the proposals put forward by both candidates:
INCOME.........McCain Plan.....Obama Plan
But perhaps the biggest tax lie the Republicans are spreading is that Obama wants to raise your income taxes. Actually, this is true -- if you make over $603,000 a year. And frankly, if you make that much you should be paying more taxes. But if you're just a middle-class or working-class American making less than that, then Obama's tax plan will help you more than anything McCain has proposed.
McCain is basically following the Bush/Cheney tax policy. Give huge savings to the rich and next to nothing to everyone else. Here is the Tax Policy Center's estimate of savings in income taxes under the proposals put forward by both candidates:
INCOME.........McCain Plan.....Obama Plan
under $19K.....-$19..............-$567
$19K-38K.......-$113.............-$892
$38K-66K.......-$319.............-$1042
$66K-112K......-$1009............-$1290
$112K-161K.....-$2614............-$2204
$161K-227K.....-$4380............-$2789
$227K-603K.....-$7871............+$14
$603K-2.9M.....-$45361..........+$115974
over $2.9M.....-$269364.........+$701885
As you can see, McCain gives far bigger tax breaks to the rich. However, Obama gives the tax breaks to the people who need it, while making those who can afford it pay their fair share. Which plan seems the fairest to you?
After the huge deficits run up by the Republicans, I think Obama's plan is the only one that makes sense.
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