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McCain Lies about Obama's Tax Plan - 11/3/2008 1:30:58 PM
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Evangel70
Posts: 550
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Obama's actual tax plan allow Bush tax cuts to expire, but only for the top two income tax brackets. Those would revert to pre-Bush levels, and the brackets would be adjusted if necessary to ensure that they include only individuals making more than $200,000 per year, or couples making more than $250,000. (Two percent of the population will make more than $250,000 next year).
Obama proposes a number of tax cuts for lower- and moderate-income people. According to the nonpartisan Tax Policy Center, by 2012 middle-income people (those in the middle one-fifth of all households) would get to keep an extra $2,200 per year in after-tax income on average under Obama than they do now. Under McCain, that figure would be $1,400. The top 1 percent of earners, on the other hand, would have to pay an average of $19,000 more in taxes under Obama, while under McCain they'd see their taxes cut by an average of $125,000.
Source
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May the God who gives endurance and encouragement give you a spirit of unity among yourselves as you follow Christ Jesus, so that with one heart and mouth you may glorify the God and Father of our Lord Jesus Christ.
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RE: McCain Lies about Obama's Tax Plan - 11/3/2008 1:33:31 PM
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tafkam
Posts: 1951
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And again, name one instance in Obama's limited record where he has EVER advocated for a tax cut or break of any kind.......sorry, I'm not buying what The Messiah says..... 
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"The nine most terrifying words in the English language are, 'I'm from the government and I'm here to help.' - Ronald Reagan
Tafkam
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RE: McCain Lies about Obama's Tax Plan - 11/4/2008 9:11:47 AM
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letusreason
Posts: 869
Joined: 8/30/2008
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quote:
ORIGINAL: Evangel70
Obama's actual tax plan allow Bush tax cuts to expire, but only for the top two income tax brackets. Those would revert to pre-Bush levels, and the brackets would be adjusted if necessary to ensure that they include only individuals making more than $200,000 per year, or couples making more than $250,000. (Two percent of the population will make more than $250,000 next year).
Obama proposes a number of tax cuts for lower- and moderate-income people. According to the nonpartisan Tax Policy Center, by 2012 middle-income people (those in the middle one-fifth of all households) would get to keep an extra $2,200 per year in after-tax income on average under Obama than they do now. Under McCain, that figure would be $1,400. The top 1 percent of earners, on the other hand, would have to pay an average of $19,000 more in taxes under Obama, while under McCain they'd see their taxes cut by an average of $125,000.
Source
Sorry but Factcheck.org has it wrong. It's no wonder since the Annenberg center is in the bag for BO or did you not know that too?
FactCheck.org: The Budget Resolution Would Have Allowed Most Of The Provisions Of The 2001 And 2003 Tax Cuts To Expire, Effectively Raising Taxes On Those Making $41,500 In Total Income. "What Obama voted for was a budget resolution that would have allowed most of the provisions of the 2001 and 2003 tax cuts to expire. In particular, the resolution would allow the 25 percent tax bracket to return to its pre-2001 level of 28 percent. That bracket kicks in at $32,550 for an individual or $65,100 for a married couple. … But as those of you who have filled out a 1040 know, that's not actually how income taxes work. We don't pay taxes on our total earnings; we pay them based on our 'taxable income.' The Urban-Brookings Tax Policy Center's Eric Toder told FactCheck.org that 'people with taxable income of $32,000 would have a total income greater than that.' In 2008, anyone filing taxes with single status would be entitled to a standard deduction of $5,450, as well as a personal exemption of $3,500. So to have a taxable income high enough to reach the 25 percent bracket, an individual would need to earn at least $41,500 in total income, while a married couple would need a combined income of at least $83,000." ("The $32,000 Question," FactCheck.org, http://www.factcheck.org, 7/8/08)
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RE: McCain Lies about Obama's Tax Plan - 11/4/2008 12:45:33 PM
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Dona Nobis Pacem
Posts: 145
Joined: 5/5/2005
From: FL
Status: offline
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quote:
Those would revert to pre-Bush levels, and the brackets would be adjusted if necessary to ensure that they include only individuals making more than $200,000 per year, or couples making more than $250,000.
How do you know what numbers to use?
Last week Joe Biden said people making under $150K and Bill Richardson said those making under $120K.
How low will it go?
DNP
_____________________________
Pray the Chaplet of Divine Mercy.
For the sake of His sorrowful Passion,
Have mercy on us, and on the whole world.
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RE: McCain Lies about Obama's Tax Plan - 11/4/2008 12:52:18 PM
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rhippie
Posts: 559
Joined: 4/13/2005
From: Rich The Hippie
Status: offline
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quote:
ORIGINAL: Evangel70
Obama's actual tax plan allow Bush tax cuts to expire, but only for the top two income tax brackets. Those would revert to pre-Bush levels, and the brackets would be adjusted if necessary to ensure that they include only individuals making more than $200,000 per year, or couples making more than $250,000.
So essentially he's going to punish those that choose to get married???? If a single person can make $200K then to be eqiutable a married couple (2singles) should be able to make $400K
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Stand up for what's right....even if you're standing alone
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RE: McCain Lies about Obama's Tax Plan - 11/4/2008 12:59:27 PM
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Dona Nobis Pacem
Posts: 145
Joined: 5/5/2005
From: FL
Status: offline
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quote:
So essentially he's going to punish those that choose to get married???? If a single person can make $200K then to be eqiutable a married couple (2singles) should be able to make $400K
Welcome to the marriage penalty.
DNP
_____________________________
Pray the Chaplet of Divine Mercy.
For the sake of His sorrowful Passion,
Have mercy on us, and on the whole world.
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RE: McCain Lies about Obama's Tax Plan - 11/4/2008 3:55:09 PM
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luvmy3kids
Posts: 150
Joined: 10/26/2008
Status: offline
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quote:
ORIGINAL: letusreason
quote:
ORIGINAL: Evangel70
Obama's actual tax plan allow Bush tax cuts to expire, but only for the top two income tax brackets. Those would revert to pre-Bush levels, and the brackets would be adjusted if necessary to ensure that they include only individuals making more than $200,000 per year, or couples making more than $250,000. (Two percent of the population will make more than $250,000 next year).
Obama proposes a number of tax cuts for lower- and moderate-income people. According to the nonpartisan Tax Policy Center, by 2012 middle-income people (those in the middle one-fifth of all households) would get to keep an extra $2,200 per year in after-tax income on average under Obama than they do now. Under McCain, that figure would be $1,400. The top 1 percent of earners, on the other hand, would have to pay an average of $19,000 more in taxes under Obama, while under McCain they'd see their taxes cut by an average of $125,000.
Source
Sorry but Factcheck.org has it wrong. It's no wonder since the Annenberg center is in the bag for BO or did you not know that too?
FactCheck.org: The Budget Resolution Would Have Allowed Most Of The Provisions Of The 2001 And 2003 Tax Cuts To Expire, Effectively Raising Taxes On Those Making $41,500 In Total Income. "What Obama voted for was a budget resolution that would have allowed most of the provisions of the 2001 and 2003 tax cuts to expire. In particular, the resolution would allow the 25 percent tax bracket to return to its pre-2001 level of 28 percent. That bracket kicks in at $32,550 for an individual or $65,100 for a married couple. … But as those of you who have filled out a 1040 know, that's not actually how income taxes work. We don't pay taxes on our total earnings; we pay them based on our 'taxable income.' The Urban-Brookings Tax Policy Center's Eric Toder told FactCheck.org that 'people with taxable income of $32,000 would have a total income greater than that.' In 2008, anyone filing taxes with single status would be entitled to a standard deduction of $5,450, as well as a personal exemption of $3,500. So to have a taxable income high enough to reach the 25 percent bracket, an individual would need to earn at least $41,500 in total income, while a married couple would need a combined income of at least $83,000." ("The $32,000 Question," FactCheck.org, http://www.factcheck.org, 7/8/08)
hmmmmmmmmm then I guess all the news stations have it wrong as well and Obama himself lied...........OH yeah that is what you've been trying to tell us all along. Sorry I believe factchecker and a few of the other factchecking sites that have stated the same thing. It's what you want to believe and that is fine. We all have the right.
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Luvmy3Kids
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RE: McCain Lies about Obama's Tax Plan - 11/4/2008 3:57:01 PM
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luvmy3kids
Posts: 150
Joined: 10/26/2008
Status: offline
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quote:
ORIGINAL: rhippie
quote:
ORIGINAL: Evangel70
Obama's actual tax plan allow Bush tax cuts to expire, but only for the top two income tax brackets. Those would revert to pre-Bush levels, and the brackets would be adjusted if necessary to ensure that they include only individuals making more than $200,000 per year, or couples making more than $250,000.
So essentially he's going to punish those that choose to get married???? If a single person can make $200K then to be eqiutable a married couple (2singles) should be able to make $400K
As long as I've been voting no matter if it's a rep or dem it's been that way. Never has changed........but at the same time I've also seen Married couples perks/credits as well with both parties.
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Luvmy3Kids
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