Want higher taxes? Vote Obama?

[Guest]

Barack's solution to everything is more and higher taxes. Example he wants to tax oil companies 8% on their profits,tax people more on stocks, bonds, pensions, and tax more on people who make over 200,000 combined income. John Mccain always says no more taxes and has solutions and problems. Compare websites Obama is just another tax and spend democrat raising taxes. Also to Chicago has the highest county sales tax in the USA, that's were Obama is from.<br />

 

[martinx07]

Want less freedom? Vote McCain.

 

[mike]

Yes, Obama wants to tax us all to death to pay for his social programs. If you're not voting for him, it's the biggest reason to not vote for him. If you are voting for him, it's the main thing you have to rationalize.

We all know that. Can we move on now?

 

[Hoffination]

Well if you don't want any government organized and funded buildings then what the hell I can't change your opinion about voting for McCain. But hey look at Sweden they have the second highest taxed country in the world and look at what it has gotten them. FREE EDUCATION!!! I wish we had that here because if our taxes get any lower I'm never going to go to college!

 

[Guest]

ARE YOU UNDER THE DELUSION THAT REPUBLICANS WON'T RAISE TAXES. HOW ARE WE GOING TO PAY FOR THIS MASSIVE DEBT THAT WE OWE OUR COMMUNIST BRETHREN. SOCIAL SECURITY PAYMENTS TO THE BABY BOOMERS ARE GOING TO BLOW OUR BUDGETS OUT OF THE WATER. DON'T GIVE THAT JIVE ABOUT TRICKLE DOWN. DEMOCRATS AND REPUBLICANS AND ANY OTHER PARTY IN POWER ARE GOING TO REVISE THE ENTIRE TAX STRUCTURE AND RAID THE BASE.

 

[AnonY]

According to the Tax Policy Institute, a non-partisan organization that specializes in analyzing the consequences of various tax proposals, many of your statements are incorrect. Specifically, they draw the following conclusions about the two candidates' respective tax plans"Measured against current law in 2009, Senator Obama?s plan raises after-tax incomes by 5.5 percent for those in the bottom quintile and also provides more modest increases for those in the next three quintiles. The top quintile would experience an average tax increase because of the hikes in the tax rates on capital gains and the increases in the top two individual income tax rates. The increase in taxes would be dramatic for those at the very top of the income scale, representing 7 percent of after-tax income for the top 1 percent of households and 8.9 percent of income for the richest 1 in 1,000.

In contrast, the McCain plan would provide virtually no benefit to households in the bottom quintile, and very modest benefits to those in the next three quintiles. The top quintile would receive a tax cut of more than 3 percent of after-tax income. Within the top quintile, the richest 1 percent of households would receive an average tax cut of 3.7 percent. That figure rises to almost 4.7 percent for the top 0.1 percent of the income distribution."

These conclusions make it very clear that the true difference between the candidates' plans is that McCain wants to reduce taxes only on upper-income taxpayers, while Obama wants to reduce taxes on middle- and lower-income taxpayers.

Please read the report for yourself.

 

[AndrewC]

wow, this question just shows political ignorance at its best. if it wasn't for his all caps, ROBERT would have had an incredibly logical solution.

kudos to ROBERT for a great answer, but seriously, lay off the caps lock.

 

[Colbert08]

Don't forget to inflate your tires!


and to the one who said more war with Mc Cain He will keep it in their back yard not yours, unless you live in the middle of no where and never use airlines, busses or subways, I prefer to keep it in their backyard thank you.

 

[jcpnum4greenattnet]

I would like to say to the government? we don?t need no stinking taxes? and when are you going to thanks me for paying your crappy taxes ?

McCane 2008// RIght on Right on.

 

[DarlingJ]

Sorry, but you don't have the right facts

FACT Both Obama and McCain would continue to exempt the first $250,000 of gain from the sale of a primary residence ($500,000 for a married couple filing jointly) which results in zero tax on all but a very few home sales.

FACT Dividends currently are taxed at a top rate of 15 percent, and Obama would raise that to the same rate as he would tax capital gains, somewhere between 20 percent and 28 percent but likely "significantly" lower than 28 percent. This higher tax also would fall only on couples making $250,000 or more or singles making more than $200,000.

FACT Raising tax rates on capital gains or dividends would not result in higher taxes on any investments held in Individual Retirement Accounts or in popular, tax-deferred "college funds" under section 529 of the Internal Revenue Code. The whole point of such tax-deferred plans is that dividends and capital gains are allowed to accumulate and compound tax-free, and neither Obama nor McCain proposes to change that. And as previously mentioned, any capital gains or dividend income from stocks, bonds or mutual funds owned outside of tax-deferred accounts would continue to be taxed at current rates except for couples making over $250,000, or singles making more than $200,000.

FACT McCain and Obama both would retain a reduced version of the estate tax, as it is correctly called, though McCain would reduce it by more.

FACT Obama favors raising the top rate on capital gains from its present 15 percent to 20 percent or more, but no higher than 28 percent. And as for a 28 percent rate, he added, "my guess would be it would be significantly lower than that." Furthermore, he has said only couples making $250,000 or more (or, his policy advisers tell us, singles making more than $200,000) would pay the higher capital gains rate. That means the large majority of persons who pay capital gains taxes would see no increase at all.

FACT Taxes under Obama will NOT "double."

As for the Windfall Profits Tax, it was also done in 1980.

I hope that helps!