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Sugarlee

Why do so many people not understand that Obama WILL actually double EVERYONE'S TAXES?

It is simple economics people. Obama wants to raise Cap. Gains tax from the current 15 percent up to 35 percent, raise Estate (Death) Tax up to 45 percent, raise Corporate taxes from 35 percent to 38 percent, raise tax rate on individuals and small businesses that earn over 250k by additional 5.7 percent, raise taxes on oil and gas companies by 15 percent. Obama will only lower individual income taxes on people earning less than 250k by increasing the standard tax deduction by 1500 dollars which equates to about 400 dollars saved after you complete the forms. Everyone who sells a home or buys fuel or consumer goods will pay 3 times that tax deduction in increased prices on goods and cap gains . If you die, your dependents will pay 3 times the current tax rate on your estate. McCain offers lowering Cap Gains from 15 down to 7.5 percent and Death Tax down to 15 percent while raising Estate level to 5 million for that tax. READ THEIR PLANS! Their is a reason Obama does not talk specifics!
Sugarlee:

The over 250k individual tax policy is misleading when Obama tells it as well. That is not truely individual tax, if you file a married/joint return with combined earnings over 250k your taxes will be increased, it is actually 200k for true individual tax increase. Obama also proposes a cap-and-trade policy on energy producers that will increase the costs of electricity and natural gas sales and Obama wants to levy those same policies on every one of the alternative energy programs that both parties are seeking. We will all see major increases in out of pocketcosts associated with Obama's tax policies. He wants to raise ALL of our taxes by doing it in a round-about-kinda-way by claiming that he is not raising YOUR taxes, just THEIR taxes. In the end, WE ALL PAY.

Russ:

that is the extension of the AMT, which only comes to play if you have large itemized deductions...as Tax accountant, I know these things.

Svwhu:

How can you possible think that this country can afford to give the richest, another 10% tax cut?

Sugarlee:

Where did you get that uninsiteful. Sure McCain does not want to increase their tax burden from its current 35 percent, but he does not want to cut it, he wants to cut capitol gains tax and estate tax, but he wants to cut that for all of us. I see from the Obamamaniacs posting here so far on this subject still can't read and cannot understand that Obama's proposals WILL cost everyone across the board.

Svwhu:

Oh, excuse me. It is the corpaorate tax rate he is going to cut by 10%, my mistake!

Sugarlee:

Yeah, and that would not be a bad idea. It would keep consumer prices more stable rather than passing the increases on to the consumers. Obama would rather tax them more and have us pay the taxes through price increases for goods and services.

Rhalovely:

Obama is like an old fashioned faith healer selling "snake oil". He talks a good game, with double speak and slight of hand tactics. His tax plan is all smoke and mirrors, and he will double taxes on Americans... Small business owners and their employees, will pay the price, with job loss and business loss. Raising taxes in this economy, is financial and political suicide! The truth will reveal itself, "if" he is elected...

Pisces_26:

As an independent voter. Who is not voting for McCain It is very funny that the party that always talks about patriotism and who is patriotic, who had on a flag pin, who is a terrorist. Don’t want to pay the taxes to keep the country running. We have spent more money in the last eight years then we have ever spent before with less coming in. I don’t mind paying higher taxes if it keeps my Country stable and in working order. Not wanting to pay for the up keep of your nation and nation’s people seems to be very unpatriotic.

Sugarlee:

I agree to a point Thor, but government should downsize and spend less first. Taxation increases should be a last resort, not a fix all. They get more than enough in tax collection now but continue to spend more and more. Obama has proposed over 800 billion dollars in ADDITIONAL spending in his first term, he should propose 800 billion in cuts rather than spending then he would not have to increase any taxes. McCain proposes 597 billion dollars in additional spending and will leave most tax brackets alone which is not by any means good, but it is still better than Obama.

Svwhu:

I completely agree with you Thor. Here is a comparisons of Obama's and McCain's plans.

http://www.coedmagazine.com/news-ish/Getting-In/Money/12643
Quote:" What may come as a surprise is that, while McCain cuts more taxes across the board, Obama gives the highest tax cuts to those making the least, and raises taxes only of people making more than $600,000/year.?
It’s not hard to see that both candidates have been honest and clear about their proposals. What may come as a surprise is that, while McCain cuts more taxes across the board, Obama gives the highest tax cuts to those making the least, and raises taxes only of people making more than $600,000/year.
I don’t know about you, but I can’t even imagine what $600,000 looks like, let alone having that as my annual beer-drinking budget. But what about you?
I don’t know about you, but I can’t even imagine what $600 looks like, let alone having that as my annual beer-drinking budget. But what about you?"

Svwhu:

http://money.cnn.com/2008/06/11/news/economy/candidates_taxproposals_t​pc/?postversion=2008061113
This article is also a good break down and shows how each will have effect on the deficit.

Michelle:

The same reason that you don't understand the others point of view. You have your choice to make and they do also. One who's called an independent thinker would surely realize the worth of another viewpoint ... right?

Sugarlee:

????? And your statement has what to do with these tax policies and/or how much it will cost every American..

Michelle:

It has to do with the fact that you're screaming about your opinion and have nothing on the side of what you're screaming about.
Choose your candidate and let the rest of the world do the same, in peace, without your hateful rants... that's all, really...
Your opinion matters only to you. Have a super weekend, IT : )

Russ:

double? i do not think that will happen...

Sugarlee:

russ, He is not proposing it as a direct income tax. It is simply his proposals on taxation of capitol gains, corporations, energy producers and suppliers and oil companies that in turn will pass those costs on to consumers that we will ALL see increases. Just because he does not propose to increase every individual income tax bracket does not mean that his other tax policies do not get paid for by us all.

Russ:

we need a through examination of ALL tax policies, be they federal or the real lurker in the darkness, state and local taxation...and, oh, boy, do i know that.

Sugarlee:

TRUE

Mimi:

Boy does McCain's lies fly around here.

Sugarlee:

I do not like mcCain or Obama, but if you actually read their tax proposals McCain has less impact on our wallets. McCain's proposals hurt us all directly because of his individual tax policies. Obama hurts us all MORE because of his round-about tax policies that come back in increased rates for goods and services as well as capitol gains and death taxation.

.......:

Hello Cayman Islands and off-shore banks. Goodbye US investments.

Svwhu:

Country First, what a joke! Why don't you take yourself off shore along with your money. You want to live in this country but let future generations pay for your excesses. Give your life for your country? You can't even give your money, let alone your life!!!!!!!!!!!

Svwhu:

Face it people, Taxes have to go up because look at what is happening to this country. George Bush let everyone go on a tax holiday and then charge the countries credit card to the max. It is time to pay for Georgies failed policies and his war in Iraq as well as his bailout!

Sugarlee:

Yes insiteful, we do have to pay some, but should not pay all that Obama will charge. We should not have to pay for everything that an Obama government wants to impose on us. We should not have to pay everyones healthcare and shortcomings that an Obama government will pick up the tab for at our expense. Yes Bush screwed the pooch, but Obama will spend ten times what Bush did and the bailout was the Democrats led by Senator Dodd, who along with Obama got sub-prime mortgages at below market level rates from banks that they are now bailing out, not Bush. Bush sucks, McCain sucks AND OBAMA sucks, but Obama wants to suck more of our money to fund his government run and mandated programs than McCain does and all of you Obama maniacs cannot give one single intelligent and true rebuttal to that, just the same old Obama is just better ruses because you do not even know your own candidates true proposals- you just go off what he says that day even though he gives no specifics just a good talker.

Svwhu:

I just disagree. I am so tired of people like you, saying that because someone supports Obama then they are stupid or uninformed. You really think that approach is going to change anyone's mind? You feel you should not have to pay more. Fair enough, you have a right to your view and we have a right to disagree without being called stupid and uninformed. Your blaming Obama for the subprime mortgage mess just makes you not credible. I have seen break down of both of their proposals and Mccain's will add more dollars to the deficit. He wants to give tax breaks this country can not afford and personally I would give up my tax break from Obama, if it meant health care for everyone. I can't understand why people care more about their money then they do about this country and the people in it. There should not be any poverty in this country and it is not just lazy people!

PAM:

ok I can live with the rich getting socked in the egg sack fine.

Frog:

On average, Obama's tax plan will provide a 0.3% reduction in the gross tax rate paid by everyone. When you break it down into quintiles, the bottom quintile will see a 5.5% decrease, the next highest will see a 3.6% decrease, the next highest will see a 2.4% decrease, the next highest will see a 1.8% decrease, and the highest will see a 2.0% increase. Obama's plan also has the advantage of causing less of an increase in the national debt when compared to McCain's plan. So as you can see independent thinker, Obama will infact lower taxes for most people.

http://www.taxpolicycenter.org/UploadedPDF/411693_CandidateTaxPlans.pd​f

Sugarlee:

I DID say that Obama was offering better individual tax breaks. It is the tax increases and size of such on corporations, oil companies, capitol gains, estate taxes, energy producers and small businesses earning over 250k/year and the passing on to consumers in the price increases that will follow that I am talking about. It is also his ADDITIONAL 800 billion dollars in new spending that I am talking about. His individual tax rate cuts will be worse than a wash, we will pay more for everything from oil, fuel, electricity, natural gas, groceries, consumer products, insurance, education expenses, etc. even more than the normal rate of inflation on those things because those industries will pass on their added expenses in the form of higher costs.

Frog:

That's not what you said, you provided a calculus showing how Obama would raise taxes. Your information was inaccurate. You weren't talking about costs.

Sugarlee:

"It is the tax increases and size of such on corporations, oil companies, capitol gains, estate taxes, energy producers and small businesses earning over 250k/year and the passing on to consumers in the price increases that will follow that I am talking about".

Frog:

Ohhhh. Ok, I see what you're saying. It is a possibility but remember that this is a pretty recent assumption based on trickle down economics. And that economic model really has fared poorly over the past 20 years, it's predictions have not fit well with actual outcomes. One of the biggest problems is that companies don't really reinvest tax breaks anymore.

Raerae186:

I don't know why people can't see the big picture here but I know that Obama will double everyone's taxes and that is just the beginning of things he is going to do with his so called " change". Put your seatbelts on you are going to need them.

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