scholars and rogues

Can you Digg an Obama tax cut?

Now this is truth that needs telling.

Even though Obama’s tax plan would cut taxes for 95 percent of Americans, polls show that more than half — 53 percent — believe John McCain when he says a vote for Obama is a vote to raise taxes. Unless you’re in that lofty top 5 percent, you’re in for a break. How much? Go here to have yours instantly figured out, using computation by the non-partisan Tax Policy Center.

Once you’re there, take a look at the graphs that show exactly who will get what benefits under an Obama vs. a McCain administration (you’ll need to click the link that shows how your result was calculated).  It’s clear whose pockets the McCain campaign is in.

And while you’re at it, be sure to Digg the site — — so the McCain operatives can’t squelch it. A link is available when you get there.

Categories: scholars and rogues

4 replies »

  1. While i am staunchly for the lowest taxes possible (which would necessitate a small, efficient government that doesn’t spend $1T/year on the military), i simply don’t understand how America can afford to lower taxes. We’re already borrowing at an insane rate…hasn’t Congress raised its own credit limit several times recently?

    I’m no economist, but what i read suggests that our issues are both fundamental and systemic. Yet i hear nothing from either candidate about how to address these issues.

    Russ Wellen is right, politicians need to stop treating the voter like a consumer.

    As an aside, The Economist had an article recently that discussed financial trouble at the FDIC in relation to the expected failings of a number of banks. The FDIC doesn’t have the capital to back the deposits, so they want to charge banks more for the insurance…except that the banks are undercapitalized too, and those most at risk can’t afford the insurance rate hike at all. (that’s what i mean by fundamental and systemic)

  2. I’m with you on this one, Lex. I don’t see how we’re going to handle the problems we’ve got without holding existing tax rates on the poor and middle class and boosting taxes on the wealthy. And probably cutting some spending too, although with our economy flaming out, crashing, and burning, we may need a new debt-financed New Deal.

    Hell, there’s a chance that my own tax rate will go up under and Obama presidency, especially if he reduces the amount of mortgage interest and principle I can deduct. But I’m still voting for Obama. I suspect that my own personal economic prosperity will be far, far better under Obama than under McCain.

  3. It is to my understanding that the tax break for the very wealthy , issued under the Bush administration will be repealed, and the money from that will be given as a tax cut to the middle class. Who knows now, after our latest 700 billion expenditure to bail out the fat boys at the top….again.

  4. The tax plans are an issue that is a major deciding factor for choosing the next president. Military expenditures should necessarily be cut down, the proceeds being passed on to the people.