Obama’s Tax Plan Will Lower Your Taxes

McCain either has not read Obama’s tax plan, does not understand it or he is purposly misleading the American public. Obama’s tax plan clearly states that he intends to lower taxes. You can even calculate how much of tax cut you will get on his homepage. Even the independent “Tax Policy Center” has calculated that Obama’s plans will reduce the taxes payed. McCain wants the voters to think otherwise. His statements, though are false.

His tax plan states that middle class families will receive $1000 in tax relief. This is backed up by an analysis done by the “Tax Policy Center”. It states that, “Measured against this alternative baseline, middle-income households would receive an average tax cut of 2.2 percent of income or $1,035”. The temporary tax cuts made by the Bush administration to the upper class will not be renewed. Okay this can be considered raising taxes. They will have to pay more taxes, but they will not have a higher tax rate, though, than they did in the 1990s. This is necessary in order to control deficits, which by the way, the McCain tax plan does not do. His plan will cause deficits, which are already staggeringly high, to increase more.

As far as spreading the wealth. Both candidates propose spreading the wealth. Any tax system that is progressive is aimed at redistributing from high incomes. Socialism and Marxism are something completely different. They involve getting rid of private ownership and having governments administrate the means of production as well as the distribution of goods[1]. Of course it does not surprise me that Palin gets this wrong.

So for those worried about voting for Obama because of what false statements made by McCain and Palin, Obama’s plan will most likely lower your taxes.

[1] http://www.merriam-webster.com/dictionary/socialism

Be Sociable, Share!