Run down of tax plans from Obama & McCain
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Stumble ThisThe full report is available here.
The report comes from the Brookings Institute, a conservative-leaning think tank.
The report comes from the Brookings Institute, a conservative-leaning think tank.
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barack obama,john mccain,tax plan,cnn,veracifier,tpm Run down of tax plans from Obama & McCain
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As an aside, The pres has no say on taxation, only spending, by submitting a budget. Why are presidents supposed to have taxation schemes, when that is the job of the legislature?
And what happens if you're making between 161k and 2.9m?
I updated the summary to include the link to the full report.
If I recall correctly, that range contains the crossover from net reduction, to net increase. When all people in that range are averaged together, it ends up being a very slight reduction. However, that's balancing a relatively large number of people in the $180,000-ish range who get a fairly substantive tax cut, with a smaller number people who get over $500,000 who get a pretty big tax hike.
The Obama talking point is that the changeover is designed to happen at $250,000/yr income, which seems borne out by this report.
Only if you get all your information from the Republican party, lady.
always good to see the media clarifying and reporting on substantive issues. that's real journalism folks!
It's closer than we're used to but not quite real journalism, it just seemed so because of what we've got to compare it to these days. Real journalism might have drawn a sharp difference between expiring temporary breaks Bush and a complicit congress gave the rich and actual new taxes rather than trying to paint the expiration what was a temp measure as a new tax. That's the biggest part of that jump for the rich, not new taxes or "going after" anyone as she said at 1:40 or so.
>> And what happens if you're making between 161k and 2.9m?
Unfortunately, you are killed by roving death squads.
And what happens if you're making between 161k and 2.9m?
>> ^NetRunner:
I updated the summary to include the link to the full report.
Thanks! I'll check it out.
What the hell does that mean for me? I'm poverty stricken? I make way less than that!
Right now I'm sitting in my apartment ($385/month) at my desktop (2001 Compaq) after just riding my bike ($300) to a wedding where I gave the bride and groom some framed photographs of themselves ($5).
... hold the phone... I AM poor! When did this happen?
They don't even bother to ask which money McCain is not going to spend in order to give EVERYONE a tax break.
The days are long gone that the Republicans can play the "we are going to cut spending" card. They've been in charge of Congress more or less since 1994 and have out spent the Democrats...and that's not even counting the "trillions" spent off the budget on Iraq.
Wait - low income starts at $33k?!?!
What the hell does that mean for me? I'm poverty stricken? I make way less than that!
National averages I guess. I make a decent amount more but because of cost of living of where I live(ie, I couldn't get a room to rent below $750/month). I think that number comes from a national average that incorporates cost of living adjustments.
Look we got a restraining order, if we see you at our bedroom window again with a camera I don't know whats going to happen.
http://en.wikipedia.org/wiki/Personal_income_in_the_United_States