Massive bailouts, foreclosed homes, jaw-dropping gas prices, chaos on Wall Street. These are just a few signs of the U.S.'s struggling economy. As America enters the next chapter of its history, what impact will an Obama administration have on our economic future?
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I agree with this objection. It's silly for the McCain campaign to pretend that one of his selling points is his awesome middle class tax cut. It's Obama who proposes a meaningful change in tax policy for the middle class, while McCain would actually do most of his tax cutting for the wealthiest. The fact that they've attempted to present this point here just underscores how important and successful the Obama plan is.
By the way, nice use of the phrase "restoring fairness and balance."
- thoughtcounts Z
September 4, 2008 3:29PM
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I'm sure Barry is upset that his fine rhetoric is on loan, but he should remember that he borrowed it from Jimmy Carter and Walter Mondale! The rhetoric is not the issue.
We are looking for proposals that will work. Barry's socialist "spread the wealth around" ideas have flunked all over the world for the last 60 years! Remember the misery index in 1978? Carter's "spread the wealth around" ideas created a misery index twice as high as today!
Speaking of rhetoric, how do you call sending a $500 check to 35% of the workers who pay NO taxes "Tax Relief"? I call it buying votes!
When you create real competition in the marketplace, tax cuts for corporations do wonerful things for the middle class. With the extra cash, corporations hire more workers (more JOBS for the middle class!), and reduce prices! When you increase taxes on corporations they do two terrible things for the middle class. They move to a country with lower taxes (LESS jobs for the middle class), and raise prices!
The best relief we could get is more jobs and cheaper prices. Barry's tax plan is guaranteed LESS jobs and HIGHER prices
- ScottyNow October 19, 2008 2:56PM
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I was a democrat for a while and want change in Washington more than anyone, but I got to admit I have some serious concerns with Obama. As an economist/engineer, I have to agree with Romney if we want a strong economy we need an environment that will let the businesses in America operate more efficiently without the government tying their hands. Obama’s tax plan will be disastrous to the job market as history has shown in the past. I see over-regulation causing businesses to close all the time. I had to close a business myself and layoff 8 employees. We need to examine the issues closer. I really believe the McCain/Palin ticket will significantly improve things in Washington and they have a record of doing so in the past. This just is not the time to risk our country with someone who in some 47 years never demonstrated he can change anything in a positive way. Obama is a wonderful speaker but his job will affect our future for years. My 401Ks have taken a nose dive ever since we got control of the Senate and House a year of two ago. Out of curiousity I researched the fact and discovered that democrats on average have actually voted with Bush over 90% of the time, so I think our argument of 4 more of the same just doesn’t hold water. I’m changing my vote to republican at least for this term and going with someone I can trust has the people of America first, not someone who has some very disturbing terrorist ties. I’ve come to admit that McCain and Palin are the better choice this year and plan to back them in this election.
- rickkarine September 5, 2008 8:59AM
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Side: John McCain
Everyone really needs to understand any corporate tax cut IS a tax cut for taxpayors. Corporations collect their taxes (and state and federal taxes as well) from taxpayors in the cost of goods (COG) and sales tax. Reduce the corporate taxes and we pay less AND that is an across the board cut for all taxpayors.
Obama should understand this, I'm surprised he does not.
- bobberaaaaa October 18, 2008 12:37PM
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How is a tax cut "spending"? There's that "spread the wealth around" mindset again! Barry and his "spread the wealth around" buddies really think our money is theirs! A tax cut should keep them from spending money on their worthless "spread the wealth around" programs, but it hasn't!
Challenge: Name one socialist "spread the wealth around" program that made anyone other than a politician rich?
Let's see...Social Security. We put in 15% per year for 50 years and then get poverty benefits for 5 years, but it's bankrupt! Were did all our wealth go?
Hmmm...Welfare. We have to choose between inner city baby mills and abortionS.
Education? The more they spend, the worse it gets.
Housing? Barry is opulently rich, and so is his his HUD Developer friend Tony Rezco! But the South Side of Chicago is still as poor as ever!
These "spread the wealth around" politicians skim off their kickbacks first, then they build a bloated bureaucracy. Abracadabra...the taxes we paid are spent and the poor are still poor. Then they come back and say, "The rich have gotten richer and the poor have gotten poorer! We need to spread MORE of your wealth around!"
No thanks! The best way to gather wealth is a JOB!
- ScottyNow October 19, 2008 2:39PM
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Cutting Taxes for the Middle Class
- From McCain Campaign
By McCain Campaign - Taylor Griffin, Senior Advisor
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Lower Taxes and Spending
The Federal Government is an extremely inefficient poorly run organization. I laugh when Tax cuts are referred to as costing the government money. Tax cuts cost the Government nothing. They reduce government income, two totally different things. Tax cuts also stimulate spending which stimulates the economy which helps to offset the reduction in tax revenue. I propose that every Tax cut is balanced by a comparable cut in government spending. I also propose that the income tax be eliminated and replaced by a universal sales tax on everything but food and basics. That is completely fair as those who spend more pay higher taxes. The ones who spend the most are the ones with the the most money. This would also allow for a great reduction in the IRS which in itself would save money.
- tbcass
July 26, 2008 3:53AM
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Side: Uncommitted
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Diminishing marginal returns
Why do you think that spending more money makes you deserve to owe more taxes? It seems to me that taxes should be levied proportionally to ability to pay them. It's true that a sales tax means that those who spend more pay more in taxes, but that doesn't make it right.
It also neglects an important aspect of money: diminishing marginal returns. An additional dollar is worth a lot less to someone who already owns three yachts than it would mean to someone who is struggling to feed their children. You are off to a good start by allowing for no taxes on "food and basics," but determining actually what constitutes "basics" is a tricky question, and it means that whatever a committee decided isn't one of the "basics" necessary for survival isn't something that lower-income people deserve to have a chance at. Additionally, you'd need to raise sales taxes sky-high to compensate for the loss of all income tax plus all sales taxes paid on food and whatever the "basics" turn out to be.
- thoughtcounts Z
September 4, 2008 3:25PM
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Side: Barack Obama
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Deserve
I never said anybody deserved anything. People with greater income spend more money and that's a simple fact. It's 6 of 1 or 1/2 doz of the other. You pay your taxes before your paycheck or after, no matter. Is the system perfect? No, but it's a far better plan than the income tax. At least people would have some control over the amount of taxes they pay. As far as the amount of tax, it wouldn't be any different than it is now just collected differently. It also would eliminate tax shelters which are used by the wealthiest of tax payers.
- tbcass
September 5, 2008 3:11AM
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Just toss the IRS away!
Instead of dealing with the current mess of laws on the books over at the IRS, why not just scrap the whole flippin' system & START FRESH!! Make the tax laws simply enough that most 5th graders could figure out taxes! Do away with all of the special interest groups that get all these tax breaks that I as a normal TAX PAYING American do NOT get because I'm not important enough to be a part of those groups. I prefer Sen. McCain's proposals over Sen. Obama's for the sheer fact that his is a genuine tax cut for middle America & not a "let 'er ride until we can get away with raisin' 'em" policy.
- husker mama October 17, 2008 1:21PM
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Side: John McCain
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