Tax Policy: Exhibit A

**** Research for yourself and spread the word ***** Next I will compare their Healthcare policies.....



While they are busy distracting the masses from the real ISSUES, here are the numbers to show the differences with the candidate's tax policies. I can't stand to see them turning this campaign into a debate about gender, race, or even worse, lipstick. AGAIN!!!!!!!!!!!!!!!!!!!!!!!!

Where was the outrage before we sent our men and women to fight an unprovoked war, which is costing the American tax payer over $1Billion dollars a month? Where was the outrage when Katrina hit New Orleans, when our veterans come home damaged mentally, physically, and unable to find employment? Where is the outrage when CEO's leave firms with enormous severance packages, only to see the Co. fail a short time thereafter, leaving shareholders and retirement funds devastated? ENOUGH with the fake outrage!!!!!!!!!!!!!!

The conservatives loathe giving tax breaks to the lower classes, but when a majority of the population's disposable income rises, guess what, businesses flourish, people $pend more, and EVERYONE benefits. What a novel idea. Sound elitist to you?? Not unless you're ignorant, and don't realize that it is an Elitist attempting to sway you into voting against your own interests, while millions continue to lose their jobs to overseas markets, the cost of living continues to skyrocket, our bridges/roads/or infrastructure as a whole, continues to crumble, healthcare costs are ridiculous, and THEY KEEP BAILING OUT WALL STREET WITHOUT BATTING AN EYELASH.

Why do you think so many rich people are supporting Obama. They know their welfare is contingent on consumption. If people cannot afford to spend, their bottom lines are decimated, and their ability to post profits is severely impacted, negatively. See the graph below for yourself, and you do the math. What percentage of the working population is in the $0-$112K income bracket, and, what is the quintessential difference in approach by the two candidates? I think it's obvious, one is for ALL PEOPLE, and the other serves the privileged. But see for yourself, the choice is yours. We cannot afford more of the same, vote Obama not McCain.........

Sincerely,
Blaq Ops


***Source: CNN - Anderson Cooper 360

What they'll do to your tax bill

McCain and Obama want to change the bottom-line effects of the tax code. Here's a dollars-and-cents breakdown of what their plans could mean for you.


BREAKING DOWN THE NUMBERS

Here's how the average tax bill could change in 2009 if either John McCain's or Barack Obama's tax proposals were fully in place.

BREAKING DOWN THE NUMBERS
Here's how the average tax bill could change in 2009 if either John McCain's or Barack Obama's tax proposals were fully in place.


MCCAIN OBAMA
Income Avg. tax bill Avg. tax bill
Over $2.9M -$269,364 +$701,885
$603K and up -$45,361 +$115,974
$227K-$603K -$7,871 +$12
$161K-$227K -$4,380 -$2,789
$112K-$161K -$2,614 -$2,204
$66K-$112K -$1,009 -$1,290
$38K-$66K -$319 -$1,042
$19K-$38K -$113 -$892
Under $19K -$19 -$567


Source:The Tax Policy Center


Taxes: McCain vs. Obama

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NEW YORK (CNNMoney.com) -- John McCain and Barack Obama have starkly different philosophies about tax policy - how to raise the revenue needed to support government programs, spur growth and ensure economic fairness.

But voters really want to know one thing: How would the presidential candidates' views trickle down to their tax bills? A report released Wednesday by a nonpartisan policy group in Washington, D.C., takes a big first step toward answering that question.

According to the Tax Policy Center's findings, the common assumptions most people make about the plans of McCain, the presumptive Republican nominee, and Obama, the Democrats' pick, are not wildly off-base.

McCain: The average taxpayer in every income group would see a lower tax bill, but high-income taxpayers would benefit more than everyone else.

Obama: High-income taxpayers would pay more in taxes, while everyone else's tax bill would be reduced. Those who benefit the most - in terms of reducing their taxes as a percentage of after-tax income - are in the lowest income groups.

Under both plans, all American taxpayers could pay a price for their tax cuts: a bigger deficit. The Tax Policy Center estimates that over 10 years, McCain's tax proposals could increase the national debt by as much as $4.5 trillion with interest, while Obama's could add as much as $3.3 trillion.


A closer look

But those in the lowest income groups would only see their after-tax income rise by less than 1% (or between $19 and $319). By contrast, the highest-income households - those with incomes of at least $603,000 - would see a boost in after-tax income of 3.4%, or more than $40,000.

Obama's plan would keep the 2001 and 2003 tax cuts in place for everyone except those making more than roughly $250,000, and he would increase the capital gains tax.

Obama would also introduce new tax breaks for lower and middle-income groups. Such breaks include expanding the earned income tax credit, giving those making less than $150,000 a $500 tax credit per person on the first $8,100 in income, giving those making under $75,000 a 50% federal match on the first $1,000 of savings, and exempting seniors making less than $50,000 from having to pay income tax.

Like McCain, Obama would lessen the bite of the estate tax and the Alternative Minimum Tax, but to a lesser degree.

The net result: compared with their tax bill today, taxpayers on average would see their tax bill cut by nearly $160 under Obama's plan. That means their after-tax income would rise by 0.3%.

But those in the lowest-income groups would enjoy the biggest after-tax income rise as a percentage of income - between 2.4% and 5.5% (worth between $567 and $1,042). By contrast, the highest-income households - those with at least $603,000 in income - would see a dramatic decline in their after-tax income - a drop of 8.7%, or $116,000.

The campaigns respond

Jason Furman, a newly appointed senior economic adviser to Obama, said his preliminary response is that the report's findings bear out what Obama's campaign has been saying: that he's for the middle class.

"Middle-class families get tax cuts that are three times larger from Obama than from McCain," Furman said. "And the McCain plan gives nearly one-quarter of its benefits to households making more than $2.8 million annually - the top 0.1%."


First Published: June 11, 2008: 10:31 AM EDT

The economy: McCain vs. Obama