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Question about Obama's view on the Bush tax cuts.

Discussion in 'Political Discussion' started by cupofjoe1962, Sep 13, 2008.

  1. cupofjoe1962

    cupofjoe1962 Rookie

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    This is a question and I appreciate any feedback in advance.

    I have heard Obama mention that he plans on cutting taxes for 90% of Americans.

    I have also heard him say that he plans on raising the capital gains tax and
    raising max income tax back to 39.6 percent.

    What about the other rates that are going to expire at the end of 2010?

    Replacing the current tax rates of 15, 28, 31, 36, and 39.6 percent with a simplified rate structure of 10, 15, 25, and 33 percent

    Is he going to keep the other rates Bush set, or is he going to let them all
    expire at the end of 2010?
    Last edited: Sep 13, 2008
  2. Patsfanin Philly

    Patsfanin Philly Rookie

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    #95 Jersey


    http://www.thaindian.com/newsportal...attacks-mccain-with-two-new-ads_10095354.html

    .
    >>>>>Obama focused on his tax plan, which offers sizable breaks to middle-income families, while raising taxes on families earning more than 250,000 dollars.
    He said McCain has been “simply dishonest” about that plan, asserting repeatedly that an Obama administration would raise everyone’’s taxes.
    “I will make a firm pledge: I pledge under my plan, no one making less than 250,000 dollars a year will see any type of tax increase, not income tax, not capital gains taxes, not any kind of taxes,” Obama said.<<<<<<

    If he deviates from that even one iota, I can envision this being a "read my lips, no new taxes" moment either in this campaign or in 2012 if he's elected and reneges on it....
  3. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Obama will not support continuing the Bush tax cuts, ie he is going to allow taxes to rise, IOW he is lying.
  4. PatsFanInMaine

    PatsFanInMaine Rookie

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    Joe Biden has stated that he would let all the tax cuts for the middle class expire.
    Last edited: Sep 13, 2008
  5. cupofjoe1962

    cupofjoe1962 Rookie

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    That is what I was worried about.

    McCain now says he wants the bush tax cuts permanant.
    This is a flip flop, but one l like.

    I don't want to pay an additional 3% in income tax.
  6. Michael

    Michael Moderator Staff Member PatsFans.com Supporter

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    #12 Jersey

    Since he'll only be a senator then I wouldn't worry about it.
  7. PatsFanInMaine

    PatsFanInMaine Rookie

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    Just 3 months ago Obama voted twice in favor of the Democrats FY 2009 budget proposal that would raise taxes on all incomes above $42,000. If Obama is so adamant about not raising taxes why did he vote for this? Would this not of been a perfect time for Obama to "reach across the aisle" and vote against his party on an issue he does not agree with?
  8. Michael

    Michael Moderator Staff Member PatsFans.com Supporter

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    #12 Jersey

    If Bushy Sr couldn't keep his word about not raising taxes what chance do we have with Obama?
  9. PatsFanInVa

    PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    Focusing on the Obama vs. McCain tax proposals, you'll see Obama's are more generous by far if you make up to the 120s, the two are very similar between the 120s and 250, and McCain is more generous to those making over 250,000.

    So find your income on that continuum, and vote your wallet, unless you're blinded by ideology. I do understand that if you make 250,000 or more, it is just fine that you vote your interest, and choose McCain.

    As for the argument that jobs will go away because the wealthy pay an amount APPROACHING the historical marginal rates they have paid since there WAS an income tax, why is it that, in reality, we have an economic miasma in the only period of American history in which we have treated the marginal rate of the very wealthy as if it should be a very slight bump above the marginal tax rate paid by the middle class?

    The spend-and-spend policies of the last eight years are a failed policy. Someone needs to pony up. I vote for rich guys.

    But, if you are heartbroken about corporate executives not being able to buy another yacht, or about McCain and wife having to cut back to only five houses or something of the sort, by all means vote your ideology.

    PFnV
  10. PatsFanInEaglesLand

    PatsFanInEaglesLand Rookie

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    #37 Jersey

    I just looked at both tax plans and between my wife and I we make less than 120k, but with Obama's plan will will pay $1200 a year more than we do now, can you explain were you got your information from?

    I mean I wouldn't really care if my wife was given a 300k a year job, just for being my wife, but I don't really see that happening.
  11. PatsFanInMaine

    PatsFanInMaine Rookie

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    But why did he vote just 3 months ago to raise taxes on people making $42,000 a year? We are not talking about a vote taken some years ago that can be explained away by a different set of circumstances facing us today. This was just 3 short months ago. Can we really be certain that he isn't going to change his mind again?
  12. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Interesting you bring this up, Do you know that McCain has not voted on one single bill in the senate since April?? So much for Senators running for POTUS...
  13. PatsFanInVa

    PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    I know we usually disagreee... and probably this will end badly... but could you jot down for us the figures and the sources on the tax plans that display your result?

    PS, also note whether you file separately or married.

    What the hell, we may as well do a case study, right?

    PFnV
  14. PatsFanInEaglesLand

    PatsFanInEaglesLand Rookie

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    #37 Jersey

    Yeah no problem I will get back to you after the game.

    Don't forget that McCain's plan also calls for doubling the dependent exemption.
  15. PatsFanInEaglesLand

    PatsFanInEaglesLand Rookie

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    #37 Jersey

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