Obama, McCain, Sarah Palin and Joe Biden's Tax Claims: What Does It All Mean?
September 4, 2008
By Kevin Cafferty
Ah, the conventions. I'm sure a lot of you, like me, stayed up to watch Sarah Palin's big entry onto the national stage last night. Between that, Obama's stadium speech, Lieberman stumping for the other side, and more inspirational videos than you can shake Ken Burns at, these past few weeks have been a political junkie's dream. Although come November, I'm going to miss Tim Russert and his whiteboard.
Since we're a savings blog, one of the points that jumped out for me on both sides were various tax claims. Barack Obama and the Democrats say John McCain won't offer tax relief to 'more than 100 million Americans.' McCain and the Republicans say the opposite. Amid all the more sensational stuff, like the constant stream of new Sarah Palin information, this has been a bit lost.
Which is why I was so excited to see this CNN article, which at least attempts to break the tax issue down beyond campaign sound-bites.
What do you think? Is McCain's tax plan or Obama's the best for you and your family? If you are going to be bringing more money home, do you plan on investing it for the future or increasing your entertainment budget?
And why can't any of the delegates (both parties) dance?
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Tax Day 2009
Comments
On
Wednesday, October 22, 2008
charles
wrote:
Obama's tax plan will destroy the Social Security system.
Obama says his income tax plan will lower taxes for 95% of Americans. There is just one problem with this, 40% of Americans already pay no income tax. Obama's response to this is that these people pay Social Security tax. Well, that's not income tax, but a contribution to their retirement plan. So if he wins and implements his tax plan, for the first time in the history of Social Security, 40% of the people who will get retirement benefits will have paid nothing for them. Social Security will then loose all pretext of being a retirement plan, and will become a national welfare program.
This will cause Social Security to lose public support in a massive way. Leave Social Security contributions out of income tax plans. If you take some peoples income taxes to pay others Social Security taxes, Social Security will be destroyed forever.
http://strategicthought-charles77.blogspot.com/2008/10/obamas-tax-plan-will-destroy-social.html
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