It's the economy, stupid.

[jackshoegazer]

Those whose income is under $67,000 - 60% of all American taxpayers - would see substantially larger tax cuts under the Obama plan. While McCain’s plan concentrates 58% of its benefits to the wealthiest 1% of Americans, Obama’s rollback of the Bush tax cuts above $250,000 produces tax increases for that group.

Sadly, Obama’s story is not getting through. In the face of the TPC’s analysis showing that 95% of American taxpayers would see savings under the Obama tax plan, 53% of the Gallup respondents wrongly believe their tax burden would increase under President Obama. Meanwhile, despite the same analysis showing McCain’s plan to make permanent and expand the Bush tax cuts would produce a staggering $2.8 trillion in red ink for the federal budget, the Republican still claims the mantle of fiscal discipline.

Source

Comments

[zhyndra.livejournal.com]

The bottom line is most interesting. We can't afford McCain's tax cuts, just like we can't afford the bailing out of Fannie Mae and Freddie Mac. Debt is not okay, but that's just my opinion. That's some heavy taxation at the top of Obama's chart. Too bad it wouldn't result in choice and access to health care for all. I am so at odds with the priorities of the powers that be, and the masses, for that matter.

[jackshoegazer.livejournal.com]

If you look at other countries, Denmark for instance, the richest people are always taxed heaviest and they don't really complain. In Denmark, the top 1% of wage earners and corporations pay 71% in taxes. In America, the top 1% pay on 15% in taxes and McCain wants to cut that down to 11%. Everyone in Denmark who makes less than $200,000 pays less than we in America do and they can afford to send every citizen to college for free and they have universal heath care and tons of other social programs. There is no reason that we can't do that, and in fact, we did until Regan come along. Regan cut corporate taxes from 40-something% (if I am remembering right, it was a huge cut) down to the 15% that it is now. We suddenly went from a creditor nation, loaning money to other people, to one of the largest debtor nations in the world, suddenly racking up a massive $200 billion deficit. If we restored tax rates to a similarly structured system, reintroduced tariffs for imported goods and gave tax breaks to companies that kept jobs in the United States instead of rewarding companies that ship jobs overseas, we could easily provide the same level of social support to every citizen in our country that Denmark and similar countries do.

[zhyndra.livejournal.com]

I probably wouldn't have anything to complain about, either, if my country showed that taking care of its people was top priority. We could have universal health care right now, if "they" wanted us to have it. The government has shown us its priorities with the taxes now collected, huge sums of money spent on war, suffering and death, and allowing extortion of the citizenry by the medical, pharmaceutical and insurance industries. Some things I believe in are health care for all, a basic entitlement/welfare system, free school lunches for all students (not income-based to divide social classes), no charge for school bus service, air conditioning in classrooms where the temperature is frequently in the 90-100+ degree range, and driver education and behind the wheel training in high school. Some of these things, we used to have. Then cuts were made, due to not enough money, so more money was taken from us. Here, people always seem to vote yes on giving schools more money. Those who manage the school funds here have long thought that it is more important to have multiple computers for the students than air conditioning.

I think a flat tax would be fair, with no write-offs. I don't think it's fair to punish people for having too much money, or for being poor. My idea of progress would be for the government to take out taxes before we are paid, 9% across the board, not require filing of taxes for those who have already had them taken, no tax refunds, and pretty much put H&R Block out of business. Well, not really, because not everyone works in such a way to have taxes taken out before getting paid.

That chart does show that Obama is far more fiscally responsible than McCain.

[tyskkvinna.livejournal.com]

I agree 100% with everything in your first paragraph, and it's things I wish I could shout from the rooftop on a daily basis.

[zhyndra.livejournal.com]

:)

It's safer to shout at LJ. No broken bones. ;)