Wednesday, September 17, 2008

The Truth About Obama & Taxes

There is a lie that continues to bounce around that Barak Obama is going to raise taxes on all Americans. The most egregious is that he is his going to raise the taxes on someone make $42,000 a year. This is a lie. A flat out lie.

It is true that the Obama's tax plan will increase income taxes on some Americans, while McCain will give a tax cut to all Americans, but considering the debt this nation is already burdened by, and the increasing deficits, McCain's plan is insane.

Look at the chart below to see where you are and whether you can expect a tax increase or a tax decrease.

Now personally I think even Barak Obama's plan is not the right one. I do think there will have to be some belt tightening by the entire country because of the hole the Bush administration has put us in. We are a nation with an economy that is teetering because of the excesses of the Republican party. However Obama's plan is head and shoulders above John McCain's. If your personal income taxes are important to you, you might want to consider voting for the candidate that gives you the greatest tax cut.

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