Does this portion of a tax plan proposed by Obama seem sufficient?

Question

Cut Taxes For Middle Class Families: Hard-working American families need lower taxes. Barack Obama will permanently repeal the Alternative Minimum Tax (AMT) -- a tax that will be paid nearly exclusively by 25 million middle class families. Barack Obama will repeal this onerous tax, saving middle class families nearly $60 billion in a single year. Under Obama's plan, a middle class family with children set to pay the AMT will save an average of over $2,700 -- a real tax cut for working families.

Answer 1

Hogwash. Have you ever known a Democratic president to lower taxes>?

If I told you I was the king of old Siam, would you believe it?

Answer 2

So Obama's plan is to extend the Bush tax cuts that are

currently in place for the middle class.

The working families have received this benefit under Bush for the past six years.  Obama's plan is George Bush's policy.

Obama isn't lowering taxes. Just not letting taxes go back up pre Bush.

Answer 3

You forgot to figure in the lower paychecks, higher prices of goods, and fewer jobs that the higher taxes that will be put on businesses will bring. They will have to pass the price on to us. Obama's plan will hurt everyone.

Answer 4

Any savings the middle and lower class will have will be offset by increased prices for services and goods. Since Obama will raise taxes on small business owners, the very people that reinvest in their businesses to create more jobs and cheaper more affordable goods and services, so raising taxes on them and increasing minimum wage will come around to bite the middle and lower class in the @ss. Plus he will keep the inheritance tax, which continues to benefit corporates and hurt small business owners, and he will raise the corporate tax, sending more jobs overseas, and for the ones that stay, they'll just pass those taxes onto the consumers.

All in all any savings for them will be offset by increased prices of goods and services. And unemployment is guaranteed to increase.

Queen Bee: you fail to acknowlege the republican majority in congress that kept Bill in check, and you fail to recognize that Bill was handed a once in a lifetime occurence, the Tech explosion of the 1990's due mostly to the internet and advances in computer science. As well as the huge economic growth left to him that was engineered by Reagan.

Edit: Getting rid of the AMT is a good thing (which I thought was weird since I never heard Obama support this), and these tax cuts will work along with tax cuts for wealthier Americans, but tax cuts only for the middle and lower class, as Obama is purporting, will do exactly as I stated above. So, my answer wasn't along partisan lines, only economic truths, and btw, I'm no McCain supporter, so it wouldn't have been a partisan comment anyway. Although questions like this are a good way find out who is paying attention and who is not.

Answer 5

Interesting, the man who promised that those who make over $250,000 a year will not be getting tax cuts has proposed a tax cut which mostly benefits those making over $250,000 a year.

Answer 6

Works for me

Answer 7

In My View there should not be any tax for employee. Only tax an employee should pay as tax on the services he got from his surrounding either from organization or from it;s local area. There should not be any tax on income from salary. That should be waived off.

So Obama still need to take further step and make the people salary tax free.

Answer 8

I remember higher taxes under Bill Clinton, and the greatest economy ever. I did not hear anybody complaining about taxes then.