How will Obama raise taxes on the middle class? ?

Question

Please provide links or details. I read the entire blueprint for change and .....nothing. What is the source of this?

Answer 1

Rolling back tax cuts will cause people to loose more money when collecting dividends, selling their bonds, selling their stocks and selling their property.  That stuff is all capital gains and if you are retired and cashing in your 401K, you will be paying more under Obama.  Obama wants to also grab more money from estate taxes.  Estate money allows the lower and middle class to profit from previous generations.  Obama wants people to spend more on health care. Somebody has to pick up that tab, even if it's for 20 million people.  20 million at $3,000 each (the cost of a low deductable health insurance policy by one insurance company) a year is $60 billion a year.  Unlike the war in Iraq (about $100 billion a year), this cost would be permanent and may go up.

Answer 2

Obama does not intend to raise taxes on the Middle Class.  That is Republican smoke.

The Democrats want to repeal the Bush Tax Cuts on the wealthy.

Answer 3

By allowing the "Bush" tax cuts to expire....automatic tax increase on anyone who pays taxes. I don't have the links, but he has stated, and voted on this.

But of course, if you get a"earned income tax credit", you don't pay federal income taxes(you get back more than you payed), so taxes may not go up on those who do.

And please don't fall for the rich don't pay enough lie.

The top 1% of income earners earn 22% of income, but pay 44% of all income taxes.

The top 10% of income earners pay approximately. 70% of income taxes.

fully 1/3 (lowest 1/3) of income earners don't pay any federal income taxes at all

He also wants to almost double the capital gains taxes, which will do very great harm to our economy because people will no longer want to take risks with their money. This one tax increase alone will do more to raise the unemployment rate than any other of his plans.

I haven't read his plan, but I have read the blueprint for his plan. It is called the Communist Manifesto.