Is it true Obama is going to raise our taxes?

Question

Is it true Obama is going to raise our taxes?

Answer 1

for people of the middle and poor classes he is actually going to cut taxes.  Which is one of the changes he has been talking about in his campaign

The Illinois senator’s plan to “relieve the burden of the middle class” includes four points: 1) an income tax cut of $500 per person (or $1,000 per working family) for 150 million Americans; 2) a universal mortgage interest credit of 10% for homeowners who make under $50,000 a year; 3) the elimination of income tax for retirees making less than $50,000 a year; and 4) simplifying the process of filing a tax return

Answer 2

What is everybody talking about?  Obama's plan is to lower taxes for 95% of working families.  How is this possible?? Because 1% of the country own 55% of its wealth.  Look it up.  

We actually live in a regressive tax system, with those who make 5m a year pay less, proportionally, than those that make 300k a year.  This is because of amazingly complex tax loopholes and the ability of corporations to pay executives in stock (these structures were created by this 1%).

That is the amazing thing about the Republicans (I used to be a Republican until I learned how this all works).  They've been able to get middle class America to vote against their best interest for the past 40 years by exploiting their fears and by inciting anger.  

Please, I would love to talk about this more to anyone who doesn't agree with it.  I can assure you I have a background that is strong in financial understanding.  

Answer 3

yes. if you're rich or middle class.

Answer 4

Only if you have a job.

In my opinion millions of people think the government owes them a living.

But that is just my opinion.

Answer 5

Unless you make more than $112,000 you will get MORE money back under Obama.  I wish these idiot repubs would do some research first.  Check out my link, independent study of their tax plans.

Answer 6

just like everybody believe in 2006 when the democrats was put in charge of the house and senate they're a lower gas prices around $2.00 a gallon can get us out of the war right the way .so where are you at today are you pay more for gas are we still sending troops to a war ?????

Answer 7

No, he will never get the chance.

Answer 8

No. He has a plan to lower taxes.

Answer 9

Democrats always raise taxes. The cost of all their special interest and welfare programs have to get money from somewhere. Obama said at the DNC speech that he would not raise taxes and would instead go line by line through the budget to eliminate the special interests programs that are no longer necessary.

Some problems with this. First, the President should not have time to go line by line through anything that large and intensive. That is not the President's job and I have serious concerns that important issues will not be addressed if he is sitting there for 9 months reading every bill that has come out in the last 60 years.

He does not have the authority as President to simply through out the laws he does not like and once a bill is signed into law it is law, and out of his reach. He would have to get congress to write and pass new bills to get the job done, it is not as simple as he tries to make it sound. Also, how come he decides which special interests funding is not as important as his own special interests funding? What he says he can do here, he can't do here. I'm not saying we shouldn't go through all this garbage and throw out as much as possible, just that I don't think he can do it. The fact that he acts as if it would be such a simple thing simply solidifies my opinion that he really does not understand how our government works. Also, these bills/programs he wants to throw out are largely liberal programs fought for by the democratic party. It seems unlikely a democratic house would cooperate enough to eliminate their own handiwork that they must have at one time believed in.

Last all the proposed health care plans I have seen from the Dems includes a provision that basically states that if you do not get health insurance for whatever reason, the price of your federally issued health care will be deducted directly from your paycheck. So while your takes may not go up, your paycheck will almost certainly get smaller at an average of $150 per month per person. Remember if you have dependents their costs will also be deducted from your paycheck. If you do not participate, you will be fined and may lose your right to work in the US. Somehow this sounds more like forced health care than universal health care.

In answer to your question, Obama will almost certainly make everyone's pockets a little lighter one way or the other.

Answer 10

Yes. How else do you think he will accomplish all his promises? Nothing is free in life.

He will Impose Social security (FICA) tax on all income, not just earnings under $102K at present.

Raise capital gains taxes

Doube the tax on dividends from then current 15% rate to 30%

End the planned elimination of the estate tax

Answer 11

Whoever is the next president will have to to cover the massive amount of spending under the Bush administration.

Answer 12

yes he will but u nvr know he usually says he wll do sotin and he changes his mind then back again soo idk

Answer 13

YES

Answer 14

is the pope catholic?

Answer 15

His past voting record has him voting for every tax increase that came his way. So I would say yes.

Answer 16

Nope. McCain most certainly will.

Thumbs down from Neocons will not help.

Answer 17

Yes. Income tax is just one. He has lots more ideas...on retirement accounts, savings, capital gains, water, gas, electricity, etc.

INCOME TAX

MCCAIN (no changes)

Single making 30K - tax $4,500

Single making 50K - tax $12,500

Single making 75K - tax $18,750

Married making 60K- tax $9,000

Married making 75K - tax $18,750

Married making 125K - tax $31,250

OBAMA

(reversion to pre-Bush tax cuts)

Single making 30K - tax $8,400

Single making 50K - tax $14,000

Single making 75K - tax $23,250

Married making 60K - tax $16,800

Married making 75K - tax $21,000

Married making 125K - tax $38,750

Answer 18

According to his 'tax plan' he will cut taxes on the middle class.  What he doesn't mention is that he has no desire to renew the Bush tax cuts ie.  AMT (alternate minimum tax) which will in fact ge a HUGH tax increase on the middle class.

Business as usual.  

Answer 19

of course he will. especially people like me; who work.

Answer 20

Yes, he wants to double the tax rate to cover his dream world expenses that have no proof that they will work.  

Answer 21

Capital gains taxes will increase and if you are in a high income group   your income taxes go up with his proposals. He also has other plan  for tax credits for various groups, but keep in mind that even though he will have a democratic  congress his tax plan will be changed some what by them. This is especially important to remember when looking at Mccain plan. The Bush tax cuts will expire automatically  in 2010 so to keep his promises McCain will have to convince a democratic Congress to extend them which is very very very unlikely. Your taxes  under McCain will  probably not  be much different  under McCain than Obama unless you are rich.

Answer 22

If you make less than $150,000 a year you will get back $1000 more a year....If you make between $150,000- $250,00 you will stay the same....If you make more than $250,000 you will go back to paying what you paid before Bush lowered them. Anyone who makes that kind of money & whines about money has worst problems than money problems.

Answer 23

Well, higher taxes and increased benefits is a normal liberal stand. Which you could probably figure out for yourself if you looked up the word "liberal" in the dictionary. Lower taxes with lower benefits is the conservative stance (another obvious one if you know the definition of the word). So- yes.