What do these higher taxes mean?

Question

I did research it a little bit but i'm too lazy to get links apparently BUT I've been looking at Obama's tax plans and all of them seem to be higher than what we're paying now. At the same time I hear these plans for health care, better inner city schools, and stuff. I want to know if the extra money we're paying would be going to the things I mentioned or where? Will it be lowering our deficit? This will be my deciding factor between McCain and Obama. Please have a legit answer!

Answer 1

But economic growth tends to be much larger under democrats than Republicans which would confiscate for any loss via taxes.

Answer 2

I am wondering the same thing. I can not believe that taxes can be cut for middle America, and national health care and education can be funded by the federal government, all at the expense of increased taxes on the wealthy and businesses. Now, couple that with the promise of increased jobs.  How will businesses expand to offer more jobs if they are saddled with all the taxes needed to pay for health care, education and a tax cut for workers?  It can not be done, regardless of what the "models" or "theories" say. Models and rhetoric are not reality.

Answer 3

They would really go to the budget deficit and the newly unemployed.  The budget deficit is projected to be $407 billion in 2009.  That's about $100 billion less than the U.S. military for general upkeep.  Another $150 billion a year is going to go to the war on terror.  There is about $100 billion more that doesn't go to the poor, the elderly, the disabled, federal education money, the environment or interest to pay the national debt.  The rest of the $3.1 trillion will go to those groups.

Also it's known that somewhere 17%-18% is the sweet spot for a good economy.  Under 17% does no increase the benefit to the U.S. economy.  Over 18% and the economy starts to slow down.  You can see that with Canada and Western Europe.  Canada has just under 7% unemployment where most of Western Europe, it's about 8.3% including France, England, Italy and Germany.  Even now in the U.S., it's under 6%.  Those people out of work don't bring tax money in, they collect welfare instead.  European countries also don't have much of a military.  England and France claimed to be tapped out after sending less than 40,000 troops each around the world.

So he will increase taxes, slow down the economy and the extra taxes will be used to pay for those now unemployed and the deficit.

Answer 4

The GOP has a wonderful plan for you...actually two plans.  The one for the corporations and the growing population of millionairs centers on allowing them to get richer and more influencial.  The second plan is for the 95% of us that are working class.....that is we make most or all of our income in the form of wages. Grover Norquist, arch conservative and economic advisor to the Bush Junta and to the GOP in general is the president of Americans for Tax Reform.  The thust of Norquist's economic phlosophy is "..to make government so small we can drowned it in a bathtub."   This is the current neo-con-man economic plan. This  plan means that there will be no money alloted to any kind of social infrastructure.  True, your taxes will stay more or less where they are, though taxes for the 5% that own 95% of everything worth owning and 95% of the nations cash income will decrease.  In the real world you'll pay more for essentials and the money you pay in taxes will never come back to you in the form of social services....basically to the reactionaries of the GOP,  the American wage-earner is a sheep to be sheared.  Obama's plan will ask the 'rich' to kick in a little more, not less, and the taxes for the middle income payers will go down a bit, though your state and local taxes will probably go up.  On the whole, you'll be no worse off and somewhat better off.  On the plus side, essential social services will still exist under the democrats, but not under the republicans.  If you want to live in a 3rd world country vote for the GOP.  If you want to live at a moderately affuent country where you can pay the rent, vote for the democrats.  Getting out of this hole is going to take awhile.  Digging it deeper means it will never get done.

Answer 5

Health Care Policy: http://www.barackobama.com/issues/health...

He's going to cut funding from outdated programs, bring jobs home, put people through college and in turn, ask them to serve the community which would also help put money back into the economy. Keep in mind also that the Iraq war is costing the US a lot of money every month. That money can be directed towards the economy when the troops come home.

Answer 6

Use common sense how can the government give free health care to all americans pay for everyone to go to college and give larger welfare checks to lazy people? Well heck it doesn't matter I think I will quit my job and vote for Obama to. Obama supporter beware you will be paying for me to be living the Obama American dream. Lazy people love Obama!

TAXES TAXES TAXES my friend

NOBAMA 08!