Whose tax plan is better for you?. Mc Cain vs Obama.. pls explain?

Question

The rich would pay more under Barack Obama's tax plan, and the poor and middle-class would pay less, a nonpartisan analysis finds. Under John McCain's plan, the rich would pay much less than they do now, the poor and middle-class would pay a bit less, and the federal deficit would grow, the study found. Each individual's tax situation is different. Please give me you Political Citizen point of view..

Answer 1

This is true.  McCain's plan does nothing to address our ridiculous debt as a nation other then push it onto the next generation.  

Who here can honestly even say they make more then $250,000 a year to be scared about Obama's tax-plan?  Trickle-down tax-plans don't work and HASN'T worked for the last eight years.

Answer 2

Considering there's a $9 trillion deficit, at some point somebody's going to have to bite the bullet and start paying it down.  I think the rich should pick up the tab for our national defense, since they rarely give their lives for the country. I don't care that they already pay more; it's obviously not enough considering McCain would like to continue the crusades until all the poor and middle class have bled to death.

Answer 3

McCain works for me I am middle class busines owner that is incorporated, and Obamas Health insurance alone will cause me to fire an employee or maybe two. His pay roll tax, and corporation taxes, and fuel taxes, could cause me to downsize as well.

As a business owner I Can operate in any tax plan, but my employees do not have the options I have. They need me to invest in the business, and in them.

Now I have seen Obamas plan 100% in detail, but I looked through his website, and I don't think I can afford to keep employees under it.

Studies show Obamas will cause our deficient to grow even more than it is now.  

Answer 4

Republican party has always been pro-rich and big business, I'm always confused why so many middle class people think the Republican party is somehow on their side when it comes to tax breaks and labor/wage laws.

The honest truth though?  The tax system needs to be scrapped.  It's way too bloated and complicated, with too many loopholes and exceptions.  

Flat tax with exceptions for below poverty line incomes.  

Answer 5

Obama's plan would cut my taxes more than McCain's. It's clear that trickle down economics doesn't work but some people will rush in here to defend it even though the economy has been going down hill since Clinton left and the Republican goons had carte blanche to shape economic policy.

Answer 6

No mater what "class" you are, if you own a house or condo and sell it in the next 4 years who ever is in office will have an impact on the capital gains taxes.  Under Obama's plan, you would pay double the tax on that sale.  That effects everyone not just the so called rich.

Most people who own a business are considered rich.  Obama wants to increase most of their taxes.  If you make a widget for $1 and sell it for $2, you will make $1 profit.  If the Fed Gov adds a 50 cent tax to that item for you to pay, your best bet is to raise the price to $2.50.  So who is really being taxed here?  Taxing the "rich" business owners is also taxing the poor consumers.

Mr. McCain will keep taxes low for as many people as he can.  More money in our pockets will result in more money spent in our communities.  This will add to and help our economy.  

Answer 7

McCain's plan is for ALL people. Obama's plan is a Democrat talking point and is false. Everyone in Obama's plan will pay more and will ultimately put more of a burden on lower and middle income people. The Dems are trying to create a "class- warfare." The 250k or above amount is so misleading I feel for anyone who falls for it.

Ask your boss what a tax increase will do to their business.

The Fed government already takes in enough money. They need to learn how to be more fiscally responsible with it and cut spending. That's what McCain's plan is. You don't reduce the debt by raising taxes. Since a majority of the Federal budget is social programs, cutting those that are failing, will alone save the taxpayers billions and reduce the deficit.

Since Obama has already promised to raise the capital gains tax and let the Bush tax cuts expire, almost every tax paying American will shoulder that burden.

Answer 8

You either cut everyone's taxes or you increase the taxes of the middle class.  When you try to tax the wealthy they stop spending and investing and lock their money up to protect it.  No one is going to risk their money if they will have the profits taxed away.  Taxing businesses will only pass the tax on to consumers.  When you want to encourage an activity you subsidise it.  When you want to discourage an activity you tax it.  An example would be a cigarette smoking.  

Why, then, would the Government subsidize people who are unproductive and tax those who are productive?  Then tax the most productive at an even higher level?  Will that encourage economic activity or discourage economic activity?  

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Answer 9

Ok, let me just start by saying I'm not happy about either candidate. That being said; Obama tax plan will be the highest in history for ALL classes. And since when do true "poor" people pay taxes? Unless you are talking about sales tax, the poor usually pay nothing and sometimes, if they have children, get money back. The middle class will be the most affected by his plan because they consist of the entrepreneurs and business owners who WILL be financially ruined if their taxes are increased. You've already heard on the news how many people are foreclosing on their home loans. And YES, Obama plans on hitting the middle class because his tax system will increase ALL business taxes, small medium and large. Think about an immigrant family who owns a small restaurant; when they have their business taxes severely raised, what do you think is going to happen? At the very least their family will suffer; most likely they will go out of business. And what happens when small businesses go under all over the country? Well, the tax income from them will disappear....the people who ran the businesses will now be, sadly, dependant on the government. So now instead of generating revenue from these people, the government is paying them to live. This also wrecks havoc with the economy because despite what some people have said here, trickle down economics work. ANY non-partisan economist will tell you this. It's one of the basic "laws" of a capitalist system.

As for McCain's plan....he says he wants to lower taxes for everyone. Now how is this good for government? Well for starters, we are in the beginings of a recession. Lowering taxes WILL spur the economy. It always has. Why do you think Greenspan lowers the interest rate when the economy is looking bad? Because the lower the interest rate, the more people take out loans and buy things, and the more people are buying, the better the economy does. This is one of the basics of economics. Now you might say, "But with low taxes, the government won't have enough money." Well, you would be right if you didn't take into account how much growth you see with a tax cut. The amount of taxes coming in from new businesses and wealthier citizens more than makes up for the lower tax rates.

So you have to ask yourself this.....do I want a tax rate that is lower for all, allowing capitalism to grow on it's own......or do I want a tax system that strangles the very essence of America?  

I should hope the answer is clear.

Answer 10

Obama's makes middle-class and the poor happy, while he just doesn't give the upper-class a break, while they are the ones that did something, something VERY hard, to become upper-class. This is not always true, but they have to be treated atleast as much as others. While other people, some of them just waisted their lives, became poor. Yet they get free stuff. With health care, better than many upper-class people! John McCain treats everybody the same, or atleast more than Obama.

Answer 11

Nice attempt however you forget the cutting of spending that McCain also has in his plan that the analysis does NOT cover which will remove that deficit.  Also what isn't in that analysis is Obama's reversal of the Bush tax cuts.