With an unbiased opinion, can someone please explain Obama's plan to increase taxes? ?

Question

How will his tax increase benefit the middle and lower class?

Answer 1

He will increase taxes on the top 5%.

America cannot continue to engage in massive deficit spending like Republicans have. It leads to a weak dollar and inflation.

Democrats grow the economy by creating ladders to help people work their way up. Republicans have this survival of the fittest mentality where the already rich get richer and the poor get poorer. People simply don't start at the same starting line.

Seriously, go grab historical data on GDP, jobs, inflation adjusted median wages, etc.

You will that in general the economy does indeed do better under Democrats.

Answer 2

Obama only increase tax on people who make 250,000/year and over. So if you don't make that much, you have no worries. If you rich, you vore for Rep. If you middle class, you vote Dem. Simple. Obama has best interest of middle class, education, medcare, economic, stop the war. Macain has more interest to keep spending on Iraq.. so you know when to chose.  

Answer 3

He's said it over and over, but people will believe what they want. His plan is to lower taxes for the middle and lower classes and raise taxes for anyone making over $250,000. I really doubt most Americans, Democrats or republicans make that much money.

Answer 4

You roll the Bush tax cuts back to where they were previously, which will immediately bring in tons of revenue.  You stop giving tax breaks to companies who move overseas.  Those two things alone lessen the tax burden on the middle and lower class...  Will taxes go up?  Yes, but ONLY for the top 1%.  This will increase the wealth of the middle and lower class...

Answer 5

I would answer but there are numerous numbers of websites with his entire plan on there.  Please search the internet for places with great reps

Answer 6

Obama wants more of your money no matter what your "class".  If you are of a "lower class", then don't count on Obama to help you unless you are black.  You should tell your kids to study hard because getting a good education is your ticket out of poverty, unless you live in a socialist country like Britain, where earning power is discouraged  by the government.

Answer 7

Obama will not renew Bush's tax cuts. Just that act doubles my taxes and I make just over $40,000 per year....Also all of the 10% of the taxpayers that were dropped from the taxpayer rolls with those cuts will now be put back on . So don't let Obama blow smoke up your @ss he is out to double every ones taxes just by not renewing the temporary cuts put in by Bush..............