Editor’s Pick
AUGUST 29, 2008 10:23AM

The Truth on Obama & Taxes

Rate: 4 Flag

All you need is two tools:

1. The Obama Tax Cut Calculator, which tells you how much you will save under Obama's tax plan:

http://alchemytoday.com/obamataxcut/

 

2. This graphic:

otc

[Tax Policy Center via Washington Post]

So you can see that McCain's biggest tax cuts are on the top 0.1%, whereas obama's are on the bottom 60% of taxpayers. Plus, Obama only raises taxes on the top 1%.

And in the words of Charles Barkley, the basketball star:

Well, I think that if you’re rich — I thank God I’ve been very successful — if you’re rich, you’re always going to be rich. If we pay more in taxes, I got no problem with that. If you’re making that kind of money, a couple hundred thousand dollars here or there are not going to change your life.

Let’s be realistic. I’ve been very fortunate and blessed. I did a great job of saving my money. But I got no problem if I’m making that type of money, paying more in taxes to be honest with you.

 

 

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Comments

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Thanks, MB, for the graphics. This tax increase Republican talking point has been driving me crazy. The only downside to last night IMHO was CNN's choice to air the lies of the Republican rebuttal. That $42,000 number already has "stickiness" and needs to be blownup as a lie TODAY, not tomorrow. I will share this post with others -- thanks, again.
Hi Lisa, it was your lament on someone else's blog about how the lies are sticking with your neighbors and colleagues that inspired me to write this. I immediately thought of this graphic, which was news to me, too.

We need to distribute this graphic far and wide!
A couple of slogans that come to mind:

"John McCain thinks the main problem with the economy is that millionaires' taxes are too high."

"John McCain wants to give every millionaire in the U.S. a tax break equivalent to your annual salary."
it was your lament Thanks for that! :) :)