According to a new analysis by the Tax Policy Center, a joint project of the Urban Institute and the Brookings Institution, Democrat Barack Obama and Republican John McCain are both proposing tax plans that would result in cuts for most American families. Obama's plan gives the biggest cuts to those who make the least, while McCain would give the largest cuts to the very wealthy. For the approximately 147,000 families that make up the top 0.1 percent of the income scale, the difference between the two plans is stark. While McCain offers a $269,364 tax cut, Obama would raise their taxes, on average, by $701,885 - a difference of nearly $1 million.
PS: watch the SNL skit with Tina Fey and Amy Pohler in case you've been living in a cave.
PPS: www.sarahpaliniscrazy.com is an actual registered domain
PPPS: legitimate update soon. life is fabulous. so is obama.
1 comment:
Or think about it this way: Your high school friend’s father (yes, that one) created an abundance of jobs not only for numerous family members but also for many American citizens. …Low corporate and personal rates for the wealthy--entrepreneurs and some already rich who create/incubate most of America’s businesses and jobs--allow them to effectively deploy capital most efficiently through their businesses and also personally. To wit: What’s going to happen to the arts community when cap gains and personal income taxes rise at the top tier? One answer: The greenback goes to the Treasury, is ineffectively deployed by govt, prohibits effective deployment by its creators, and inhibits productivity of those occupying the top tier of Maslow’s hierarchy; i.e. you. Which candidate is proposing the elimination of income and cap gains taxes altogether? If Tina Fey, she gets my vote. Best, MBG
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