Tuesday, August 19, 2008
The Truth of Obama’s Tax Proposals
Both presidential candidates have proposed tax plans cutting taxes for American families. However, the Obama plan gives the biggest tax cuts for those with the lowest income, while the McCain’s biggest cuts go to the very wealthy. Moreover, McCain misrepresents Obama’s tax proposals with false and misleading claims. GOP radio ads make the statement that Obama would raise taxes on middle income families making $42,000 or higher, which is a complete fallacy. In reality, Obama proposes tax cuts for these families and only increases taxes for those families with an income exceeding $250,000 or $200,000 for single taxpayers. The ads also claimed that Obama wants higher taxes for small businesses, seniors and on life savings. Again, these claims are absolutely false. In fact, Obama promises a $1000 tax cut for families with a yearly income of $150,000 or less and offers additional tax cuts for education, childcare, and mortgage payments and for the rising costs of gas and foods for low-income families. For seniors with less than $50,000 yearly income, Obama would eliminate income taxes altogether.
The McCain and GOP ads on taxes, approved by John McCain, show a pattern of deceit, misrepresenting what Obama proposes. On the other hand, Obama’s proposals will make the tax system more fair and efficient.
Henry W. Tieleman