Obama Taxes

[americanfighter]

Obama's taxes are for no ones good but for is own. He is a (*)(*)(*)(*) power hungry socialist.

obama claims that he will be helping small businesses with his tax cuts however what he fails to metion is that over 2/3 of small business owners make over 250grand a year so they will be taxed and they will have to pay more for the health care. Now they will have to either cut back on employees or go out of business.

He claims that 95% of americans will get tax cuts which is impossible because 30% don't even pay taxes.

Our stock market is in a bad situation and we need people to start buying to get in but when Obama puts in this new increase capital gains tax there will be less insensitive for inverters to get in to the market.


I could go on and on and explain the fallacies and pitfalls for all his taxes but this should give you a good Idea of how he wants to run the country.

[mutadayen]

I can't agree or disagree with you, because even though I support Obama, I have no idea what his tax plan will do. In fact, I think I can as far as regardless of who is in office next, their tax plan they're presenting now will have to drastically change. Neither he nor McCain is really wooing the country to be honest. It's the same old stuff over and over. I personally have learned nothing new or earth shattering that compels me to say, damn, he can make change. Nothing against McCain, but he seems a bit out of touch and I am not comfortable about a President who if something occurs to him, Palin is behind him. Im all for woman if she's qualified, but this is beyond underqualified for the most powerful post in the world. I've kept a very open mind towards both candidates, and even given Palin the benefit of the doubt, but there's no comfort there whatsoever. But ease up man...we're in such a rut right now that the only place we can go is up (hopefully)...

[Smallville]

I can't agree or disagree with you, because even though I support Obama, I have no idea what his tax plan will do.

You may want to research his plan before November 4.

[mutadayen]

It's not that I dont understand his tax plan. I actually do. And I understand McCain's tax plan as well. With a new baby and wife and house to support, i've gotten very deep into politics and finances and have been reading up everything and anything I can on both candidates. With that being said, the point I was trying to make was that regardless of which person gets elected, neither of their tax plans that they are presenting at the moment would pass through congress because they'd both be scrutinized and ripped to shreds. There would be so many alterations that their tax plans would be constantly changing. Both of them are going to enter the white house in such bad shape that they wont be able to implement anything for the next couple of years. That's what I was trying to point out.

[pjsnyc]

...obama claims that he will be helping small businesses with his tax cuts however what he fails to metion is that over 2/3 of small business owners make over 250grand a year so they will be taxed and they will have to pay more for the health care. Now they will have to either cut back on employees or go out of business...

What Obama fails to do, actually, is describe what HE means by small business. To be quite honest, I'm not really concerned anymore with his economic policy because its really not his forte (and I'll admit McCain's not well versed in economics either - more experienced? yes).

What I do believe is that both candidates will be left with the nation's (and the world's) economic status in jeopardy and that either candidate will do their best to surround themselves with individuals that have nothing but the best education in how our domestic economy as well as global economy works. http://www.npr.org/templates/story/s...79&ft;=1&f;=1102

[immts007]

Obama's tax plans as far as I can tell, don't address business directly. They address personal income, or net profits - which doesn't include salaries and other expenses.

He says that no one will pay more tax than they did in the 90's

The $250,000 mark is for personal income or net profit. At the $250k mark you might see a whopping $1k increase, certainly not something that is going to keep you from paying a salary - and besides paying a salary would be deductible and change the formula.

Here, why don't you read his plans yourself... and if you are going to deny the legitimacy of these documents please provide your sources that show otherwise.

Thanks.

Full Obama Tax Plan
Key Facts About Obama and Taxes

[Eore]

obama will turn america into canada. and having lived there, that may not be the best thing for our country (no disrespect to my fellow cancucks, who's election was tuesday-marijuanna party of canada gets more votes than communist party of canada!)

[Chilli Dipper]

Let's get one thing straight: Obama is not a socialist. A vital key to socialism is the government control of industry and the means of production, and not even his health care proposal comes anywhere near to meeting that description. Until he wants to, say, nationalize the banking industry (wait, someone is trying to do that already?), the label does not apply.

As far as small businesses go, I'll give the hypothetical scenario of a restraunteur. Would he be better off with a tax plan that allows him to hire one more person to his staff, or would he be better off with a tax plan that allows hundreds of more consumers the luxury to eat out on a regular basis?

[golf_junkie27]

He claims that 95% of americans will get tax cuts which is impossible because 30% don't even pay taxes.

Interesting to see that you believe 80,000,000 Americans don't pay taxes. Where did you get this information? Are you saying that A)80,000,000 people work off the books? Or that B)80,000,000 don't file tax returns? Or that C)there are 80,000,000 who don't work and therefore don't file taxes?

It's pretty simple. Neither A, B, or C exists. Therefore, where are these 80,000,000 tax dodgers?

[iacas]

Interesting to see that you believe 80,000,000 Americans don't pay taxes. Where did you get this information? Are you saying that A)80,000,000 people work off the books? Or that B)80,000,000 don't file tax returns? Or that C)there are 80,000,000 who don't work and therefore don't file taxes?

24.6% of the U.S. population is under the age of 18, and a good portion of those people don't pay taxes because they... don't make any money. And then there are people on welfare and all manner of other things.

I don't know if he's trying to include six-year-olds to get to his 30%, but your statements are obviously wrong. C could very easily exist. I personally doubt his 30% is right, too, and always assumed of course that Obama means 95% of taxpayers will pay less, not 95% of Americans .

[EquipmentJunkie]

I personally doubt his 30% is right, too, and always assumed of course that Obama means 95%

Agreed, logically to pay a lower fee or be charged less, you have to be paying something to begin with

[gogolfing]

obama will turn america into canada. and having lived there, that may not be the best thing for our country

You're entitled to your opinion; but perhaps back it up with some facts. You say he will turn the US into Canada... I assume you are talking about health care. Sure our taxes are higher, but so is our life expectancy, our level of overall education, and our crime rates can't even be compared. My Dad has severe arthritis and his treatment costs $3300 per treatment which he gets four times per year. Cost to him, nothing. My brother moves to the States, his daughter gets hit in the head by a rock by a little puke from across the street, has to get it glued instead of getting stitches, is in emergency for 20 minutes and they get a bill for $450. Sounds like a better system to me. We have decided as a nation to make sure that you can't get better access to health care just because you have more money; we also don't have people going bankrupt because of medical bills.

You also talk about the recent election, mention the Marijuana Party and the Communist Party, but fail to mention it was the right wing Conservative Party that won the election (not who I voted for). Your choice to move to the States; happy for you, but before you throw out random slags on my country, back it up. I'm proud to be a Canadian; things may not be perfect, but they aren't too bad from where I sit. Don't get me wrong, I don't dislike America or Americans; I've met jerks in both countries, and great people in both. But I think as a generalization, most people living in the US have a limited understanding of our system here in Canada. There, my rant is over; I'll go back to drinking my beer and eating some back bacon, eh

[Shindig]

Just curious: what's the expected inflation rate under Obama vs. McCain? What has it been under Bush, and what was it under Clinton? I keep hearing McCain talk about tax cuts, just as Bush did, and I haven't heard McCain explain how they're going to pay for government under his presidency.

I view inflation as just another form of tax, and my understanding is that it is closely related to a combination of formal tax rates and government spending. It probably isn't technically a tax by definition, but I lump everything that takes away the spending power of my paycheck as a tax.

If inflation is controlled under Obama and not under McCain - and I have no way of knowing whether it would be or wouldn't be - Obama could well turn out to be the low-tax candidate. And with the number of programs the Republicans like that the Democrats don't, that his party might cut if they're in power, he might also be the (relatively) small-government candidate too!

[EquipmentJunkie]

Just curious: what's the expected inflation rate under Obama vs. McCain? What has it been under Bush, and what was it under Clinton? I keep hearing McCain talk about tax cuts, just as Bush did, and I haven't heard McCain explain how they're going to pay for government under his presidency.

Agreed the worst way this administration has taxed us is by devaluing the dollar.

[Release]

Both candidates are addressing the issue on individual level, as this is the most personal and pressing concern the mass have.
Increasing tax at any level will only work temporarily and not a permanent solution as we all know it. The overall well being of the economy body is the only way to maintain a healthy tax/redistribution structure. Socialism,capitalism... don't you believe they tax you differently, they might name it differently but the bottom line is the demand level for the public services and the supply and redistribution of the resource to meet the demand.
We need someone to reconstruct the spirit of well being, but also put the reality check into the formula.
I wish I could know who's going to be their financial advisers when they're in the office, that, might influence the direction for casting my vote.

[immts007]

I wish I could know who's going to be their financial advisers when they're in the office, that, might influence the direction for casting my vote.

Warren Buffet will certainly have a roll in an Obama administration... I believe Paul Volcker is also an advisor to the campaign

[ganjagolfer]

i appreciate the way my gov spends its money and so i usually pay extra taxes so no complaint from me if obama raises taxes

[pjsnyc]

...Your choice to move to the States; happy for you, but before you throw out random slags on my country, back it up. I'm proud to be a Canadian; things may not be perfect, but they aren't too bad from where I sit. Don't get me wrong, I don't dislike America or Americans; I've met jerks in both countries, and great people in both. But I think as a generalization, most people living in the US have a limited understanding of our system here in Canada.

And watching Trailer Park Boys - awesome show!

But yeah - saying an Obama presidency would turn America into Canada is asinine. I'm surprised someone who believes that knows how to use a computer!