Quote:
Originally Posted by popeye
Also I did find another interesting fact about some policy of Obama. Anyone making over 100k a year will see a tax increase of over 15% according to his plans. That policy alone makes me a supporter of whoever is running against him.
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How about a non-partisan link to verify that?
His tax platform targets $80 billion of tax relief at the middle class and fixed-income senior citizens, I don't see what's so wrong about that.
I'm not sure exactly what Obama is proposing on letting the Bush tax cuts expire (as McCain has proposed in the past too!), but I think you are completely misunderstanding what marginal tax rates mean. I'll take your example whether it's true or not: what that probably means is that all income over $100k will be taxed at 40% instead of 35%, or a 15% increase.
Not nearly as dire as you make it out to be and no different from how it was in 2000. So someone making $150k/yr would nominally pay $2500 more in taxes but not really b/c that's what accountants are for. Anyone making over $100k knows a good accountant is well worth the money.
Obama has also proposed letting capital gains tax rates go back in line with income tax rates. Do you honestly believe that massively wealthy investors like Stephen Schwartzman or T. Boone Pickens should be paying tax rates that are less than half what their secretaries pay?