I knew there was something fishy about McCain's claim in the debate that Obama "wants to raise taxes on people making only $42,000 a year." And I was right. Shocker.
This article in the Times debunks several lies McCain has told about Obama's tax policy, as well as a couple that Obama's made about McCain.
Out of curiosity, what do you guys think of Obama's proposed tax policy? I support it, but have read a lot of mixed reactions....
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Well, my understanding (before this was Obama's talking point phrasing) is that it restores the top tax bracket to what it was under the Clinton years and gives a tax break to everyone else.
ReplyDeleteWarren and I have talked about this at length (not Obama's plan, but tax structure in general) and I don't think I'm taking too many liberties when I say that both of us would say Obama's plan is right about where we'd like to see it. We're both marketeers to be sure but both see the value of a progressive tax code. I wouldn't go any more progressive though, and I'd have to do more research before I cling to this, but I might not even mind seeing taxes raised at the lower levels.
But here's my issue with all of it. I like tax cuts, in general. But both candidates are talking about massive government spending, especially Obama. And I'm already uncomfortable with the level of government debt. If I were president, my tax plan might look like Obama's, but only if I could couple it with massive spending cuts. And if I could change Obama's stance on one issue, I'd cut his spending. It's outrageous. I mean, the guy's talking about increasing the number of faith-based programs we have. Are you serious?
One other question, and I guess this should become its own topic, but John McCain's plan would end tax benefits on health care (if you have a health plan, you get to pay for it pre-tax). In theory, I like this idea, but it's not anything anyone talks about, so I don't know how it comes out in practice.