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Presidential Nominees and Taxes

Presidential Nominees and Taxes

According to the Tax Policy Center's findings from a recent analysis, under McCain's plan, the average taxpayer in every bracket would see a lower tax bill, but high-income tax payers would benefit more than everyone else. Under Obama's plan, high-income taxpayers would see a higher bill while everyone else's taxes were reduced. What these two plans have in common is that they fail to raise the necessary capital to cover government spending. Both plans would increase the national deficit.

Either option clearly has its drawbacks, but looking at it from the majority perspective, Obama's plan is likely to do far better—after all, who ever says, "Gee. I wish I could give more of my hard-earned money to the government!" Many working class people are looking for a reprieve from their tax bills, especially in light of the economy and rising costs of just about everything.

Which candidate's views—in terms of taxes—do you think will help you most? Is this an important campaign issue to you?
[CNN Money]

Posted: 6/11/08
spiderweb

For the past seven years, I have seen our nation grow heavily in debt and taxes, my God...some people have to pay taxes on their Social Security...now that's a bit much to do once you've already paid on that money once before. I believe Obama will be the best president in the area of taxes and finance and even in the area of national security. I was not wrong about Bush seven years ago, and my spirit tells me I'm not wrong about Obama for this election.