Obama to Eliminate Income Taxes for Seniors Making Less than $50,000. & other great points

On June 30th, 2008, The Chicago Sun Times wrote:




IIRC President CLinton had raised the top rate to to 39%. Clinton also had some small business tax breaks that were good. Out next President takes a similar tact.





I heard an economic adviser to Barrack Obama on the radio, he said that President Obama will give a a tax break of 50% of the health insurance cost to businesses that give health insurance to employees. A link to the WSJ has the same information here.

Now to be fair, FDR raised the top tax rate to 70% around 1936, and as high as 91% soon after. My parents worked thier way out of the Depression and won WW2 with a progressive tax, When I was born in 1958 the top rate was 91%, from the 1960's thru to 1981 the top rate had settled at 70%. Then in 1981 Reagan cut the top tax tax rate to 28%. The start of full spectrum class warfare on working people, the plan was to take your jobs away, and later your homes.

So Clinton just reduced the regressivity of the Reagan & Bush Sr's tax rates, by raising the top rate to 39% In a worse case scenario, in a year or 2 our economy may need shock therapy, a $10 an hour minimum wage, 70% top tax rate, and a freeze on foreclosing family homes. My enthusiasm is dampened a bit by Obamas plan, never the less it is a good solid plan. To rebuild our Middle class requires Strong Labor rights, Education rights and a progressive income tax. Throw in a good does of Keynesian economics, deficit spending to create jobs to build infrastructure, and we should be OK. Our existing infrastructure is in dire need of replacement. Those people on that bridge in Minnesota will likely agree.




Eliminate Income Taxes for Seniors Making Less than $50,000.

Eliminate Tax Breaks for Companies that Send Jobs Overseas.


The Washington Post has a wonderful graphic, a McCain Obama comparison chart, here.

Obamataxcut.com has a tax break calculator here.

Public opinion polling has shown that there are a majority of citizens who understand that you can't spend lots more than you take in. This plan is fair for both those whose rates will go down and those who will be taking an increase - I mean 4% on those incomes is nothing compared to what should and could be done.

k*R

Boy, a non Palin post just dies these days...... sigh,

Thanks Bro..

For some reason, we've agreed to the fascist/libertarian assumption that cutting taxes is to be desired. Why?

Why shouldn't we desire greater community control over how money is spent? Isn't it sad that even "liberals" like Obama propose cutting taxes to buy votes?

The fact that he said he might not immediately end the Bush tax cuts is proof that we have two fascist/libertarians running.

I was a DK supporter; he was a moderate leftist. Obama? He's clearly on the right.

He still prays at the alter of free-markets.

That being said, Obama is definitely the lesser of two evils; don't get me wrong.

Obama the "liberal" is bowing to fascist/libertarian views regarding taxation.

I'll end the conversation if you'd like, however.

Now If I saw a Palin sub thread break out I might have gotten rowdy.

It's called "relief". That would be good. Like real soon.

When too much wealth gets syphoned to the top, they use it to runover too many people in the world. It's not healthy, in any way to have mega-rich. It's not rightful, either - it's stealing on an unimaginable level. The top which profits should be paying the taxes, not shifting them to those barely getting by... it's the 1%'s drunken spree, they need to pay their own bill. And without WHINING for a change.

Then in 1981 Reagan cut the top tax tax rate to 28%. The start of full spectrum class warfare on working people, the plan was to take your jobs away, and later your homes.

First your jobs, then your homes, that is class warfare, no doubt.

very limited income--obviously.

And if you are driving Nana to the Senior Center chat up her friends as well.

The commercials being put out on the TV stations say the exact opposite - McLiar is claiming that HE is the one caring about all of us while Tax and Spend Obama will make our lives hell.

if we could get the message through NOW that we only tax the super duper rich, it doesn't seem to be comig through.

I was talking to some people last weekend and they were voting for McCain because he won't raise their taxes!

Thanks.

A few years ago I read about a survey that found that a lot of people thought they were in a higher segment than they really were. Many more think that some day they will be rich and they want to be sure those breaks are there for them too.

One message that we definitely should get out there is that McCain wants to tax our health benefits. Now THAT will reach people.

Why not everyone making under $50,000? Why just seniors? $50,000 is a pretty good income if your house is paid off and you have no dependents. Is this anything but a blatant pander to the senior vote?

Hey, let's eliminate taxes for the generation who gave us Reagan and ran up our national debt! Not only will the younger generations have to pay off that debt for decades to come but we get to shoulder an additional tax burden for them while they're still alive and earning a retirement income. Thanks mom and dad!

I'm sure it's hurting him. When are Democrats going to learn you never never say in a campaign say you're going to raise taxes. He's going to cut some people's taxes and raise taxes for others. The average person only hears the "raise taxes" part. And that's the part made to order for Republican campaigning.

Instead, he should adopt the Republicans stance: I'm not raising taxes. That just removes the whole tax issue from the campaign, which in the past has been toxic for Democrats. I know several people who are going to vote for McCain, and the first words out of their mouth is "Obama is going to raise our taxes."

A tax cut for 95% of families. Your friends must be well to do in that 250k+ per yr bracket.

it truly shows how clueless McCain is about our economy. How does he plan to address our deficit does he believe it will magically disappear?

many seniors do not make enough to pay taxes and live below the poverty line. If Obama could find a way to help these people I think he could pull in many people even some Republicans. It's good to think in terms of taxes, but many people in poverty don't pay taxes and they may get a small social security check, have worked hard all their lives and now find themselves unable to afford the very basics of life. This needs to be thought about also.

that it should be need based. I live on a retirement income of $40,000. I own my own house, my cars are paid off and I have no credit card debt. My property taxes are frozen until the house I live in is sold. I do not see a need to target me for a tax reduction. There are a lot of folks out there that certainly could use this program. I think the tax cut should be means based. JMO

And the middle class was never stronger.

under $50,000 plan. In some ways, it's more than not having to pay taxes, it's being free of the hassle of it all for a few years.

Lots of eager ears for this one in the retirement state.

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That jumps to 39%. I think it's a wonderful way to get the national debt paid off. And if it provides relief for the elderly and families trying to get by - then kudos to Obama.