The Obama tax plan calls for increased taxes on those who make more than $250,000 annually?
Obama wants to increase the tax rate on those people who earn more than $250,000. In 2007, the average US income was $50,233.00. Why are Conservatives upset about additional taxes on people who make 5 times the average, especially when those earning under $50,000 will get at tax break under Obama's plan?
- Mr PinkLv 41 decade agoFavourite answer
Because its unamerican darned it!
Seriously though, because conservatives are brainwashed into thinking that maybe one day they too can be in the protected tax bracket where you get bailed out when you do poor business.
- 5 years ago
Ha miss nancy 2016 brought up an excellent point. You can also think of it this way: The people who will be getting it will already have a way to use it. They use it to buy food,pay rent, and other things the non wealthy need to do and struggle with. The $1000 goes into the local economy. The grocery store uses that $ to buy more stock. That's more $ into the local economy. The food supply company uses that money to buy produce from the farmers again the money is used again. That was a dumbed down version of how that works, I didn't factor in the wages the workers get pain which starts the cycle over again. To simplify it, every dollar that gets put into the economy is double, tripled and so on and so on.
- 1 decade ago
I'm no Obama fan but doesn't it make a little more sense to take more from those who have more rather than to take more from those who have less. I understand that there are a lot more people earning less than 250,000 dollars so I guess the real solution is to jack up taxes for the rich while leaving the tax level for those a little less fortunate right where it is. Besides, doesn't the government find a way to blow our tax money anyways.
- 1 decade ago
It is impossible for McCains tax breaks to work. This would mean we would be taxed at rate equal to those of the 1950's even before the expanded infrastructure in the US. Get real taxes are not the issue. Lets get jobs going for the short term and education to compete in the world and keep jobs in the US for the long term.
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- Anonymous1 decade ago
Because neocons are lying. The Republicans don't want voters to vote for Obama. They will do anything in their power to discredit him. Obama's tax plan will help the middle and lower class. Yes. Obama tax plan will tax people making $250,00 more and that's only 5% of Americans. McCain will help the wealthiest and big corporations like they have been doing the last eight years. The republican leadership just about ruin our nation. Look at the economy. Bush give big tax breaks to the rich and big corporations, big oil companies and ship jobs overseas. McCain wants to cointinue Bush failed economic policies. I was watching a special on CNN. Go to their website or Youtube and see it for yourself. CNN compare both candidates tax plan and Obama came out better. In truth both candidates stretch the truth a little bit. In reality Obama's tax plan will help 80% of Americans but is still better than McCain. Plus, McCain wants you to pay taxes on your health care insurance. (=
McCain flat-out lie when they allege Sen. Barack Obama’s proposed economic plan would raise taxes on millions of working families. In reality, his plan would give tax cuts to nearly all working families.
OBAMA V. MCCAIN ON MIDDLE CLASS
McCain is “more of the same on steroids,” McCaskill said, adding, “The sooner the American public gets to the facts; they’ll realize finally they’ll have a champion” in Sen. Obama. She added that McCain's plan would help those at the very top20of the economic ladder, the "thinnest sliver" of people.
McCaskill called Obama middle-class tax cut “massive” and stressed that those making “under $150,000 a year would see no tax increase of any kind” -- not payroll tax, not capital gains, “not a single tax,” Hodes said.
“I want to clear up any misconception that Sen. Obama is proposing an across-the-board capital gains tax,” Hodes said, adding that only those making $250,000 or more a year would see a capital gains tax increase. Hodes said for families making up to $100,000, they could expect to see a $1,300 decrease in their taxes.
The truth is Obama's tax plan is better according to CNNSource(s): If you repeat a lie often enough some peole will start to beleive it.
- oliver_a2002Lv 61 decade ago
The additional taxes at this level will eliminate a large pool of funds normally used for investment, and funding of small buisnesses.
Small buisness is the largest creater of new jobs in the economy. We need increased investment in this sector to offset the effects of increase the minimum wage.
Also, we already have the heaviest taxes on buisness in the free world. This will have the eefeect of increaseing these taxes even more. and, you know buisnesses donot pay taxes, their customers pay them. So ultimately all consummers will pay the taxes, not the rich.
- bksamzLv 51 decade ago
Some people don't get it, they think like McNut, if he becomes our leader he'll raise taxes too, he has to it's the only way out of this mess he an his cronies created. So don't let him fool you, he'll be the first to do that, he thinks the American people are stupid. Vote Obama/Biden 08
- jondsLv 71 decade ago
My wife and I paid almost 11,000 in State and Federal taxes last year on an income of less than 80,000. I am still waiting for my tax break.
- AndrewMLv 71 decade ago
They're upset about it because that's who the conservatives care about... the wealthy and corporations, not the average American.
- aiminhigh24u2Lv 61 decade ago
Because it is a flat out lie. He has all ready stated hat he will let resident Bush's tax cuts expire so the tax percentages will change for all. He also wants to raise corporate taxes which the companies will raise teir prices to pass those higher taxes onto the consumer. Obama is the worst of the tax and spend Democrats