Comments on: McCain Goes After Obama on Taxes

By: Charles

Charles — Wed, 22 Oct 2008 19:32:52 +0000

Obama’s tax plan will destroy the Social Security system.

Obama says his income tax plan will lower taxes for 95% of Americans. There is just one problem with this, 40% of Americans already pay no income tax. Obama’s response to this is that these people pay Social Security tax. Well, that’s not income tax, but a contribution to their retirement plan. So if he wins and implements his tax plan, for the first time in the history of Social Security, 40% of the people who will get retirement benefits will have paid nothing for them. Social Security will then loose all pretext of being a retirement plan, and will become a national welfare program.

This will cause Social Security to lose public support in a massive way. Leave Social Security contributions out of income tax plans. If you take some peoples income taxes to pay others Social Security taxes, Social Security will be destroyed forever.

http://strategicthought-charles77.blogspot.com/2008/10/obamas-tax-plan-will-destroy-social.html

By: Sam

Sam — Sat, 18 Oct 2008 20:14:36 +0000

I’m and independent, yet I don’t envision Obama utilizing supply-side economics. His capital gains tax hike will most likely drive down stock prices, discourage investment, and deepen the recession. His ideaology is too socialistic, it goes against the very principles of our founding fathers, hence the very reason we sought independence from England. This is the land of opportunity and choices.

By: Anna B

Anna B — Sat, 18 Oct 2008 17:45:38 +0000

David, you and your “hand out” breatheran are idiots! What the Obama plan does is make the rich, rich and corporations pay their fair share again … isn’t it obvious enough that the republican “trickle down” economics is not working …
are they tricking DOWN to you … or are you one of the rich Haves that just keep getting richer. I guess the latter.

By: Anna B

Anna B — Sat, 18 Oct 2008 17:42:38 +0000

JH — go please! We’ve lost plenting of jobs over the past eight years to outsourcing under Bush policies, so I’m sure it will all balance out … wah, wah – I’m leaving the country … typical republican sore loser! Betcha you won’t leave anyway (wink, wink – sarah palin style!)

By: JH

JH — Sat, 18 Oct 2008 07:37:33 +0000

My company is already incorporating offshoring for fiscal year 2009. Obama advocates just don’t get it, companies will move production facilities to places that will yield the most profit. Go ahead and raise capital gains tax in the U.S., we will just go elsewhere where taxes are lower, and if off-shoring is not a possibility, we’ll pass the cost of the tax increase on to the consumer. Keep a close eye on the CPI index in the coming years, Obama advocates.

By: David

David — Sat, 18 Oct 2008 04:55:00 +0000

The 95% figure relies on an odd definition of “lower your taxes.” If my taxes are 0, they cannot be lowered. What Obama does is give a hand-out [which Americans hate!] and say that he is “lowering” their tax.

By: BenG

BenG — Sat, 18 Oct 2008 03:57:24 +0000

Justin,

There’s enough groups- (CBS news, NY Times editorial) that are showing comparisons of both tax plans with wage earners throughout the tax bracket range that anyone who wants to see where they’d stand could easily find out. Oh, and they verify that what Obama is claiming is true, so it just matters what’s important to you. Should people making over $250k pay more taxes to help lower the burden of the other 95% of us? While the Repubs claim this is redistributing the wealth unfairly, punishing success, rewarding failure, Dems are fighting back.

I heard Joe Biden say that the true redistribution of wealth has been taking place over the previous 8 years – and it’s been in the other direction – for the rich! He then went on to list the statistics of how much wealthier the top tax bracket folks have become as compared to the rest of us who have stagnated wages or worse. It’s time for everyone to decide what’s in their best interest. Trickle down economy or, as Obama puts it, bottom up. I’ll pour myself a cold one and say “bottoms up”.

By: Joshua

Joshua — Sat, 18 Oct 2008 00:32:46 +0000

Clarification: More than they distrust McCain, that is.

By: Joshua

Joshua — Sat, 18 Oct 2008 00:31:27 +0000

As I mentioned during the last debate thread, McCain’s only viable option now is to simply rally the Republican base and hope they still fear an Obama presidency (or at least an Obama presidency coupled with a Democratic Congress) more than they distrust him, to the degree that many on the Right still do. Sounds like that’s exactly what he’s doing here.