Many historians see little chance for McCain

[75center]

The difference will be that a Democrat is running the country. Something that the Republicans haven't done so well for the last 8 years. :laugh:

 

How's that democrat congress been doing the last year and a half? :laugh:

[UKMustangFan]

The reason I asked is a little above 75K for a family really isn't much these days and would nail most middle class families.

 

That's what I was thinking....Sounds like tax breaks for the poor to me.

[All Tell]

QUESTION:

 

HOW do people that in many cases don't even make enough money to pay taxes GET tax breaks?

 

A follow-up WHY do people who in many cases don't even make enough money to pay taxes NEED more tax breaks?

[True blue (and gold)]

__________________McCain_____________Obama

Income___________Avg. tax bill__________Avg. tax bill

Over $2.9M_______-$269,364___________ +$701,885

$603K and up_____ -$45,361____________ +$115,974

$227K-$603K_______-$7,871_____________ +$12

$161K-$227K_______-$4,380_____________-$2,789

$112K-$161K_______-$2,614_____________-$2,204

$66K-$112K________-$1,009_____________-$1,290

$38K-$66K_________-$319_______________-$1,042

$19K-$38K_________-$113_______________-$892

Under $19K_________-$19________________-$567

 

I took this from the "Tax" comparison thread, started by H, I believe. Isn't this what we are talking about?

[halfback20]

The reason I asked is a little above 75K for a family really isn't much these days and would nail most middle class families.

 

$75K for a family isn't much. But there are families out there expected to survive on their own with much much much less. What is the official poverty line for a household? Under $14,000 per year?

[halfback20]

That's what I was thinking....Sounds like tax breaks for the poor to me.

 

Obama has stated that he wouldn't raise taxes for people making under $200K. I believe I posted that somewhere here.

[All Tell]

I just heard an interesting piece on the radion last night.

 

Obama has proposed lifting the cap on social security salary that is taxed and matched by employers. Now lets say an employer has 5 employees that make more then the 100K cap. If the cap is lifted at just the 100K level that employers additional tax burden will be 60,000 dollars a year. How many people will lose their jobs because employers won't want to take on that additional tax burden?

[Xtiger69]

Had the Democrats not nominated the most liberal candidate in history, I would agree with the historians. If McCain was not so busy trying to move to Obama's left, the race would be his to lose. Drill here! Drill now! would be a winning campaign slogan.

 

I agree!

[Clyde]

I just heard an interesting piece on the radion last night.

 

Obama has proposed lifting the cap on social security salary that is taxed and matched by employers. Now lets say an employer has 5 employees that make more then the 100K cap. If the cap is lifted at just the 100K level that employers additional tax burden will be 60,000 dollars a year. How many people will lose their jobs because employers won't want to take on that additional tax burden?

 

 

Show me the math on how you came up with an additional $60k.

[Eaglebooster77]

No big surprise with these assertion since most collegiate professors lean to the left of liberal.

[Eaglebooster77]

How's that democrat congress been doing the last year and a half? :laugh:

 

Changing the way we do things in this country. Look at all the change they brought us:rolleyes:

[H]

So I was right, higher taxes and add to that socialist programs. Sounds just peachy.

 

The Tax Policy Center has already analyzed both candidates plans and determined that Obama would reduce taxes on everyone making less than $227K per year. See post #34. And people making between $227K and $603K would pay on average a whopping $1 more per month.

[owsleyking]

WOW..two sure things in one year...Big Brown and Obama!!!

[AcesFull]

QUESTION:

 

HOW do people that in many cases don't even make enough money to pay taxes GET tax breaks?

 

A follow-up WHY do people who in many cases don't even make enough money to pay taxes NEED more tax breaks?

In liberal Democrat parlance increases in the earned income tax credit that result in a net cash outlay by the federal government to people who pay no income taxes is equivalent to a tax cut. I do not believe that households with incomes under $19,000 pay income taxes, so I am pretty sure that both Obama and McCain are proposing more income redistribution, although Obama is proposing a much bigger transfer from income taxpayers to non-income taxpayers.