Obama wants to give $80 Billion in tax relief

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    Obama wants to give $80 Billion in tax relief

    I like how they don't say raise taxes but rather take back the tax breaks. I do think the $50,000 and seniors idea is a great idea.

    http://www.usatoday.com/news/politic...tax-plan_N.htm

    WASHINGTON (AP) Expanding on his anti-Washington theme, Democratic presidential candidate Barack Obama said Tuesday that he would take back tax breaks from monied interests to provide $80 billion annually in relief for workers, seniors and homeowners.

    Obama's plan was short on some specifics. But he said he would give 150 million workers a $500 payroll tax credit, expand relief on mortgage interest, eliminate income taxes for seniors making less than $50,000 and simplify returns so millions can file in less than five minutes.

    Obama's advisers say they have more than enough revenue from other sources to pay for his health care plan and the capital gains and dividends increase can be used in part to fund the tax plan.
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    Quote Originally Posted by ladiesbballcoach
    I like how they don't say raise taxes but rather take back the tax breaks. I do think the $50,000 and seniors idea is a great idea.

    http://www.usatoday.com/news/politic...tax-plan_N.htm

    WASHINGTON (AP) Expanding on his anti-Washington theme, Democratic presidential candidate Barack Obama said Tuesday that he would take back tax breaks from monied interests to provide $80 billion annually in relief for workers, seniors and homeowners.

    Obama's plan was short on some specifics. But he said he would give 150 million workers a $500 payroll tax credit, expand relief on mortgage interest, eliminate income taxes for seniors making less than $50,000 and simplify returns so millions can file in less than five minutes.

    Obama's advisers say they have more than enough revenue from other sources to pay for his health care plan and the capital gains and dividends increase can be used in part to fund the tax plan.
    Should I change the thread title?

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    Quote Originally Posted by rockmom
    Should I change the thread title?
    Yeah, when I read the title I thought "$80? What the...?"

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    Quote Originally Posted by rockmom
    Should I change the thread title?
    I wa going to say, "Wow! How big of him..."

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    I think LBBC is becoming a member of the liberal media.

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    Of course, $80 might make him a fiscal conservative.

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    Quote Originally Posted by cshs81
    Of course, $80 might make him a fiscal conservative.

    True...therefore swinging some crucial middle-road republicans to vote for him.

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    Would someone add an B for me.

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    Quote Originally Posted by ladiesbballcoach
    Would someone add an B for me.
    I did...but it was much more fun the other way.

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    Quote Originally Posted by rockmom
    I did...but it was much more fun the other way.
    Probably generated a lot more posts than this way.

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    Quote Originally Posted by ladiesbballcoach
    I like how they don't say raise taxes but rather take back the tax breaks. I do think the $50,000 and seniors idea is a great idea.

    http://www.usatoday.com/news/politic...tax-plan_N.htm

    WASHINGTON (AP) Expanding on his anti-Washington theme, Democratic presidential candidate Barack Obama said Tuesday that he would take back tax breaks from monied interests to provide $80 billion annually in relief for workers, seniors and homeowners.

    Obama's plan was short on some specifics. But he said he would give 150 million workers a $500 payroll tax credit, expand relief on mortgage interest, eliminate income taxes for seniors making less than $50,000 and simplify returns so millions can file in less than five minutes.

    Obama's advisers say they have more than enough revenue from other sources to pay for his health care plan and the capital gains and dividends increase can be used in part to fund the tax plan.
    Why should seniors earning less than $50,000 pay no taxes? Payroll tax credit? Does he mean social security? Sure, we can afford to take 75 billion out of social security, can't we?

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    At what age does one become a senior?

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    Quote Originally Posted by Pepper II
    At what age does one become a senior?
    I always thought it was like 65. Never gave it much thought myself, I'm not even half way there yet.

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    If you're going to be 55 this year, you will not be able to collect full SSI until you are 66. If that what Obama considers senior then that's the mark. However, the article did say the proposal was lacking in the specifics department.

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    Quote Originally Posted by swamprat
    If you're going to be 55 this year, you will not be able to collect full SSI until you are 66. If that what Obama considers senior then that's the mark. However, the article did say the proposal was lacking in the specifics department.
    It's 67.

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