Obama : the wealthiest 1 percent of taxpayers, those making roughly $600,000 or more, would see their taxes go up on average by $93,709 in 2009 ( 1% people, of the richly-rich elitists )
McCain : those same taxpayers would see an average reduction of only $48,860, reflecting in part additional cuts he is proposing. (paying off favors no doubt under the guise of the trickle down economy theory, how’s that worked for you over the last 8 years?)
Obama: The bottom 20 percent of taxpayers, those with taxable income of roughly $19,000 per year or less, would see their taxes cut by an average of $567
McCain: $21 under McCain's plan for the same 20% low income Americans (wow, $21 bucks – what, that’s about 5 gallons of gas a year? Ooh, thanks)
Obama: the 20 percent of taxpayers right in the middle of the income scale, making roughly between $37,600 and $66,400, the tax break would be $1,118 (this is where I am. Sounds good to me … will go toward my property taxes)
McCain: only $325 for the same 20% of the middle class Americans. ( that’s not even enough for a studio apartment rent for a month, I wonder if I could rent out a closet in one of his houses)
Obama: National Debt will go up $3.5 trillion (ouch)
McCain: National Debt will go up $5 trillion (super ouch)
Face it, somewhere down the line there will need to be increased taxes and a big cut in spending. Of course it would help to get people back to work, and take a closer look at mortgage practices, and oh .. I don’t know, perhaps being innovative and fair with trade balances, energy sources and immagration. THINK people, demand a plan!
Regardless of the tax cuts, the truth is: "We are starting out with very big deficits, and the demographics are turning more unfavorable with all the baby boomer retirements," said Nigel Gault, senior economist at Global Insight, a Lexington, Mass., forecasting firm. "The deeper you get into the next presidency, the more likelihood that taxes will have to be raised."
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