With all the yip yap from our "low information" rightwing brethren about how "Obama will raise my taxes", your friendly free-thinkers here at Rockdem decided to help cut through the nonsense. Because really, the average middle-class Joe, or Jane will see a net decrease in their federal income taxes under President Barack Obama! That's right, a tax cut!
We talked about this before here, but now we are going to let you calculate your Obama tax cut in the comfort of your own home. Simply take this link, insert your gross income, number of dependent children, and filling status (single, married) and Bam! The truth will set you free!
Now you know.
How does Obama do this? He fixes Bush /McCain's Federal tax rates that have allowed the richest Americans, the top 1% of income earners (>$1.5 million) to have a tax rate (17%) that is about half of what the average middle class wage earner pays (30%) . So while the super wealthy have seen their income grow at rates not seen since before the Great Depression, the average worker has seen a net decrease in earnings of $2,000 during the Bush years. Read that sentence again.
We need change. And John McCain (who opposed the Bush tax cuts, before he favored them) has said he likes tax rates just the way they are. No change for the maverick! Him and his heiress, 7 homes and all.
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6 comments:
Barack Obama will lower taxes for 95% of all Americans. That's change you can believe in my friends!
like anybody can believe a "brutha"
your "boy" is gonna loose!
back to the carwash homey
Bubby said...
Barack Obama will lower taxes for 95% of all Americans. That's change you can believe in my friends!
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That will upset the wealthiest 5% and the Wal-Mart bubbas that pay their way.
Thanks for this calculator Bubby.
Should open some folk's eyes, if they're willing to see that is...
Some of our opponents prefer to feeeel, and be led by their masters. Free thinking is so hard, and scarry you know!
Obama's "tax cut" isn't a tax cut at all. A real tax cut is a lowering of the PERCENTAGE that a person pays in taxes. What Obama is calling a tax cut is really a one time tax CREDIT and it has to be paid for by either budget cuts elsewhere or by raising taxes elsewhere. An actual tax cut isn't a one time thing and it doesn't reward people who pay no taxes in the first place (40% of Americans.) This is classic wealth redistribution, a Marxist principle.
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