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Originally Posted by hambirg  He can promise that he won't raise taxes on those making less than $250,000/ yr. . .the part Obama is hoping people are too stupid to figure out is that when he lets the Bush tax cuts expire in 2 yrs (of course it will have to be approved by Congress, but that is his plan). . .EVERYBODYS taxes will increase.
I took this from another board. . .but run your own numbers: Check this for yourself. Go to Forms and Publications and pull up the 1040 instructions for 2000 and 2007 and go to the tax tables. Based on your 2007 income, check your taxes rates for 2000 and 2007, and apply them to your taxable income for 2007. In 2000 -- Senator Obama's benchmark year -- you would have paid significantly more taxes for the income you earned in 2007. The Bush Tax Cuts, which Senator Obama has said he will allow to lapse, saved you money, and without those cuts, your taxes will go back up to the 2000 level. Senator Obama doesn't call it a "tax increase," but your taxes under "President" Obama will increase -- significantly. |
You know, no one wants their taxes raised but if I have to pay more to help fellow Americans and help us out of this crisis, I will gladly. Isn't that what was posted on this board a few weeks ago...everyone chip in a certain amount and we can knock out the deficit?
I don't think that my taxes will go up but if they do and I see a better America with more opportunity for everyone, and not just the top 3%, I wll be happy.