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BLITZER: Listen to John McCain rail against Senator Obama on the issue of taxes. Because he says that, if Obama is elected president, taxes won't only go up for the wealthy, but they'll go up for the middle class as well. Listen to this.
BLITZER: That's going to scare a lot of voters out there.
VAN HOLLEN: But it's flat-out untrue. And people need to go and look at what Barack Obama is proposing. What he has proposed is a middle-class tax cut. People in the middle income category will get a tax cut. If you're over $250,000 a year, you may see your Bush tax breaks rolled back some.
So this is an issue where people have got to look at the facts. Because the Democrats have been pushing for AMT reform. We want to get rid of the alternative minimum tax. We want middle-class tax relief.
The Republicans, on the other hand, have focused on providing tax breaks to people at the very, very top.
BLITZER: A lot of middle-class families have investments where they get capital gains, where they get, you know, dividends. And he says, under Obama's proposals, they would be paying more tax.
VAN HOLLEN: Well, what Obama has said is that you shouldn't give a break to leisure over labor.
In other words, people who are making money simply by investing it, rather than through their work in the labor force, shouldn't be getting a break over the people who are going to work every day. That's essentially his position. And I think that makes sense to most people, that if you're working every day, you shouldn't carry a larger burden than other...
BLITZER: So you have no problem seeing the capital gains tax rate go up?
Because Obama has clearly suggested, if he had his way, it would go up.
VAN HOLLEN: Well, we're going to be looking at Senator Obama's proposal. We haven't adopted any particular position on that issue, in the House, as Democrats. But I just want to be clear that that's what he said.
Originally posted by Andrew E. Wiggin
I don't see how it punishes the middle class at all.....
i maybe missing something....
Obama is for the lower and middle class, atleast this is what i take from this thread from the OP
In addition to raising taxes on top-bracket capital gains and dividends, Mr. Obama said he would pay for his middle-class tax cuts by cutting out breaks for corporations and cracking down on the use by some multinational companies of so-called international tax havens to evade paying the IRS.
Originally posted by eric52081
Obama's tax plan and his wealth distribution plans is just away to take from the middle class and give to the people that live in the projects. Places like the 9th ward in New Orleans. The problem with these people that live in areas like this is that they are poor by choice.