Obama supporters: How will Obama's tax plan benefit me?, page


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reply posted on 18-10-2008 @ 09:51 PM by jam321
have you tried this calculator. Looks like it is from Obama site. I know it is just a rough estimate.

I plugged in 30,000 single 2 dependents and it showed McCain would save me more.


"Senator Obama's new and expanded tax credits for low-income taxpayers will certainly cut taxes for low-income people," explains Carroll, "but the credits are mostly recaptured from middle-income taxpayers. During this phase-out range, marginal tax rates shoot up, causing economically damaging side effects. As a result, for example, a family of four in the $30,000-to-$43,000 range would discover that for every additional dollar they earn, they pay more than 50 cents in income tax."


source

If you are a low income taxpayer his plan may help you. But if the past is an indication, it usually helps low income family with kids more.

By the way not an Obama supporter but sure is plan will benefit some people but not everyone he claims.



reply posted on 18-10-2008 @ 10:33 PM by JaxonRoberts
Obama plans on closing the loopholes that those who make over $250,000 per year. For many years, tax breaks and loopholes have been given to those that are wealthy, while those of us on the lower end have seen no real tax relief. His tax proposals are aimed to make the wealthy pay their fair share. Basically, the more you make, the more you pay. Someone in your (and my) position would tend to benefit from this. Personally, I'm in favor of a straight percentage with no deductions for everyone, but that's never gonna happen. So between the two, I'd rather have the loopholes closed for the rich. Since I've read your results on the issues thread, and you are a Constitutionalist, you need to look very closely who the Republican party really panders to on the issues of taxes. Trickle down just doesn't work and it's just unfair to those on who's backs the rich became rich. If your big issue is taxes this election cycle, McCain is not your man! There is no perfect party or perfect candidate, you just have to figure out who's the best candidate for that time. Overall, Democrats are good for the economy and Republicans are good for foreign policy. I say that as someone who has been through almost 30 years of voting. I voted for Reagan because he was the right candidate for that time. Right now, we need a good candidate for the economy. It's never good to keep one party in power for too long, and it's time for a change. Four to eight years from now, I might feel a little more to the right, but right now, I'm feeling a little more to the left.


reply posted on 18-10-2008 @ 10:46 PM by jam321
reply to post by JaxonRoberts



I see where your coming from but I don't see it happening. First of all most of Congress and their friends they hang around with are freaking rich. I can't see them slamming themselves the way Obama speaks. Furthermore the wealthy have the resources to get the best accountants and find the gray areas that Congress always seem to leave in place. I could see Congress writing a tax the wealthy bill and alerting the wealthy what to do with their money before the bill even ever becomes law. Which leads to this. Once the wealthy figure out that the tax system has them beat they will transfer their wealth to other places where they aren't hit as bad. This latter part would be bad for our economy. Point blank, the wealthy have resources to avoid paying taxes they don't want to pay. They also have the resources to continue to get richer.


reply posted on 18-10-2008 @ 10:52 PM by JaxonRoberts
reply to post by jam321



In that case, we are doomed and nothing is ever going to change. I refuse to believe that.


reply posted on 19-10-2008 @ 10:37 AM by Open_Minded Skeptic
reply to post by jam321



Thanks for the calculator link... that's cool...

I plugged in my stats, and Obama's plan will save me ~$1400 while McCain's saves me 0.

Interestingly enough, when I changed the input to say I have two kids (I have 0), then McCain's plan did save me some, but still less than Obama's.

This is one of my pet peeves with politicans... that they are always going on about tax breaks for breeders, as if there aren't too many people in the world already.

And those of us who chose not to contribute to the overpopulation end up on the short end of the stick.

But Obama's plan as demonstrated by this calculator does not do that.

Another reason to support Obama.

(Edit to fix spelling)

[edit on 19-10-2008 by Open_Minded Skeptic]


reply posted on 19-10-2008 @ 05:13 PM by Benevolent Heretic
Originally posted by AndrewTB
How will voting Obama help me?


This chart is from
Source



It only shows your income and doesn't take financial aid or schooling into account. You would be more accurate to get the number from the calculator above. That's pretty cool.

OMS, right on about breeders! I'm tired of not getting advantages just because I'm not breeding!


reply posted on 19-10-2008 @ 05:47 PM by Bunch
reply to post by AndrewTB



I suggest you inform youself.

Not trying to be snide in anyway,if you go to the Obama website all the info about his taxplan is there,if you like what you read then you should consider a vote for him. If you can find the information you need, then too bad for Obama for not been specific about his plan.

The thing is that different people have different needs and ideals, a person in your situation might feel great about getting a tax refund of some sort, some other in your very situation might not like it on the grounds that is "money redistribution" it all depends what you call a benefit also.

So the only way you are going to know for sure is by look it up yourself and make an informed decision.


reply posted on 19-10-2008 @ 05:51 PM by Bunch
reply to post by Fromabove



Try the look for information about keynesian economics and the trickle-down economic concepts, is really not that hard, and you should get an idea about what the two candidates propose in terms of the economy neither of which is socialism, but BOTH are far away from what an ideal capitalist society should be headed towards.


reply posted on 5-11-2008 @ 10:20 AM by Anonymous ATS
reply to post by Wise Dome



Do you know that this "$10 Billion" borrowing is going someplace. Its not as if America is losing this amount everymonth. It goes to pay soldiers salarys (helping mom's take care of kids), it pays for US workers to make equipment and munitions for the military. This spending isn't just burning money, it is "spreading the wealth". The war isn't costing us money, in fact it is keeping more US money in our economy.
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