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"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."
Originally posted by stikkinikki
Google is your friend people. Look these things up instead of settling for Ponderosa booth chit chat.
Originally posted by AndrewTB
How will voting Obama help me?