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I don't know, maybe he was talking to a bunch of factory workers! (it was at the first debate)
Anyway he did overstate, here are the facts.
Tax Cut Recipients
Obama overstated how many people would save on taxes under his plan:
Obama: My definition – here's what I can tell the American people: 95 percent of you will get a tax cut. And if you make less than $250,000, less than a quarter-million dollars a year, then you will not see one dime's worth of tax increase.
That should be 95 percent of families, not 95 percent of "American people." An analysis by the Urban-Brookings Tax Policy Center found that Obama's plan would decrease taxes for 95.5 percent of families with children. Overall, 81.3 percent of households (http://www.factcheck.org/elections-2008/keeping_quiet.html%5D - broken link) would get a tax cut under his proposal.
he's gonna pay more tax.. i'd be more critical as well.
Funny how all of the Obama praises get posted on cd thousands of times, but let a critic be critical and all of a sudden its meaningless because there is motive behind it..
I don't know, maybe he was talking to a bunch of factory workers! (it was at the first debate)
Anyway he did overstate, here are the facts.
Tax Cut Recipients
Obama overstated how many people would save on taxes under his plan:
Obama: My definition – here's what I can tell the American people: 95 percent of you will get a tax cut. And if you make less than $250,000, less than a quarter-million dollars a year, then you will not see one dime's worth of tax increase.
That should be 95 percent of families, not 95 percent of "American people." An analysis by the Urban-Brookings Tax Policy Center found that Obama's plan would decrease taxes for 95.5 percent of families with children. Overall, 81.3 percent of households (http://www.factcheck.org/elections-2008/keeping_quiet.html%5D - broken link) would get a tax cut under his proposal.
As for those making less than $250,000 not seeing a "dime's worth of tax increase," technically some households or tax units that benefit little from Obama's individual tax cuts could pay more due to Obama's closing of what he calls corporate tax loopholes, under the assumption that owners of capital would bear such a tax increase.
This is not that significant a tax hike for those making under $250,000, but there are still some tax units or households making under $250,000 that could pay more in taxes under Obama's plan.
Warren Buffett thinks it's too conservative. Hmmm.
And if you dont understand why, you have done no research
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(it was at the first debate)
