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I thought what he campaigned on was that he would increase the capital gains and dividend taxes of families making more than that. He just got into office though, so give him a chance.
I thought what he campaigned on was that he would increase the capital gains and dividend taxes of families making more than that. He just got into office though, so give him a chance.
Yes. No one cares to research before they post, but Obama's promise was actually that he would not raise taxes on anyone making less than $250k, and that 95% of people making under $250k (basically people making $150k and less) would see a cut.
Here's an article from election time with his promise:
Quote:
"you're a family making less than $250,000 a year, you will not see your taxes go up."
McCain and Obama tax plans diverge on wealth - Los Angeles Times (http://www.latimes.com/news/printedition/front/la-na-taxplans21-2008aug21,0,5324692.story?page=2 - broken link)
Obama changed his mind.... he is allowing them to naturally expire in 2010... but I figure he might extend them again... but we will see... what I like to see is the AMT being fixed... it was never indexed to inflation so it is hitting middle class families now... its trigger point should changed and indexed to inflation... it seems like such an easy fix... the Democrats don't like it... they want middle class to pay for welfare policies... and they SHOULD! Lets see how much middle class likes paying something that other people have to pay.... let them have it!!!
It wasn't tax cuts under $250k, it was under $150k cuts, under $250k you will not have taxes raised.
This is a new low for you. Of course he said everyone making under $250K will get a tax cut - it is all over the news, in videos, in the debates, in clip after clip - that is what he said.
Quote:
Per the Tax Policy Center, here is how Obama's tax plan breaks down for individuals:
$0-$18,891 = $567 tax cut
$18,982-$37,595 = $892 tax cut
$37,596-$66,354 = $1,118 tax cut
$66,355-$111,645 = $1,264 tax cut
$111,646-$160,972 = $2,135 tax cut
$160,973-$226,918 = $2,796 tax cut
$226,919-$603,402 = $121 tax increase
$603,403-$2.87 million = $93,709 tax increase
$2.87 million-plus = $542,882 tax increase
"It's going to be a tax reduction on most people making under $250,000 a year," he said. "People making more than $250,000 a year will obviously see an increase in their taxes."
How soon we so conveniently, selectively forget his promises. And it's only been three weeks!
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