why do people complain about paying taxes, taxes are going to rise either way?
Both McCain and Obama will have to raise taxes to pay for programs for which the public is clamoring, whether those programs are universal health insu...
Both McCain and Obama will have to raise taxes to pay for programs for which the public is clamoring, whether those programs are universal health insurance, expanding the military, trying to retire the national debt, or simply trying to balance the budget.
McCain proposes to increase your tax exemption for children by something like 5/year. That’s it, if you have children you get something, otherwise not. This will increase the deficit.
McCain proposes a 00-00 "refundable" tax credit for the purchase of health insurance while apparently proposing, as I understand it, eliminating the deduction for employer provided health insurance. This is a tax increase for business to pay for a tax benefit to the public. This is, ostensibly deficit neutral.
McCain will cut the corporate tax rate from 35% to 25%. This is proposed to keep American companies on shore and to stimulate the economy. This will not keep companies on shore because the 10% tax savings on profits is miniscule compared to the as much as 80% operating cost savings of exploitation of cheap foreign labor. And since most corporations do not pay any taxes due to loopholes it is ridiculous. All that will happen is that those that are paying taxes domestically will pay less and increase the deficit.
All of this tinkering with tax cuts will result in a net tax increase because a higher percentage of the operation of government will be placed on your credit card.
Obama’s plan, a tax cut for the middle class, should be offset by rolling back the Bush 43 tax cuts for the wealthy. Curtailing tax loopholes for companies operating offshore will have far reaching effects including reducing the deficit. As far as funding for new programs goes, there is little doubt that these, like universal healthcare or improving public education and tuition programs, will go on your nation’s credit card.
What’s in it for me? After all, I’m paying for it.
Your taxes are going to go up with either Obama or McCain. For whom you vote, if that is your issue, depends entirely on how much they will go up and/or what you will get in return
Unfortunately your assessment is correct. It is unrealistic to think that we will dig ourselves out of this fiscal hole solely through spending cuts. The reason Democrats like Bill Clinton are the only ones who have successfully managed to balance the federal budget is that they were willing to raise taxes. I feel comfortable enough that Obama will not raise taxes on the people who can least afford it, while McCain lives in a fantasy land where tax cuts for the rich will somehow fix the budget (along with a paltry $18 billion a year in earmarks).
I’m not voting for higher taxes. I’m not voting for a racist. I’m not voting for a Marxist. I’m not voting for universal health care. I’m not voting for a political party. I’m voting for Ron Paul.
I agree with your points on specifics, but as an electorate we can’t anticipate every decision that a President might make over a four year term………….and neither can those candidates. To me, it is about philosophy. Obama is for bigger government. McCain for smaller government. To me, pardon me for greatly oversimplifying it, but that translates to an overall lower tax burden under a Republican Administration. Therefore that is whom I support.
Obama’s brand of government works very well. Just ask people over the age of 40 in Moscow and Berlin. I don’t think anybody under the age of 30 in this country grasps anything about the realities of socialism and Marxism.
What I don’t understand is how, all of the Obama supporters are hanging on for Health Care. There is no money for that luxury. And if there was, Socialized Health Care, will cost them 50% of their income in taxes. Whoever wins, won’t be able to spend a dime, for at least 2 years. Unless its Obama, and we won’t be here in two years, so we won’t have to worry.Democrat for McCain/Palin 2008.
Taxes are going to raise extremely high if Obama gets into office. He has too many things he wants to fund. Bigger government. He says he will make the businesses pay for the majority of it, but Im telling you, when my company does well, i get good raises, OT and do very well. When my company doesnt do well (or will be taxed thousands or millions of dollars more) they will LAY OFF employees, freeze wages, cut benefits, etc. I want my company to do well so inturn i will do well too.