With election day drawing nearer (thank God!), there is just so much misinformation out there and headline breaking news that I'm not sure where to start. I guess I'll start with taxes, since it's such a hot button with Republicans.
A Republican friend of a friend on Facebook was arguing with my friend over Obama's tax plan. She stated what McCain and the other Republicans have been saying for a year. They are purposely twisting what Obama has said to make it seem like we are all being fooled and lied to by Obama. Just ask Joe the Plumber...McCain used him as an example to skew the truth and downright lie about Obama's plans to tax him.
What they (Republicans) are saying about Obama's tax plan is this: Everyone, businesses included, that make over $250K per year will be taxed more heavily than those making less than $250K. Their argument is that a good percentage of small business makes over $250K per year, which is true. However, when asked point blank on Larry King Live a while back, and also clarified during the debates and on http://www.barackobama.com/, Obama made it clear that he only plans on taxing the PERSONAL INCOME of individuals and families that make over $250K per year. In other words, a business can make over $250K per year and be taxed the same as other small businesses. However, if the owner or CEO or anyone else working for that small business takes home a PERSONAL income of over $250K per year, he or she will be taxed higher.
Now...I would bet that over 80% of Americans make less than $250K per year. Obama's plan is that no one making under $250K per year in PERSONAL INCOME will pay ANY federal income tax! The richest of the rich have been getting off easy under Republican rule due to Republican's belief in trickle down economics, which has been proven not to work. Can anyone who listens to the news and knows what has been happening with Enron, Lehman Bros, AIG, Fannie Mae, etc., etc., etc., say with a straight face that they believe that CEOs and other executives at large wealthy corporations will be thinking about their employees first if they have a banner year probably due to not paying any taxes? Not a chance! They are going to give themselves a huge bonus including free trips, homes, cash, cars, executive vacations at 5 star resorts (known as business trips by AIG execs), etc., etc., etc. Obama believes that the middle class (those with a personal income of less than $250K) deserve a break for a change! I think he's right!
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