Liberal Values Defending Liberty and Enlightened Thought

5 Comments

1. 1

   

   Anonymous says:
   

   October 1st 2008 at 2:49 pm  

   Tax cuts are not coming…..from either candidate!  To do so would be completely irresponsible given the economic conditions we face.  Empty promises will come back to haunt the winner in 4 years.

2. 2

   

   Ron Chusid says:
   

   October 1st 2008 at 4:19 pm  

   This is possible true, although Republicans are claiming that tax cuts are what is needed to get us out of this mess. Obama has already stated he would have to scale back his plans due to the financial crisis. Regardless it is still significant to compare the tax policies of the two candidates. Among the important facts:

   Obama’s policy (regardless of whether he can still do this) is to reduce taxes for the middle class while McCain claims his plan is to raise taxes, indicating an outright lie on the part of the McCain campaign.

   Obama’s policies concentrate on comparatively lower rates for the middle class while McCain’s concentrate on tax breaks for the top one tenth of one percent. The middle class is better off under Obama regardless of whether he can come through with the tax cut.

   McCain’s promised tax cuts, concentrated on the top one tenth of one percent, would create a much larger increase in the deficit than Obama’s plans would. If McCain has to scale back his plans, it is most likely the middle class who would be hurt the most and be less likely to see a cut.

3. 3

   

   Steve Bell says:
   

   October 1st 2008 at 9:29 pm  

   Regarding Mr. Obama and taxation, I did hear with my own ears or see with my own eyes that Mr. Obama intends to raise the capital gains tax because at the present level it is “unfair”.  He maintained this position even though it is a known fact that more money hits government coffers with a lower tax rate than a higher one.  Isn’t this the classic cutting off of one’s nose to spite one’s face?  I think the record also shows that he intends to increase FICA taxes across the board.  He also intends to raise business taxes and to take from the rich to give to the poor.  The only problem is, it is capital formation and concentrations of wealth that have given this country the opportunity to prosper and take a preeminent place in the world.  No, we can’t all be rich, but, as the old saw goes, a rising tide lifts all boats.  I’ve seen poverty from repressive regimes where there is no great capital in private hands and the govenment is big brother.  We all get to be poor together, amen.

4. 4

   

   Ron Chusid says:
   

   October 1st 2008 at 9:53 pm  

   Steve,

   That is totally incorrect. First of all it is untrue that lower rate bring in more revenue.  Secondly he is not doing it because it is “unfair.” What he calls “unfair” is that tax breaks under Bush and McCain are primarily going to those in the top one tenth of one percent, as opposed to the middle class. Obama also plans on raising the rate, only for those with incomes over $250,000, to 20% which is well below what it was under Ronald Reagan. If Obama is “Big Brother” then who is Ronald Reagan, who taxed at a higher rate?

   Obama does not support increasing FICA taxes across the board. He only plans on increasing them for those with incomes over $250,000.

   Obama does not advocate an increase in business taxes. He has actually advocated a cut in business taxes.

   McCain’s tax plans concentrate the wealth in a small number of people, penalizing the people who really create goods and create wealth in a capitalist system.

5. 5

   

   DLinton says:
   

   October 2nd 2008 at 6:52 pm  

   John McCain co-sponsored the Family Friendly Workplace Act, which sought to allow employers to provide flexible work schedules to help employees balance the demands and needs of work and family, such as allowing employees to take compensatory time-off rather than be paid overtime and to work more than 40 hours in one week and correspondingly less in another week.