However, using the figures as a base reference for the general trend either candidate would take, I must admit I prefer Obama’s policy to McCain. As has been stated, the upper class do pay the majority of our taxes. However, they are also earning the vast majority of money. 1% of our populace earns more than the other 99% combined. While in many cases I would consider this a reward for hard work and achievement, I cannot support the idea that a change from a take home of 1.49 million to 1.23 million is a major issue. While that is a large amount of money, when compared to the cost of living, it is non-existent. Whereas a change from $30,800 to $32,120 is a major change.

The other argument I have is based on an overall tax cut of a little over 2% on McCains plan, with only a 0.3% on Obamas. Either candidate is going to continue deficit spending, but the tax impact is minimized on Obamas side.

They consider themselves “compassionate Christians” but yet are stupified about helping fellow citizens in times of disaster and attend church less than Liberal friends. The Liberals in fact left their administration in the black and chose to help the citizens of their country with the money they did spend. They helped the U.S. economy and the ability to buy homes. We have owned a small business for 30 years and found we only got a small group policy thanks to Hillary Clinton’s health insurance proposals of the 90s that does not let small groups business of 2 or more use pre-existing illnesses against them. Thank you Democrats–that is money I can use elsewhere in our business in stead of paying horrendous health premiums.

Please review your stereotype of Democrat and Republicans. Do not be afraid to visit other nonpartisan websites or snopes.com and educate yourself. You may find your party is not what it seems. From Republican to now Democrat, that is what I found. No longer can I subscribe to the politics of the Republican party.

1. Non-partisan does not equal unbiased or objective. If just mean that they aren’t as a group affiliated with a political party.

2. We would all be better served if “think tanks” or “policy centers” were identified as “liberal” or “conservative” or some other term to identify their philosophical point of view or values. They all have them and it affects what they view as “good” and “bad” and how they weigh the merits of proposals.

3. To evaluate any proposal on whether it benefits you personally doesn’t reflect good public policy, especially so when it relates to how it affects you TODAY as opposed to tomorrow and beyond.

4. There is no end to proposals that won’t tax you or me but just the man behind the tree.

5. I have seen the analyses that show how much of tax revenues are collected on a percentage basis from the top 1% and top 10% pay vs the bottom 50%. Without looking determine what you think would be “fair”, then look up the numbers and see if the numbers meet your pre-detemined sense of fairness.

6. If the top 5% pay 30 % of the taxes would that be enough? 50%? Would that be fair? Would that be the right public policy? If the current system met your pre-determined sense of fairness and you were surprised by the answer, would it change your mind about proposals to increase the percentage? If not, why not?

Those poorer people pay less tax percentage wise, but look at how few dollars they make and have to live off of. Those at the higher end of the scale have benefited more from the infrastructure provided by our government so they should be happy to pay out more in return. Also, those at the higher end of the scale may have worked hard to get what they have, but so have many people at the middle and bottom end of the scale. Warren Buffett and Bill Gates have even publicly stated that they don’t pay enough tax. A person making $600K per year will not suffer with $70K extra in taxes as much as thirty-five people making $20K would benefit from paying $2,000 less in taxes. Those tax amount changes would balance each other out. And why should capital gains be taxed less than income? Poorer people can’t afford to invest in stocks in order to get taxed at the lower rate whereas wealthier people do this all the time. This is unjust.

I think the ultimate solution is a flat tax at let’s say 20%, but one with a huge standard deduction, like $25,000 and few deductions except for things like education and medical expenses. Our country is an expensive war and we need infrastructure development and perhaps government programs to fund alternative energy technologies. Since the rich are most able to help, shouldn’t they bear more of the burden? And in the end, everyone wins because fewer people struggle, more are able to feed themselves, own homes, buy things, and support business with commerce. I would theorize that crime goes down too when the lower income brackets can afford to live better too.

UH2L

http://blog.washingtonpost.com/the-trail/2008/06/12/mccains_tax_plan_aids_wealthy.html

Income Current Tax Rate Current Taxes % Total Taxes
$8,025.0 10% $802.50 0.15%
$32,550.0 15% $5,685.00 1.07%
$78,850.0 25% $25,397.50 4.77%
$164,550.0 28% $71,471.50 13.43%
$357,700.0 33% $189,512.50 35.61%
$500,000.0 35% $239,317.50 44.97%
Total $532,186.50 100.00%

Given that, although I can appreciate the concern about our run away government spending, I think as personal financial experts always say – there is good debt and bad debt. The war in Iraq is an incredibly significant part of our govt budget – your personal opinion on the worthiness of the war will determine how you feel about that and I have no comment to add.

My real point is regarding the incredible need we have for rebuilding our infrastructure in America. We are riding on a network of highways and bridges built over 40-60 years ago in many cases. Our public education is suffering a great deal as well. Finally, in 2005 New Orleans and surrounding areas suffered a great deal and during the last week I believe a dam in the Midwest broke causing flooding. It appears our aging dams and systems in place are quickly crumbling each summer with new adverse weather events. Again – imagine the employment we could provide.

Reports yesterday indicate China has tripled their capacity to produce energy via wind I believe and that they anticipate being up to 20,000 megawatts by 2020. We could go a long way toward reducing the burden of the rising fuel costs if we shifted to a “home grown” resource.

So, while I would love to see lower taxes, I would prefer to see Americans EMPLOYED, which will increase tax revenue, to rebuild our infrastructure and pave the way for a new direction in a GREEN economy. We tried the trickle down economy in the 80s, the 90s were the age of the entrepreneurs, maybe we could close out this decade with a trickle up approach – starting with well paid jobs for American workers in our quest for a green economy and improving the infrastructure, and reinvestment in public education.