Is Barrack Obama going to CUT taxes? Or give everyone a TAX CREDIT?

beacuse these 2 things not same.

top 10 percent of income earners in country pay 71 percent of federal income taxes, though earn 39 percent of nation's pretax income.

thirty years of republican tax policy have eliminated federal income taxes on poor , lower middle-income americans, , eliminated them on middle america.

latest data congressional budget office , internal revenue service show lowest 40 percent of income earners group receive net payments federal income tax system. (they 3.8 percent of total federal income tax revenues instead of paying income taxes.) middle 20 percent of income earners pay 4.4 percent of federal income taxes. bottom 60 percent of income earners together, on net, pay less 1 percent of federal income taxes.

obama end bush tax cuts , allow top 2 tax rates return 36 , 39.6 percent. allow personal exemptions , deductions phased out income on $250,000. end social security payroll tax cap on $250,000 in earnings. (the cap set @ $102,000.) these individuals face tax rate of 15.65 percent payroll taxes , top income tax rate of 39.6 percent combined top rate of on 56 percent on each additional dollar earned.
, doesn't include state , local taxes!

obama calling tax cuts middle class slew of refundable federal income tax credits go paying little or no federal income taxes now. such credits not reduce tax liability, instead checks federal government child care, education, housing, retirement, health care, outright giveaways. these not tax cuts. new federal spending programs hidden in tax code. going pay it? rich??

not likely! @ 56% tax rate, i'm moving money offshore!

many individuals attempt transfer compensation wages capital gains, since capital gains taxed @ 25 percent, or less half of top rate on wages. put great deal of pressure on company make stock increase in value. other individuals try incorporate pay business taxes instead of having pay taxes on wages. again, these resources diverted away more productive uses , slow economy.

high tax rates encourage capital , income flight lower-taxed areas. there ample evidence in united states of individuals , businesses moving states such florida or delaware take advantage of tax-friendly laws. higher federal tax rate encourage individuals move assets abroad take advantage of lower tax rates in countries such canada, france, , great britain.

i've read obama's tax plan on site. there no tax cuts!! no tax rates lowered!! these tax credits has pay for. conservatives call "redistribution of wealth."

beacuse these 2 things not same. top 10 percent of income earners in country pay 71 percent of federal income taxes, though earn 39 percent of nation's pretax income. thirty years of republican tax policy have eliminated federal income taxes on poor and...

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