Obama and McCain Tax Proposals

According to a new analysis by the Tax Policy Center, a joint project of the Urban Institute and the Brookings Institution, Democrat Barack Obama and Republican John McCain are both proposing tax plans that would result in cuts for most American families. Obama's plan gives the biggest cuts to those who make the least, while McCain would give the largest cuts to the very wealthy. For the approximately 147,000families that make up the top 0.1 percent of the income scale, the difference between the two plans is stark. While McCain offers a $269,364 tax cut, Obama would raise their taxes, on average, by $701,885 - a difference of nearly $1 million.

Regardless of what plan the voter agrees with, they should have the facts. There is a lot of misleading facts circulating around in the media. Many Republicans, including both John McCain and Sarah Palin, attack Barack Obama for wanting to raise taxes. While this is true for some Americans, it is not true for the majority of the American populace. Not only is claiming that Obama will raise taxes misleading, but many Republicans claim that he will be raising taxes on the middle-class, on hard working blue collar Americans. I'm not sure what Republicans consider to be midde class, but I don't think it is individuals who make six figures. Get the facts, and make your decision on which plan you believe will work the best, try and ignore all the spin and mistruths aimed at winning election through confusing the public.

Seth Lovell