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  #11  
Old 11-03-2008, 07:24 PM
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Quote:
Originally Posted by x5GuyInLA
So was Obama just blowing smoke up our asses when he said he would cut taxes for those making under $200K? I can understand the argument that Obama wasn't saying that he was going to give a tax break to those making under $250K, but now he's reducing that number. Haven't checked out the website, but my understanding from his commercials, it's under $200K. http://www.youtube.com/watch?v=z-SavgJlBLA. Skip to about the 30 second mark and you'll see the commercial. It's a right wing video, but the quote is straight from Obama's mouth. Another one... http://www.youtube.com/watch?v=sUomLMA3vVQ. Skip to about the 26 second mark.
Something just occured to me when I was watching those videos. There are tax differences for different amounts of dependents and whether you are single or married. A single person making $250k per year gets taxed differently than a family of 4 making the same amount.

So I played with the tax calculator at Obama's website, and here's what I found:

--Regardless of number of dependants or marriage status, if you make more than $250k, you get no tax cut -- these are the people that will get a tax increase of 3.6%, but keep in mind that the increase is only on the portion of your income that is over $250k

--If a married couple with or without kids makes between $150k and $200k, you get a tax cut

--A single person making between $150k and $200k does NOT get a tax cut

--A single person making under $150k gets a tax cut, assuming they count themselves as a dependant on their own tax return.

--A single person who does NOT count themselves as a dependant on their own tax return (i.e. a college-age kid living with their parents) making less than $100k gets a tax cut.


So that is where your $250k, $200k, $150k and $100k thresholds come from.
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  #12  
Old 11-03-2008, 07:51 PM
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Quote:
Originally Posted by Eric5273
Something just occured to me when I was watching those videos. There are tax differences for different amounts of dependents and whether you are single or married. A single person making $250k per year gets taxed differently than a family of 4 making the same amount.

So I played with the tax calculator at Obama's website, and here's what I found:

--Regardless of number of dependants or marriage status, if you make more than $250k, you get no tax cut -- these are the people that will get a tax increase of 3.6%, but keep in mind that the increase is only on the portion of your income that is over $250k

--If a married couple with or without kids makes between $150k and $200k, you get a tax cut

--A single person making between $150k and $200k does NOT get a tax cut

--A single person making under $150k gets a tax cut, assuming they count themselves as a dependant on their own tax return.

--A single person who does NOT count themselves as a dependant on their own tax return (i.e. a college-age kid living with their parents) making less than $100k gets a tax cut.


So that is where your $250k, $200k, $150k and $100k thresholds come from.
So are you saying that nothing has changed with Obama's tax plan and that Biden and Richardson are just quoting different types of filers? Don't you think they would have clarified that if that were the case? When something is false, the Obama campaign is usually quick to clarify the discreptancies and I haven't heard them clarify this yet. Maybe they know that it will just get blown over by the media since there is only 1 day left until the election.
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