Ok, not everyone's, but probably the taxes of every American who regularly reads this.
John McCain... not so much.
The simple fact Obama's tax plan takes simple economics into account. If I am running a business, or a home, I have to have income to keep spending. It's not a new concept, Dickens, in David Copperfield summed it up, Annual income twenty pounds, annual expenditure nineteen nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
Which is what the Republicans have never seemed, in my lifetime; at least, to grasp. Grover Norquist has said fiscal irresponsibility is the goal, the famous, "Starve the gov't until it's small enough to drown in a bathtub," comment.
Spend and borrow is stupid. It's, at best, a short term solution to a short term problem. Reagaan shifted the tax burden around, and had a net-loss for gov't income (with what George Herbert Walker Bush termed, and rightly, "Voodoo Economics"). He then went on a massive spending spree, which Bush (pere) had to live with the results of (which included a tax increase; and a quick exit, stage left).
Tax and spend is a better way to go, but the present occupant of the White House thinks that's bad. Better to borrow from China to cover the bills. Want to buy a huge car (have a needless war), whip out the plastic. Don't worry, Capital One (China) will cover it, and the interest won't be too bad
because you can pay it over over decades.
Obama seems to realise that a healthy nation needs (like a healthy family) to be self-sufficient. McCain, again, not so much. We, as a nation, pay the smallest taxes in the First World. We are getting what we pay for.
Bridges are collapsing, roads are decaying, New Orleans was damn near destroyed (and what, three years later we still have internal refugees? WTF?). Our healthcare system is a joke.
For what? So the truly rich can flaunt it, and the poor can be asked to bear a greater share of the burden. That's bullshit. To make another family analogy (and one with flaws), Dad doesn't ask the toddler to pay a fair share of the groceries, he doesn't even ask the teenager to.
Hell, in a well off family the kids get a new car, and the insurance is paid for.
The less well to do scrape the money for a decent used car, and the kid gets a job to cover the insurance.
After that, well cars are luxuries, and they borrow dads, or have to pay for it all themselves.
America is rich. We shouldn't be telling people we aren't. We can
pay for all of the things we need to do (and most of the things we want to). We can do it with a fair
We used to have one. Back in the '50s, under Eisenhower we had marginal rates in the 50-70 percent range. What people today would see as confiscatory. When LBJ cut taxes, Ike came out of retirement to lambaste the plan.
McCain, he want's to cut taxes across the board. The poorest, who most need the help, will see reductions in their taxes by as much as $20.00 a year.
His wife, on the other hand, will see savings estimated to be about $375,000. Maybe she can buy him a house he can remember
(in case these aren't enough
Obama, yes, he is talking about letting the Bush Tax Cuts lapse, and changing the tax structure to help the average guy (you know, the one who doesn't have so many houses it costs 270,000 a year to maintain them
Yes, I am beating on this, because Obama isn't that rich, and I don't see anyone beating McCain up for his Sugar Mommy Wife, the way they whomped on Kerry, who wasn't cheating on his first wife when he married his second).
Ok, digression over, back to the Obama tax plan. That little guy (the one McCain is going to toss $20 to) gets about $550 from the Obama plan. That's groceries for a month. It's real money.
In fact, it's not until someones income gets above $220,000 that someone doesn't get a tax cut from Obama. It's not until someone is making more than $600,000 a year that they see an increase in their taxes.
I don't know about you, but if I were making almost 3 times what the average american home is worth.pdf
(recall too, McCain and his wife own ten homes, which add up to about 13 million dollars, so that average isn't the median, not by a long shot), I think I can afford to budget an eight percent change in my taxes.
For a graphic display of the differences Washington Post