But B-HO fails to mention that he will let the bush tax cuts expire which
will give 100% of taxpayers a tax increase.
On Mon, Oct 13, 2008 at 5:27 AM, mark <[EMAIL PROTECTED]> wrote:
>
> Barack Obama says he will give 95 percent of all American workers a
> tax cut but does not mention that his plan would send checks to tens
> of millions of tax filers who pay no personal income taxes - payments
> that critics say look "suspiciously like welfare."
>
> Mr. Obama's campaign promise, which he has repeated in his speeches
> and in the presidential debates, stems from his "Making Work Pay" tax
> cut that will give a $500 refundable tax credit to every worker or
> $1,000 to each working couple. But because this provision in his
> economic-recovery plan is "refundable," a large number of middle- to
> lower-income workers who have no income-tax liability after taking tax
> credits and deductions the that Internal Revenue Service allows, will
> be given the equivalent of the tax cut in the form of direct payments
> from the U.S. Treasury - funded by higher-income taxpayers.
>
> Because the IRS says that nearly 46 million tax filers - one-third of
> all filers - had no tax liability in 2006, there is the question of
> how millions of Americans can receive an income "tax cut" when they
> pay no taxes.
> >
>
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