Really? If I didn't know you to be fair and honest, I would have
mistakenly thought you a shadowy smear monger deliberately pushing a
misleading rumor about Barack's tax policies with the intention of
manipulating voters. LOL
#--------------------------------
Obama and Biden will cut income taxes by $1,000 for working families to
offset the payroll tax they pay.
* *Provide a Tax Cut for Working Families:* Obama and Biden will
restore fairness to the tax code and provide 150 million workers
the tax relief they need. Obama and Biden will create a new
"Making Work Pay" tax credit of up to $500 per person, or $1,000
per working family. The "Making Work Pay" tax credit will
completely eliminate income taxes for 10 million Americans.
* *Eliminate Income Taxes for Seniors Making Less than $50,000:*
Barack Obama will eliminate all income taxation of seniors making
less than $50,000 per year. This proposal will eliminate income
taxes for 7 million seniors and provide these seniors with an
average savings of $1,400 each year. Under the Obama-Biden plan,
27 million American seniors will also not need to file an income
tax return.
* *Simplify Tax Filings for Middle Class Americans:* Obama and Biden
will dramatically simplify tax filings so that millions of
Americans will be able to do their taxes in less than five
minutes. Obama and Biden will ensure that the IRS uses the
information it already gets from banks and employers to give
taxpayers the option of pre-filled tax forms to verify, sign and
return. Experts estimate that the Obama-Biden proposal will save
Americans up to 200 million total hours of work and aggravation
and up to $2 billion in tax preparer fees.
* Obama will cut income taxes on 95% of taxpayers, (eg those with
incomes below $250,000.00. His take policies are geared towards
helping the working middle class, as management, CEO, wealthy
individuals, and big corporations can pretty well take care of
themselves.
#----------------------------------
Regards,
LelandJ
Michael Madigan wrote:
> Pay attention.
>
> The Obama plan is to raise the rates on the upper middle-class and then send
> a check to someone who doesn't pay any federal taxes.
>
> That's not a prgressive tax, that's a redistribution of income.
>
> *************************************************
> Barack Obama Antichrist gear
>
> http://www.cafepress.com/rightwingmike
>
>
> --- On Sun, 11/2/08, Leland F. Jackson, CPA <[EMAIL PROTECTED]> wrote:
>
>
>> From: Leland F. Jackson, CPA <[EMAIL PROTECTED]>
>> Subject: Re: [OT] Obama's redistribution plan at work
>> To: "ProFox Email List" <profox@leafe.com>
>> Date: Sunday, November 2, 2008, 2:08 PM
>> A progressive income tax is not really giving my money away
>> to someone
>> else. Its about how much each person pays in income tax
>> for government
>> services received. Under a progressive income tax, the
>> greater my
>> income, the greater my contribution to the government, but
>> then the
>> greater my income, the greater the value of the government
>> services I
>> receive. This is only fair; since, the wealthiest
>> individual receive
>> more benefits from the government, than say someone working
>> for a
>> minimum wage that really doesn't have that much to
>> lose.
>>
>> I've heard a lot of bitching and complaining about how
>> complex and
>> taxing the current system is with many calling for a flat
>> tax where
>> everybody pay a flat percentage of their income to Uncle
>> Sam. The
>> amount of tax paid under a flat tax increases as the income
>> level of the
>> individual increases, but the rate of tax remain the same
>> based on the
>> tax as a percentage of income. Well, let's really make
>> thing simple and
>> have everyone pay a flat $1,000 tax; period. Now
>> wouldn't that be
>> simple. There wouldn't even be a need to file an
>> income tax return;
>> since, the amount of income a person earned would not be
>> relevant to the
>> tax calculation. Under such a tax, the homeless guy who
>> has zero income
>> and Bill Gates who earns billions would both be required to
>> pay $1,000
>> in taxes. With something over 300 million people in the
>> USA, this
>> would theoretically bring in about 3 trillion in tax
>> revenue each year.
>> See how simple it gets. However, is a flat amount tax
>> fair? I'll
>> answer my own question. It's not only unfair, it not a
>> viable system
>> and would quickly wreck our economy.
>>
>> Although a flat rate tax as a percentage of income is not
>> as extreme as
>> a flat amount tax, they are both unfair and difficult to
>> administer;
>> because, people in different income level have very
>> different needs. I
>> suppose an entire book could be written on this subject,
>> including the
>> concept of diminishing return as it applies to income
>> level, but I don't
>> have time to get into that today, but saying Senator
>> Obama's tax plan is
>> a tax give of anyones income by government distribution is
>> not true.
>>
>> The progressive tax system in the USA has served Americans
>> well over
>> many, many, year, so why change a good thing. The Bush
>> Administration
>> change in tax policy adversely affected the USA economy to
>> the point
>> that America is now in a recession, and the Bush tax
>> changes resulted in
>> a economic stimulus package to returned millions of income
>> tax dollars
>> back to the American people, so they had enough reward in
>> the GDP to
>> participate by consuming some of the products they labored
>> so hard to
>> produce. Remember, the American consumer helps drive the
>> economy, and
>> helps to create the wealth held in the hand of big
>> Corporations,
>> management, and super wealthy individuals, and the bulk of
>> consumption
>> of good is service takes place by middle income folks. LOL
>> Senator
>> Obama's suggested tax policy is just to return the tax
>> system back to a
>> point where it is balanced and functioning again.
>>
>> Regards,
>>
>> LelandJ
>>
>>
>>
>> John wrote:
>>
>>> No kidding today on my way to lunch I passed a
>>>
>> homeless guy with a sign that
>>
>>> read 'Vote Obama, I need the money.' I
>>>
>> laughed.
>>
>>> I got into the restaurant and again no kidding my
>>>
>> server had on a 'Obama 08'
>>
>>> tie, again I laughed as he had given away his
>>>
>> political preference--just
>>
>>> imagine the coincidence.
>>> When the bill came I decided not to tip the server and
>>>
>> explained to him that
>>
>>> I was exploring the Obama redistribution of wealth
>>>
>> concept. He stood there
>>
>>> in
>>> disbelief while I told him that I was going to
>>>
>> redistribute his tip to
>>
>>> someone who I deemed more in need--the homeless guy
>>>
>> outside. The server
>>
>>> angrily stormed from my sight.
>>> I went outside, gave the homeless guy $10 and told him
>>>
>> to thank the server
>>
>>> inside as I 've decided he could use the money
>>>
>> more. The homeless guy was
>>
>>> grateful.
>>> At the end of my rather unscientific redistribution
>>>
>> experiment I realized
>>
>>> the homeless guy was grateful for the money he did not
>>>
>> earn, but the waiter
>>
>>> was pretty angry that I gave away the money he did
>>>
>> earn even though the
>>
>>> actual recipient needed money more.
>>> I guess redistribution of wealth is an easier thing to
>>>
>> swallow in concept
>>
>>> than in practical application.
>>>
>>> You might try this experiment yourself
>>>
>>>
>>>
>>>
>>>
[excessive quoting removed by server]
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