Senator Obama, Why did the Income Tax Threshold change last night to $200,000?
Posted in the Cusseta Forum
“T&C Services ”
Since: Mar 07
#2 Oct 31, 2008
Update Please read the email I received today.
Dear Friend, Thank you for contacting me about reforming our nation's tax policies and restoring fiscal responsibility. I agree strongly that we need to reduce the tax burden on middle class families while taking the tough steps needed to make sure that the federal government lives within its means. Let me be clear: my plan provides generous tax cuts for almost all American families – and will not raise any tax rate on families making less than $250,000 per year. I believe that the advancement of individual opportunity – the chance for everyone to join the middle class, regardless of birth – is basic to both the history of our country, and to our economy. I believe that there’s a place for every American's dream, and our tax structure must help people reach their goals by rewarding work, rewarding companies that play by the rules and keep jobs here in America, and supporting economic growth. I’ve introduced detailed proposals to make our tax code favor work instead of just wealth, to help homeowners and seniors, and to simplify tax filings so that millions of Americans can do their taxes in less than five minutes. Under my plans, working families will get a tax credit of up to $1,000; low- and middle-income homeowners will get tax relief, and seniors who make less than $50,000 per year will pay no income tax at all. Families making over $250,000 would pay the 1990s marginal income tax rates – of 39.6 and 36 percent – and capital gains and dividend tax rates of 20%. My 20% capital gains rate is the lowest rate from the 1990s, and my 20% dividends rate is 39 percent lower than the rate President Bush proposed in 2001, and lower than all but 5 of the last 92 yearswe have been taxing dividends. To see how my tax cut plan will help you specifically, please click here to use my tax cut calculator: http://taxcut.barackobama.com/ To learn about how my proposals compare to Senator McCain's, please click here: http://www.barackobama.com/pdf/taxes/Tax_Plan... I’ll pay for these proposals by eliminating special interest loopholes, corporate tax breaks that serve no national interest, and tax havens, because we can’t leave a legacy of debt to our children and grandchildren. To learn more about my plans and read my tax fairness speech, please click here: http://www.barackobama.com/2007/09/18/remarks... Instead of honoring that core American value – opportunity for all – we've had a system in Washington where our laws and regulations have carved out opportunities for the few. I will restore fairness to this system so that the government collects the revenue it needs to operate without penalizing people who are working hard to realize their own American dream. You may have also heard false rumors about my tax plans. To read and help spread the truth, please click here: http://my.barackobama.com/page/invite/obamaan... Thank you again for contacting me. Sincerely, Barack Obama ----------Paid for by Obama for America
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