sahara says: More economic proposals to come: Obama in his speech criticized his Republican rival, John McCain, for proposing to extend all of President Bush's 2001 and 2003 tax cuts. But Obama himself has taken a page from Bush's playbook on taxes. Obama has pledged to keep the tax cuts in place for everyone except those making roughly $250,000 and up. He has also made proposals to cut taxes further for the middle class, some of which he reiterated in his speech: exempt seniors making less than $50,000 from having to pay income tax; give a tax credit worth up to $500 per working person ($1,000 per family) to offset the Social Security tax on the first $8,100 of earnings; and expand the earned income tax credit. To boost retirement savings, he has also proposed a 50% federal match on the first $1,000 of savings for families that earn under $75,000. ****Vote 4 Me, I'll give you more free money! Just what we all need. |
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