<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/cb19ca73-82a8-42b7-94da-0ee7950a30f0/B5B35BE1-AF19-4F44-97EB-6A0CE8AE8B17/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://taxprof.typepad.com/taxprof_blog/2008/10/wsj-obamas-tax.html" href="http://taxprof.typepad.com/taxprof_blog/2008/10/wsj-obamas-tax.html" style="font-size: 11px;">taxprof.typepad.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://taxprof.typepad.com/taxprof_blog/2008/10/wsj-obamas-tax.html">But how does he conjure this miracle, especially since more than a third of all Americans already pay no income taxes at all? There are several sleights of hand, but the most creative is to redefine the meaning of "tax cut." ...</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://taxprof.typepad.com/taxprof_blog/2008/10/wsj-obamas-tax.html"> <OL> <li style="margin-left:16px;padding-left: 0px;">A $500 tax credit ($1,000 a couple) to "make work pay" that phases out at income of $75,000 for individuals and $150,000 per couple. <li style="margin-left:16px;padding-left: 0px;">A $4,000 tax credit for college tuition. <li style="margin-left:16px;padding-left: 0px;">A 10% mortgage interest tax credit (on top of the existing mortgage interest deduction and other housing subsidies). <li style="margin-left:16px;padding-left: 0px;">A "savings" tax credit of 50% up to $1,000. <li style="margin-left:16px;padding-left: 0px;">An expansion of the earned-income tax credit that would allow single workers to receive as much as $555 a year, up from $175 now, and give these workers up to $1,110 if they are paying child support. <li style="margin-left:16px;padding-left: 0px;">A child care credit of 50% up to $6,000 of expenses a year. <li style="margin-left:16px;padding-left: 0px;">A "clean car" tax credit of up to $7,000 on the purchase of certain vehicles.</LI></OL></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/B5B35BE1-AF19-4F44-97EB-6A0CE8AE8B17/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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