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Politics : President Barack Obama
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To: michael97123 who wrote (16772)4/8/2008 10:01:23 PM
From: RetiredNow  Read Replies (2) of 149317
 
Michael, where do you get this 64% tax rate figure? Just curious, because I've never heard Obama talk about raising taxes that high. What I've heard him say is that he'd roll back taxes for the rich to pre-Bush levels and he'd increase the ceiling on social security taxes in order to solve the SS Trust Fund issues. Then he'd actually lower taxes for the middle class and poor by eliminating the AMT and taxes for seniors earning less than $50K.

BTW, the highest marginal tax rate in 1999 before Bush took office was 39.6%. So increasing taxes to that rate for the rich doesn't seem to onerous to me and it's a lot lower than the 64% you are touting as a way to scare people.
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