Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (2881)	10/26/2008 8:29:26 PM
From: Brumar89	2 Recommendations Read Replies (1) \| Respond to of 86355

Doesn't he advocate raising 1) income taxes on people above 250K income, 2) capital gains and dividend taxes on everyone, 3) raising the social security tax cap, and 4) imposing new health care mandates on small business (essentially a tax increase)? Sounds like a lot of folks are gonna be paying higher taxes - especially small business people.

To: RetiredNow who wrote (2881)	10/31/2008 6:45:57 PM
From: TimF	2 Recommendations Read Replies (1) \| Respond to of 86355

You can talk all you want about your belief that Obama will raise taxes, but you'd be wrong. He plans to cut taxes. No he plans to increase taxes and call it a tax cut. 1- His baseline isn't current tax rates but an increase. He starts from having the rates revert to the pre-Bush rates and counts from there. 2 - Refundable tax credits that to people who pay no taxes aren't a tax cut their a handout. 3 - Refundable income tax credits to people who currently pay taxes that take them to negative income tax liabilities are only a tax cut to the point when the income tax bill is zero, beyond that they are a handout. 4 - He plans extra spending and reducing the deficit at the same time, that implies extra revenue, so either he is lying about his plans or he plans a tax increase. 5 - Apparently he doesn't count increasing payroll taxes on high earners or imposing corporate tax increases for corporations with overseas income in his calculations.