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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (432041)	11/2/2008 1:43:42 PM
From: longnshort	Respond to of 1573092

No one knows what Obama's tax plans are, he changes them weekly

To: combjelly who wrote (432041)	11/2/2008 1:55:50 PM
From: i-node	Read Replies (1) \| Respond to of 1573092

I can't speak to the analysis of one organization or another, but I can read from Obama's own website: In addition, Senator Obama introduced an amendment in the 109th Congress that would provide immediate tax relief to low-income working families from the Gulf Coast disaster areas by enhancing the refundable portion of the child tax credit. As a change from current law, children would no longer be denied a benefit because their parents’ incomes are too low. Expanding the Earned Income Tax Credit (EITC) The EITC has raised millions of working American families out of poverty, and is considered by policymakers across the political spectrum to be one of the most effective anti-poverty measures in recent history. Senator Obama supports expanding the EITC to cover additional children and families that are struggling to make ends meet. In the 109th Congress, he cosponsored and won passage of an amendment to reduce the marriage penalty for EITC recipients and to ensure that members of our military can include their combat pay when calculating eligibility for tax credits. Now, he has backed off of the first paragraph above -- when McCain began [properly] classifying it was welfare, Obama said, "Oh, no, we'll only give them the money if they're working." The first paragraph above would, apparently, have removed the requirement of ANY earned income. Totally. But this modification doesn't change the fact that it is welfare. It just changes the extent of it. If you have some earned income under the Obama plan you'll qualify for EITC. If he has his way as in Paragraph 1 above, you would not need ANY earned income to qualify for (ironically) the Earned Income Tax Credit.