From the mouth of Biden on patriotism and taxes (http://news.yahoo.com/s/ap/20080918/ap_on_el_pr/biden_taxes_3).
And it's reducing taxes only if you discount the effect on businesses. Obama/Biden have proposed raising taxes on businesses, who will then pass the cost down to people who buy from businesses. Like, say, everybody with any money in their pockets at all.
Um, yeah. That article echoes what I said. But I hadn't heard about the increase in business taxes. Is that proposed for corporations, or all businesses?
Alright, I had to search to find recent looks at things.
Pointing out downsides to Obama's plan (http://www.politico.com/news/stories/0708/11670.html).
Not much new here. (http://www.unionleader.com/article.aspx?headline=Obama%27s+tax+pledge%3A+Can+he+really+keep+it%3F&articleId=980e13b1-33f9-4adf-a766-ca2559596e6a)
What it boils down to, is not only will people who earn $250,000 or more in a year get tax increases, but businesses that do so will, as well. What's a lot for one person isn't that much to a business of thirty or even a hundred people.
I hadn't seen the 50 percent tax rate mentioned before. That's an eye-opener.
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timeasmymeasure
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Date: 2008-09-22 03:20 pm (UTC)And it's reducing taxes only if you discount the effect on businesses. Obama/Biden have proposed raising taxes on businesses, who will then pass the cost down to people who buy from businesses. Like, say, everybody with any money in their pockets at all.
no subject
Date: 2008-09-22 04:46 pm (UTC)no subject
Date: 2008-09-22 06:44 pm (UTC)Pointing out downsides to Obama's plan (http://www.politico.com/news/stories/0708/11670.html).
Not much new here. (http://www.unionleader.com/article.aspx?headline=Obama%27s+tax+pledge%3A+Can+he+really+keep+it%3F&articleId=980e13b1-33f9-4adf-a766-ca2559596e6a)
What it boils down to, is not only will people who earn $250,000 or more in a year get tax increases, but businesses that do so will, as well. What's a lot for one person isn't that much to a business of thirty or even a hundred people.
I hadn't seen the 50 percent tax rate mentioned before. That's an eye-opener.