Tax Cuts

Some critics are saying that Barack Obama wants to tax the poor. Let me throw a few facts out there about both candidates that I found in The Tennessean on June 12(Tax plans offer middle-income families a $1,000 break)

- Both candidates want to reduce taxes for the middle class by $1,000
- Families in the lowest 20 percent of income ($19,000) would have a $567 tax cut under Obama’s plan but only a $19 cut from McCain’s plan

- Families in the top 1 percent of income ($ 603,000) would have to pay over $100,000 under Obama’s plan but would get a $45,000 dollar tax cut from McCain’s plan.
- Both plans would add to the national debt, but McCain’s plan would cost 1.3 trillion dollars more than Obama’s plan.

Obama is not going to tax the poor like some critics are saying. These statistics come from The Tax Policy Center.

"Low- and middle-income taxpayers would undoubtedly be paying lower taxes under the Obama plan," said Len Burman, director of the Tax Policy Center.