Misinformation out there about candidate tax plans
One of my favorite quotes is “You are entitled to your own opinion, but not to your own facts” (author unknown). For the presidential election, it is difficult to decipher facts from opinions, or even from falsehoods. There is so much misinformation out there it cannot be addressed in only one single letter to the editor. First, I would like to focus on taxes.
“We spoke with Len Berman, director of the nonpartisan Urban-Brookings Tax Policy Center, which has produced one of the most authoritative analyses of the two candidates’ tax plans. … Overall, the TPC found that Obama’s plan would produce a tax cut for 81.3 percent of all households, and a cut for 95.5 percent of all households with children. Under Obama’s plan, the TPC estimates that people (or couples) making between $37,595 and $66,354 a year would see an average savings of $1,118 on their taxes. Under McCain’s plan, on the other hand, those same individuals would save $325 on average ” $793 less than the average savings under Obama’s plan” (http://www.factcheck.org).
“According to the Tax Policy Center’s analysis of the candidates’ proposed tax changes, the primary difference between them would be distributional, with Senator Obama’s proposals favoring lower-income taxpayers and Senator McCain’s favoring higher-income taxpayers” (http://www.snopes.com).
I found the following from http://talkingpointsmemo.com. “The Tax Policy Center has released a report comparing the Obama and McCain tax plans. … ‘If enacted, the Obama and McCain tax plans would have radically different effects on the distribution of tax burdens in the United States. The Obama tax plan would make the tax system significantly more progressive by providing large tax breaks to those at the bottom of the income scale and raising taxes significantly on upper-income earners. The McCain tax plan would make the tax system more regressive, even compared with a system in which the 2001-06 tax cuts are made permanent. It would do so by providing relatively little tax relief to those at the bottom of the income scale while providing huge tax cuts to households at the very top of the income distribution'” (David Kurtz).
To the reader, you are entitled to your own opinion, but I hope you are an astute citizen and get the facts. I encourage you to do your homework. Watch the debates. Seek out objective, reliable, and unbiased analyses. Vote.
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