The American people voted for change. While Obama is talking about a huge public works project, conservatives are still stuck in the same old place. They cannot seem to stop talking about tax cuts, as if that will solve every problem more »
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When talking about taxes, conservatives continue to characterize opponents of their tax policies as “socialists” who want to take money from the middle-class and give it away to the poor. Here are some facts you should know about the impact of tax policies enacted by the Bush administration and the realities behind conservative arguments about taxation. more »
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nytimes.com — Perhaps the greatest public relations coup of this decade was the successful persuasion of millions of Americans that repealing the estate tax was a populist cause, which led to the relaxation of a tax that applied to a tiny handful of estates of wealthy people and its planned one-year repeal in 2010. That PR rechristening of the levy as the "death tax" has even affected presidential candidate Barack Obama's tax proposals. Next year Congress will have to decide the future shape of that tax and its ability to raise significant sums from the very wealthy.
Over the last 40 decades, conservatives have launched a concerted attack on taxes with such success that now candidates of both parties reliably compete with each other to prove who is more anti-tax. When John McCain and Sarah Palin attack taxes, that’s one thing. But when Barack Obama starts doing it, we have a big problem. more »
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Today, the top federal income-tax rate for ordinary income is 35 percent, meaning that earned income is taxed at a rate 2 1/3 higher than income from capital gains
Households earning over $200,000 a year would receive 93 percent of the benefits from the McCain capital gains tax cut. In fact, two-thirds of the tax cut would go to individuals earning over $1 million a year.
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Making Sense 2008!
