1. Small main street businesses would be forced to pay tax rates as high as 62.3% under Senator Obama’s tax proposals.1

2. Senator Obama’s tax plan would tax small businesses at a higher rate than large corporations!2

3. Taxes on retirement income and savings could increase by at least 33%, hitting millions of seniors when they need these resources the most.3

4. 4 million workers over the age of 50 – those eagerly looking forward to retirement – would be hit with increased tax bills. 4

5. Millions of Americans would only keep 38 cents of every dollar that they earn.5

6. Senator Obama’s tax plan would reduce the after tax wages of millions of workers by 17.7%.6

7. It will take 227 days per year, nearly 8 months, just to pay your tax bill!7

8. 97,065 carpenters, 110,908 police officers, 254,992 nurses, 208,562 postsecondary teachers and 237,000 dentists would see tax increases, if the earnings cap was successfully eliminated.8

9. 10.3 million workers would see an average of $5,650 taken from their paycheck and given to government programs.9

10. Even YOU might be considered “Rich.”

Citations:

1 Michael Boskin, “A Closer Look at Obamanomics”
2 “Obama Plans Spending Boost, Possible Cut in Business Tax”, Wall Street Journal, June 17, 2008
3“Obama's War on Women”, The New York Sun, August 14, 2008
4 “Caps Off for Obama,” Investors Business Daily, 5/20/2008
5 Michael Boskin, “A Closer Look at Obamanomics”
6 Calcuation by RightChange.com based on figures detailed in Michael Boskin’s, “A Closer Look at Obamanomics”
7 RightChange.com calculation
8 “Obama's Social Insecurity Plan,” Investor’s Business Daily, 5/20/2008
9"Caps Off For Obama," Investor's Business Daily, 9/25/07
10National Federation of Independent Business, Small Business Facts
11National Federation of Independent Business, Small Business Economic Trends, August 2008

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Government does not solve problems; it subsidizes them.

---- Ronald Reagan

Did you check this one out before posting?

Hint: When your "facts" rely heavily on claims by Investor's Business Daily and places like "RightChange.com", you might want to look at the results rather skeptically.

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Man up.

I won't read any farther than here until you post a non-partisan link giving this any credibility. I think even you know this is an abject load.

The 62% taxes include the hike he is proposing to social security, the hike on income taxes and state taxes and other personal income taxes.

Right now they keep about 55% of income at the highest Brackets. Removing the cap on social security is a 12.4% increase on income over $97,000 or so alone.

70% of small businesses report profits as personal income to avoid double taxation.

We have some of the highest business taxes in the world because we are too stupid to see how it is crippling the creation of jobs.

Actually, because the politics of envy wins votes.

It's not a load, it's the absolute truth. They are talking about businesses that report profit as personal income. The businesses that are the engine of economic growth.

Where's the link? Did you write it yourself? Without a link, it's plagiarism.

Equals doom for America.

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"The only title superior to President of the United States of America is Citizen."

Did you know the word "gullible" isn't in the dictionary?

Here's the tax plans, compared.



And here's Obama's actual tax plan.

http://www.barackobama.com/issues/economy/#tax-relief

It's such a shame that the Republican partisans have to lie so much. But I guess they have no choice, they'd be mauled in the election if they didn't.

About half of those sources are horribly bias.

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The basic question that made me a Social Democrat is: "How high of taxes would Jesus be willing to pay so that every person, regardless of their sins, could have food, shelter, and health care?"

So in other words, all they're saying is "small business owners who happen to make more than $250,000 a year will pay higher taxes, just like everyone else who makes more than $250,000 a year." And other than the uncapping of Social Security, all that's happening is a return to the tax rates in effect in 2001 and 2002.

Never mind that the tax rate, as stated, ignores deductions, credits, etc.;

That it's a marginal rate, not an overall rate;

That it lumps in taxes over which Obama has no control, like state taxes;

That it ignores other elements of his policies that benefit small businesses;

Shall I go on?

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Man up.