That ain't nothin' baby. Just wait until Obama keeps his promise to allow the Bush tax cuts to expire, the only promise he will keep, which is an automatic tax increase on every bracket. Wow, Obama lied? Go figure.
What is Obama's plan on the Bush Tax Cuts (Really the House of Representatives Tax Cuts but I will humor the Democrats)? To let them expire in 2010, one year after the next President takes office and go back to the Bill Clinton Tax Rates. Let's look at the tax tables and see what we are talking about, ok?
2008 Taxes (Current Bush Tax Cuts)Married Filing JointlyMarginal Tax Rate 10% on earnings over $0 up to $16,050
Marginal Tax Rate 15% on earnings over $16,050 up to $65,100
Marginal Tax Rate 25% on earnings over $65,100 up to $131,450
Marginal Tax Rate 28% on earnings over $131,450 up to $200,300
Marginal Tax Rate 33% on earnings over $200,300 up to $357,300
Marginal Tax Rate 35% on earnings over $357,300 and over
SingleMarginal Tax Rate 10% on earnings over $0 up to $8,025
Marginal Tax Rate 15% on earnings over $8,025 up to $32,550
Marginal Tax Rate 25% on earnings over $32,550 up to $78,850
Marginal Tax Rate 28% on earnings over $78,850 up to $164,550
Marginal Tax Rate 33% on earnings over $164,550 up to $357,700
Marginal Tax Rate 35% on earnings over $357,700 and over
2000 Taxes (The Clinton Promised Tax Cuts which turned out to be a lie. Now it is Obama's stated tax plan since he will allow the Bush tax cuts to expire in 2010.)Married Filing JointlyMarginal Tax Rate 15% on earnings over $0 up to $43,850
Marginal Tax Rate 28% on earnings over $43,850 up to $105,950
Marginal Tax Rate 31% on earnings over $105,950 up to $161,450
Marginal Tax Rate 36% on earnings over $161,450 up to $288,350
Marginal Tax Rate 39.6% on earnings over $288,350 and over
SingleMarginal Tax Rate 15% on earnings over $0 up to $35,150
Marginal Tax Rate 28% on earnings over $43,850 up to $63,550
Marginal Tax Rate 31% on earnings over $63,550 up to $132,600
Marginal Tax Rate 36% on earnings over $132,600 up to $288,350
Marginal Tax Rate 39.6% on earnings over $288,350 and over
Dang, if you are on the bottom, you get an automatic 50% tax increase from 10% to 15%. And Obama calls this a tax cut. If you are married filing jointly under the Clinton plan you get a penalty for being married, notice a family earning $288,350 gets taxed at the same rate as a single person, it should be double the earnings. But Obama wishes to continue the financial assault on the family. Allowing the Bush tax cuts to expire is a virtual tax increase in every bracket, across the board, a bigger lie then when Clinton said he was going to give a middle class tax cut and then raised taxes on just about his first week in office. Only under Obama's lie he promised a tax cut to 95% of Americans and only tax increases on people making over $250,000, $200,000 or $142,000, depending on who you believe. It is called slight of hand.
Got anything to say? Why not pull out some Obama talking points and see what you can come up with. Me, I will stick with a proven method of determining the truth. It is called mathematics. Allowing the Bush tax cuts to expire is a tax increase on everyone, period, including the waiter. And we will see alot more people in the same food line as the homeless guy you hope will be fed also.