Comparing Tax Policies

Right here, right now I am going to attempt to explain the differences in the two presidential candidates tax policies. I feel it is important for people to understand the basic philosophy behind both. I will not make an attempt to advocate for either one. I will just explain them in the simplest terms possible. I do have a question for people to think about at the end and a weblink to a video.

McCain:

• Don't raise taxes on anyone.
• Underperforming economies are the worst time to raise taxes.
• Bush Tax Cuts? Yes, Senator John McCain supports making the Bush Tax cuts for anyone making over $250,000 permanent. Yet, what it is crucial to understand is that over 50% of America's small businesses are sole proprietorships with gross receipts of over $250,000 and that those businesses supply and create jobs.
• Letting the Bush Tax cuts expire is essentially raising taxes.
• Why should the rich get richer? Because a free market does reward those in business who take risks and succeed. There is nothing wrong with that.
  

Obama:

• Cut taxes for everyone making less than $250,000 per year.
• Cut taxes for 95% of Americans
• Raise taxes on the top 5%
• Let the Bush tax cut expire
• Raise taxes on small businesses earning over $250,000
• Nevermind that raising taxes on the wealthy will probably reduce jobs.

Biased section:

So I ask you, if Obama lowers your individual income tax and you get a couple thousand bucks back at the end of the tax year but you don't have a job because your small business had to cut positions due to increased taxes...How are you any better off?

View the following video no matter what type of partisan you are. All I ask is that you acknowledge that their are (2) viewpoints here and both have their merits!

http://www.nypost.com/seven/10152008/news/politics/obama_fires_a_robin_hood_warning_shot_133685.htm