30 October 2008

More of the same

Did you hear Obama’s a socialist? The McCain campaign has gone back to the old “tax and spend liberal” attack. In the past this strategy has convinced Americans to vote against their own economic interest.

The Obama tax plan is and has always been extremely clear and unambiguous. It will only roll back the Bush tax cuts on those earning over $250,000 a year. The fact is that this will affect less then 2% of households.

McCain’s claim that Obama wants “to spread the wealth around,” something he himself once agreed with, is intended to instill fear among voters.

However, the reality of the situation is that the Democrats’ tax plans would not only help the 98% of households earning less then $250,000 dollars through improving schools, universities, transportation, and raising wages for public sector workers including teachers, police officers, and firefighters. These tax increases will also benefit those earning more than a quarter of a million dollars through improving infrastructure, airports, and other facilities necessary to grow a business.

The progressive tax structure which charges a higher rate on income above a certain level is intended to charge more to those who can afford it. John McCain has never argued for the abolition of progressive income tax, which apparently he now believes is socialism, and therefore his attacks on Obama’s plans are empty words. Tax policies which invest in their citizens to grow and maintain a strong workforce will in the end benefit the entire country.

By Michael Goldberg

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