And thus can not get a tax break under Obamas plan. In fact, his plan would lower taxes on 99.5% of wage earners, about 35% of Americans, who pay 65% of the income tax. Only a third of those even owe any taxes. The top .5% of wage earners would get an increase in tax, and they already pay 35% of all income tax.

The bottom income of those in the top richest 1% of wage earner, in constant dollars, is $186,716. That is 1.3 million people. Peopel who make over $250,000 account for less than a million people and 35% of income tax, and these people will pay more taxes, under Obamas plan, so that everyone else can pay less. Joe Biden does not think this is wealth redistribution, but is actually "fairness".

Do not vote for these these people who support legal theft.

Source - http://www.irs.gov/pub/irs-soi/05in05tr.xls

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http://www.fairtax.org

Elminate all taxes on income and replace with a national sales tax.

Biden " Boy its your patriotic duty to pay these taxes so I can give the lazy fatasses a big fat check so they will vote for Obama Bin Biden"!!!

Don't fret !

All those people who don't pay any tax now will either get their earned income tax credit increased or qualify to start getting it ! Meanwhile all those small businesses and family farms will see their taxes get bumped way up and have to start laying off "working family" folks.

Isn't that great ?

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Hope is the opposite of audacity. It's passive, an excuse for inaction.

Socialism doesn't create a rising tide that lifts all boats. It drains the lake and teaches the boat riders not to help themselves by rowing.

“What's the difference between Sarah Palin and Barack Obama?”

“One is a well turned-out, good-looking, and let's be honest, pretty sexy piece of eye-candy.

“The other kills her own food.”

I guess it really pisses off 1% of the country to return to Clinton-Era tax rates.

Why should 99% of the country give a damn?


(oh, that's right... our jobs are all going to get shipped over seas!...Well, that's already happening... and it's not because of taxation. We just can't compete with billions of foreign workers willing to work for pennies on the dollar.)

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Congratulations President-Elect Obama

It's projected that the sum of the personal exemption and standard deduction in 2009 will be $8,950 for a single person. Any income over this amount (at minimum) will be taxed at least 10%. Thus, what the thread title is claiming is that 95% of Americans make less than $8,950 a year.

Which is, quite honestly, ridiculous.

Well, he's being misleading in that he's including all Americans... (children, stay-at-home moms, retirees...etc.) to dilute the percentage as a means to makes his case.

But hey.. the thread title got your attention, didn't it? I'm pretty sure that was the motive.

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Congratulations President-Elect Obama

Oh, I see. But even if that total comes to 95% of Americans, which I would seriously doubt, many of those people WILL receive benefit from the tax breaks, in that their families will.

No, it still doesn't come out to 95%...

But that's the direction in which he's twisting it. Starting off with an inaccurate and deceptive figure kind of diminishes the whole argument.

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Congratulations President-Elect Obama

We cant compete with countries that have low corp tax rates and no unions, and no free trade.

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http://www.fairtax.org

Elminate all taxes on income and replace with a national sales tax.

That was Obamas claim, that 95% of americans would get a tax cut. The facts are the facts. Only 15% of american even pays taxes.

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http://www.fairtax.org

Elminate all taxes on income and replace with a national sales tax.

I think Obama says "working" Americans when he throws that out. You could argue that if he forgets to qualify it with "working" that he's being intentionally misleading... but his tax plan is, in fact, based on 95% of wage earners.

If your 15% figure is correct, then shouldn't your misleading title read "85% of Americans don't pay Taxes"..... which is weird because it almost seems to imply that children, stay-at-home moms, retirees, etc. are deadbeats.

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Congratulations President-Elect Obama

You may get the chance to see why. Obama's plan will hurt small businesses which in turn will lead to increased unemployment,lower wages, and further outsourcing.
Oh , I forgot, Obama said his plan will "punish" outsourcers, so when they can't do that to remain competitive, they will have to shut the doors of their US operations. I suppose he'll feel he's relieving the wheat of it's chaff.

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Only 60% of the American population pay federal income tax. That means that 40% fall under the bar. So how do we get to Obama's statement: "95% of ALL Americans will get a federal income tax reduction."

After what we have seen already--which is wealth distribution--paying for someone else who bought a home that they could not afford. It wouldn't surprise me in the least that he along with a loaded democrat congress would give an income tax break to people who do not pay taxes in the first place.

This is the democrat goal. It's been their goal for decades.

Take Obama for his stated words: We will work from the bottom UP.

Meaning not only paying for their homes--but give them taxpayers dollars, that they did not earn, & see if they can stimulate the economy.

Yeah-Business in this country is already taxed the 2nd highest in the ENTIRE world. Tax them more--we'll see them run in hoards to foreign countries.

Obama's tax plan on business can be easily referred to as: TRICKLE DOWN PAIN!

Did anyone really listen to Biden during the debate? Biden stated they not only wanted to reduce interest rates to these loosers that bought homes they could not afford, they also wanted to reduce the amount of principle they owed!!!!

That means the loosers get instant EQUITY in their homes, while their neighbors, (whom have made their monthly payments on time for years) are paying for the loosers mortgage.

With Obama/Biden in office--it's a WIN-WIN situation for the loosers & parasites in this country.