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Presidential Candidates and Your Taxes

Well, we are a few short weeks away from electing a new President of the United States. This is an exciting time, but it is also a time where we need to pay attention. One of the major issues that we are facing relates to taxes. Republicans always say the Democrats are going to tax you to no end. Democrats say the Republicans will take it easy on you…if you make a lot of money. Well then, who is right? Who is wrong? This is a decision that you have to make on your own. The following is some information about each candidate’s views on this subject. Make sure that you decide for yourself. It is important that you go out into the world and do as much research as you can for this election.

Barack Obama on Taxes

Senator Obama wants to repeal the tax cuts that President Bush lined out. Obama believes that these tax cuts are not fair because they only benefit the wealthy. He also supports a specific relief for families who are making less than $75,000. This would be $1,000 worth of relief that they could use. He says that overall the wealthy will pay more taxes and that he is “not bashful about it.” Senator Obama has voted “NO” on repealing taxes such as the alternative minimum tax, and the death tax, and has also voted “NO” on reducing taxes on capital gains. He has also taken a strict position on the estate tax, saying that it only affects ½ of the top 1% in America. Overall, Senator Obama is running on a campaign that will lower taxes for lower incomes, while raise taxes on those who make higher incomes of $250,000 and above. This is in order to “balance things out.” For more on Senator Obama’s Tax Record please visit On the Issues: Barack Obama Tax Reform.

John McCain on Taxes

Senator McCain is in favor of maintaining the tax cuts imposed by President Bush because his campaign believes that these cuts allow for growth. Tax cuts for business allow them to create new job, while raising their taxes might cause them to cut out lower level positions. He, like Senator Obama, wants to repeal the alternative minimum tax, because he believes it will help middle class families. Senator McCain also believes that 3/5 of Congress must agree in order to raise any taxes in the future. McCain also believes that there should be bans on new technology taxes such as internet taxes and new cell phone taxes. His campaign believes that this will help American remain competitive in the global economy. He previously has voted “YES” on phasing out the estate taxes. For more information on Senator McCain’s Tax Record please visit On the Issues: John McCain Tax Reform.

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