Tuesday, September 18, 2007

Obama Releases His Tax Plan

Thru CNN, here it is. Highlights:

-Establish "five minute filings" for easy tax returns

-Nixing income taxes for the 7 million senior citizens making less than $50,000 a year

-Establishing a universal credit for homeowners who do not itemize their deductions

-Providing 150 million Americans with tax cuts of up to $1,000 to offset payroll taxes

-Repealing Bush's tax cuts on the wealthiest 1%

What do you think?

1 comment:

PG said...

Um... why should a family of four, making $48,000 on which a couple has to support two kids, have to pay taxes, but a 70-year-old woman with the same yearly income not have to pay taxes?

I can see the argument for reducing the tax burden on the middle-lower middle class, but reducing it just for seniors (who now have prescription drug coverage as well as traditional Medicare, while many children go uninsured) is such an obvious sop to the senior citizen vote that I'm disgusted.