Posted by: Christine Johnson | July 12, 2008

If You’re Reading This Blog, Chances Are, You’re Wealthy!

Bet you didn’t know that! 
But Barack Obama seems to think so.  From National Review Online’s Campaign Spot blog:

How Little Income You Need For Obama To Think You’re Undertaxed

Friday, July 11, 2008


How Little Income You Need For Obama To Think You’re Undertaxed says McCain and his allies are being unfair when they say Obama supports raising taxes on those who make as little as $32,000. They’re referring to Obama’s vote for a budget resolution that would have raised taxes on those in the 25 percent tax bracket. (It was part of repealing the Bush tax cuts.)

The FactCheck statement, which contends that the standard deduction and personal exemptions would leave an individual who made $32,000 in a year with significantly less than that in taxable income, taking them out of the the 25 percent bracket. “So to have a taxable income high enough to reach the 25 percent bracket, an individual would need to earn at least $41,500 in total income,” probably isn’t as helpful as Team Obama would like; $41,500 isn’t really many people’s definitions of rich.

And Doug Holtz-Eakin, senior policy advisor to the McCain campaign, has a point when he responds: concluded, Barack Obama’s vote on the FY 2009 resolution “bears no relation to [his] proposed economic plan.” That point goes to the heart of the problem with Barack Obama. His words on the campaign trail do not match the actions he has taken. He tells the American people one thing but has a record that is quite different.

The Obama campaign has also sought to downplay the importance of the vote. His chief economic adviser said that this was just “some Senate vote.” If the vote truly had no meaning, why didn’t he vote against it? It would have been a principled vote that rejected the notion that we should tax individuals earning as little as $32,000 a year.

More at NRO.

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