If there ever was a doubt that a lie repeated often enough can supplant the truth in people's perceptions of reality, take a look at the two graphs below. The first is from the Tax Policy Center and compares the after-income effects of the McCain and Obama tax proposals.
Now, take a look at what Americans believe each candidate's tax proposal will do:
Although only 1% of Americans will see an actual tax increase under Obama's plan, 53% believe he will increase their taxes. I was a little curious why Republicans hammered Obama so hard on taxes during the convention when his policy actually benefits most Americans more than McCain's. I guess they just thought they wouldn't get called on it.
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Comments (9)
I think it's more because the Republicans generally believe that everyone must be rich, or something. Or at least, everyone worth having around.
Posted by Eric | September 15, 2008 4:14 PM
If your joint income is over $121,000/year after incentives are factored in the McCain plan would return the most to you. If you make less than that the Obama plan would favor you. I consider a joint income of $121,000 to be part of the middle class.
http://money.cnn.com/2008/06/11/news/economy/candidates_taxproposals_tpc/index.htm
Posted by rich | September 15, 2008 6:10 PM
The president can't raise taxes. The House Ways and Means Committee raise taxes.
Posted by Mistahtom | September 15, 2008 6:35 PM
Awww...that's so cute. You actually believe tax plans and policies established during the campaign are set in stone. Are campaign politics new to you? If you bother to look into past elections you may notice that these promises are always optimistic, hence the doubt reflected in the voters' response to the poll.
Posted by I have a bridge for sale | September 15, 2008 6:47 PM
@Eric: Bad news and good news.
The bad news, per Wikipedia, is that you're wrong:
http://en.wikipedia.org/wiki/Household_income_in_the_United_States#Quintiles
The bottom of the top quintile of US households is $88,030. That puts a household collectively earning over $121,000 firmly in the upper class, with 80% of US households earning less than they do.
The good news is that if, as I suspect, your household earns over $121,000, you are "upper class." Congratulations.
Posted by D.K., Calgary, AB | September 15, 2008 7:29 PM
Eric: If your joint income is over $121,000/year after incentives are factored in the McCain plan would return the most to you. If you make less than that the Obama plan would favor you. I consider a joint income of $121,000 to be part of the middle class.
While the McCain plan (as shown by your link) will bring back MORE to those in the $112K+ category ($400 more for $112-$161K, $1,500 more for $161-227K) and your taxes will go up (by a whopping $12) from $227-$603K, Obama's plan still does not RAISE taxes for those between the $112-227K income group. I think THAT group would be considered middle class.
A lie is still a lie. Even if McCain's plan gives back MORE to those above $112K, it's still a flat-out falsehood for McCain's camp to spew that Obama will RAISE taxes on the middle class.
But why waste time with facts when you have a moose in glasses to showboat around... POW-MOOSE 08!
Posted by Phil | September 15, 2008 7:35 PM
Oh, we believe Obama's plan will do exactly what he says it will. We just don't believe it will stop there, with only the top 1% or 10%.
Posted by Steve D | September 15, 2008 7:39 PM
Since when have American's been good at math? I mean when you - hey! American Idol is on!!
Posted by Jay Cutcher | September 15, 2008 7:47 PM
so what the naysayers are saying is that the tax policy center is wrong, they study and report on this issues consistantly.
and that mccain is right and not lying......this time.......
whatever
Posted by mario | September 16, 2008 3:43 PM