how much do you know about your candidate obama? question 2?

Whats are his exact tax plans?

how much more will we be taxed? who will be taxed? and what are the exact tax plans he proposes?

These have been posted all over so what do you know?

NO hillary this and mccain that answers

this is specific!

Update:

David: and whats his detailed tax plans?

you have yet to answer any of the questions with any details?

and yes, there are details!

why do non obama people know more about their candidate then they do?

Update 2:

sorry rumbler. I know what they are. show me you know what they are.

Update 3:

Karen, this isnt about me or a copy and paste. I know all the details. I live in Kuwait and will not be voting. this question is to see just what you people know whithout copy and pasting.

Plain and simple, some of us are smart enough to research even though we dont have to vote americas election. the question is what do YOU know.

so what DO you know?

Update 4:

why are these people having a problem undertsanding this is what THEY know about him?

6 Answers

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  • 1 decade ago
    Favorite Answer

    “I believe that America's free market has been the engine of America's great progress. It's created a prosperity that is the envy of the world. It's led to a standard of living unmatched in history. And it has provided great rewards to the innovators and risk-takers who have made America a beacon for science, and technology, and discovery…We are all in this together. From CEOs to shareholders, from financiers to factory workers, we all have a stake in each other's success because the more Americans prosper, the more America prospers.”

    — Barack Obama, New York, NY, September 17, 2007

    The answer is too long for this forum. barackobama.com has all the details, but it requires some reading.

    As long as the electorate wants to be fed answers rather than read and think for themselves, they'll get administrations that say whatever they want to to get elected and then govern however they wish with no accountability.

    YOU have to read it. Even if I copy it and past it here, YOU still have to read it.

    Edit - Rumber- perfect! Those are the links I was thinking of. Thank you. Now to the asker: The only thing stopping you from knowing is YOU.

    Second edit - Your question seems more about an attempt to put down the answerers than about seeking information, but given that you addressed my reply, I'll add this for you. Note that it isn't cut and paste. It's a synopsis. Any synopsis is going to be guilty of over-generalization. The editorial comments are my own, so don't attribute them to the Obama campaign. You HAVE to read the whole original document to understand the WHOLE thing. I have. I do. But here you go:

    Provide Middle Class Americans Tax Relief

    Provide a Tax Cut for Working Families: In an attempt to restore some fairness to the tax code, Obama proposes giving 150 million workers the tax relief they deserve. For example, “Making Work Pay” tax credit of up to $500 per person, or $1,000 per working family will provide direct relief to American families who face the regressive payroll tax system. It will offset the payroll tax on the first $8,100 of their earnings while preserving the the effect of dedicated revenue source for Social Security. The “Making Work Pay” tax credit will completely eliminate income taxes for 10 million Americans and also provide relief to self-employed small business owners who struggle to pay both the employee and employer portion of the payroll tax. The “Making Work Pay” tax credit offsets some of this self-employment tax as well.

    Simplify Tax Filings for Middle Class Americans: The Internal Revenue Service (IRS) estimated in 2004 that it took more than 28 hours for an individual to complete his/her tax filing, and that half of the taxpayers filing the “easy” forms ended up paying a tax preparer to do it for them. Simplifying tax filings will not affect me personally. My taxes take more than 40 hours for my husband, who has a master's in business administration. Our income streams are complicated. However, millions of Americans should be able to do their taxes in less than 5 minutes, with the option of a pre-filled tax forms to verify, sign and return to the IRS or online. This will eliminate an estimated 200 million total hours of work and aggravation and up to $2 billion in tax preparer fees.

    Create the American Opportunity Tax Credit: A new American Opportunity Tax Credit would be a universal and fully refundable credit to ensure that the first $4,000 of a college education is completely free for most Americans, and will cover two-thirds the cost of tuition at the average public college or university. This credit will help low-income families that need it the most. Also, by using prior year’s tax data to deliver the credit at the time that tuition is due, rather than a year or more later when tax returns are filed, students can be better able to get enrolled in the first place. I had difficulty coming up with the cash to enroll in college. My parents owned a farm, which was an asset. I was disqualified from most of the grants available at the time, even though they had operating loans that absolutely EQUALED the value of the asset. In other words, they were dead broke - the loans canceled the equity. Because they paid no taxes (income wasn't high enough) I eventually got my tuition waived. None-the-less, I had to go into debt to start college until I could get work-study and the waiver. That education made me a far more productive wage earning citizen. How many people don't ever start because they can't get past that first hurdle?

    Expand the Child and Dependent Care Tax Credit: My own child is old enough that this probably won't affect me at all, BUT the credit currently only covers up to 35 percent of the first $3,000 of child care expenses a family incurs for one child and the first $6,000 for a family with two or more children. And the credit is not refundable, which means that upper-income families disproportionately benefit while families who make under $50,000 a year receive less than a third of the tax credit. Why was I getting a tax credit at all? I could clearly afford to pay for it? Because it was legal for me to do so. Obama will reform the Child and Dependent Care Tax Credit by making it refundable and allowing low-income families to receive up to a 50 percent credit for their child care expenses. Coupled with Paid for by Obama for America

    Obama’s “Making Work Pay” tax credit, this proposal will provide relief to hardworking low and middle-income parents.

    Strengthen Retirement Security

    Eliminate Income Taxes for Seniors Making Less Than $50,000. Since the New Deal we’ve had a basic understanding in America: If you work hard and pay into the system, you’ve earned the right to a secure retirement. But too many seniors aren’t getting that security, even though they’ve held up their end of the bargain. Since 1993, when taxes on social security benefits were raised, millions of seniors saw their net benefits go down. My mother and father were struggling in my father's last years because of his medical care costs, which skyrocketed. Obama will eliminate all income taxation of seniors making less than $50,000 per year. This will provide an immediate tax cut averaging $1,400 to 7 million seniors and relieve millions from the burden of filing tax returns. For millions of seniors, this will eliminate the need to hire a tax preparer, resulting in even larger savings.

    Are you still reading?

    Create Automatic Workplace Pensions: Personally, I had good plans, with 403B contributions. Since I'm retiring, this won't affect me personally. However, currently, 75 million working Americans – roughly half the workforce – lack employer-based retirement plans. Even when workers are given the option of joining employer-based plans, many do not take up the option because it requires considerable work to research plans and investment portfolios, and enroll in the plan. This retirement security plan will automatically enroll workers in a workplace pension plan. Under his plan, employers who do not currently offer a retirement plan will be required to enroll their employees in a direct-deposit IRA account that is compatible to direct-deposit payroll systems that already exist. Employees may opt-out by signing a written waiver, so it isn't a "forced" program. Even after enrollment, employees will retain the right to change their savings levels, reallocate investment portfolios or end contributions to the account. Obama’s plan will give options to the self-employed and new small businesses to access new easy-to-enroll savings plans and direct the IRS to deposit tax refunds into those savings plans for people who choose to save some of their refunds. Under the Obama plan when employees change jobs, their savings will be automatically rolled over into the new employer’s system to ensure continued savings. Americans don't save because they don't think they can afford to do so. Making the savings automatic might increase the savings participation rate for low and middle-income workers from its current 15 percent level to around 80 percent. This "cushion" of Do-It-Yourself savings give real economic power to individuals, something Republicans generally applaud.

    Expand Retirement Savings Incentives for Working Families: Barack Obama will ensure savings incentives are fair to all workers by creating a generous savings match for low and middle-income Americans. Obama will expand the existing Savers Credit to match 50 percent of the first $1,000 of savings for families that earn under $75,000, and he will make the tax credit refundable. To help ensure that this proposal actually strengthens retirement investments, the savings match will be automatically deposited into designated personal accounts by using the account information listed on IRS tax filings. Coupled with the automatic workplace pension plan, this proposal will stimulate tens of millions of new Americans to invest for retirement. My own retirement investments were based on my understanding how investments work, but I've met person after person after person who doesn't understand the simple concept of compound interest over time. There is nothing "extraordinary about my income stream, but I've saved so much, I'm able to retire, not yet 55. I've been told, "I didn't know that saving was even possible. " In the proposal, over 80 percent of the savings incentives will go to new savers, and 75 percent of people eligible for the incentives who are expected to participate in the new program do not currently save. It's time they knew that it is possible.

    Still reading? Good. There is more at the original link.

    Source(s): *LOL* THIRD edit - I had no trouble understanding the question. It seems there is a limit on how long these things can be. It took some time to type it. Why are you so impatient? And did you add this to your second question on the same subject?
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  • Anonymous
    1 decade ago

    I think that is just it. I've heard no definite plans from Obama. One thing you can count on though. He is a Democrat, so expect to shell out more of your hard-earned money in taxes. Both Obama and Hilary are planning to let the present Bush tax cuts expire, causing the biggest tax increase in American history. This is not a diss of Obama or Hilary...this is a fact.

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  • 1 decade ago

    There are none so deaf as he who will not hear. He has said many times that he would do away with the bush tax cuts, give the middle class a tax break and go after cooperation's to make sure they pay there fair share. For people as fiscally responsible as repubs they should understand that spending more money than you take in is unwise.

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  • 1 decade ago

    Here are the details...

    http://www.barackobama.com/issues/

    Click on Blueprint for change and read down, you will find his proposal.

    There is a synopsis here...

    http://www.barackobama.com/issues/economy/#tax-rel...

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  • Jenny
    Lv 6
    1 decade ago

    He's going to raise our taxes and go after all the big businesses thus eliminating more jobs and putting more individuals on welfare, where he wants us.

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  • 1 decade ago

    one word..socialism!

    bow to Obama...lol...bow to the "savior"...lol....that is what his moron followers do!

    McCain in 08! a True American hero...the only choice!

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