Truth-o-meter

[bs.gunn]

Fun site to see the truth and lies of either convention :-)

http://www.politifact.com/truth-o-meter/

[02teleprograd]

Barack Obama supports plans to raise "income taxes ... payroll taxes."


Half true.. How can it be half true.

[bs.gunn]

If you click the link under the meter it will tell you. But I'll quote it here for you anyway

McCain is partially right that Obama will raise taxes. Obama intends to roll back the Bush administration's tax cuts on people with incomes of $250,000 for couples and $200,000 for singles. McCain, on the other hand, wants to leave the Bush tax cuts in place for all income levels.

But Obama's proposals also include a number of tax cuts for people who make less than those amounts. Obama advocates eliminating income taxes for seniors with incomes less than $50,000. He also proposes a $1,000 tax credit on income for working families ($500 for singles), to offset payroll taxes.

The Tax Policy Center, a nonpartisan research group, has extensively analyzed both candidates tax plans and published a report on their findings.

"The Obama plan would reduce taxes for low- and moderate-income families, but raise them significantly for high-bracket taxpayers," the report concluded. "By 2012, middle-income taxpayers would see their after-tax income rise by about 5 percent, or nearly $2,200 annually. Those in the top 1 percent would face a $19,000 average tax increase — a 1.5 percent reduction in after-tax income."